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Internal Control: Documentation and Testing - Webinar

  • ID: 4471017
  • Webinar
  • March 2018
  • Region: Global
  • 90 Minutes
  • Online Compliance Panel
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The evaluation of internal control is one of the few things required under generally accepted auditing standards. After all, the results of the evaluation determine the scope of our audit; that is, how much or how little work we will do. The more reliance we can place on internal control, the less work we will have to perform; the less reliance we can place on internal control, the more work we will have to perform. However, the process is often not given the attention that it deserves. This program is designed as an introduction for a new staff member as to the basics of evaluation and documenting internal controls and a refresher review of the entire process for those individual responsible for evaluation and documentation.

Objectives of the Presentation:
  • Reduce the scope of your audit based on a proper designed and documented evaluation of internal controls
  • Why the control environment has such a major impact on the evaluation of internal controls
  • How to evaluate the control environment
  • The various ways to evaluate internal controls
  • Why we use the one that we most often do
  • How to implement and test internal controls
Why Should you Attend:

For financial reporting purposes, the presence of good internal controls reduces the risk of a material misstatement to the financial statement. Good internal controls related to operations help maximize profits and protect assets. Good internal controls related to the detection and prevention of fraud reduces the possibility of fraud occurring. Individuals attending this presentation will gain a better understanding of the purpose of internal controls and how to design and implement them in order to achieve their objectives where ever they may be such as finance, operations, or internal/external audit.

Areas Covered:
  • The revised definition of internal control as contained in SAS No. 122, AU 315
  • The five elements of internal control
  • Why the first, the control environment, overrides the remaining four
  • How internal controls are classified
  • How we document internal controls; the control standards
  • Who is ultimately responsible for all internal controls and
  • How to carry out that responsibility; pronouncements/studies related to internal controls
  • How to analyze a "control break;" the testing of internal controls (what are we really looking for?); and
  • Reporting on internal accounting controls
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  • Dennis F. Dycus Dennis F. Dycus,
    Trainer, Consultant, Public Speaker ,
    Middle Tennessee Chapter ACFE


    For the last several years he has developed and/or conducted training programs in all fifty states, Puerto Rico, Guam, Mexico, Canada and Europe, for organizations such as the Association of Certified Fraud Examiners; the American Institute of Certified Public Accountants; numerous state CPA societies; the Government Finance Officers Association; the Association of Government Accountants; the National Association of State Auditors, Comptrollers and Treasurers; Westcott Communications, Inc.; Western CPE; Accounting Continuing Professional Education Network; the Organization for Security and Co-Operation in Europe; IBM; HCA; NYC Presbyterian Hospital; Saturn, Inc.; Chrysler; Securities and Exchange Commission; the U.S. Department of Labor; U.S. Environmental Protection Agency; the Government Accountability Office; U.S. Office of Management and Budget; the Internal Revenue Service; US Bankruptcy Trustees; Bisk Education, Inc.; Nichols Education, Inc.; Symbion, Inc.; numerous state audit organizations; local ACFE, AGA and state CPA chapters; and individual professional firms. He frequently speaks at colleges and universities as well as various professional conferences, both on a local and national level. He has authored articles related to the detection and prevention of fraud for several national publications.

    Dennis is a member of AICPA; ACFE (charter member), Middle Tennessee Chapter ACFE -Past President, current President Emeritus; AGA; Middle Tennessee Chapter AGA - Past President.

    Dennis recently retired after 39 years with the Office of the Comptroller of the Treasury of the State of Tennessee as the Director of the Division of Municipal Audit where he was responsible for the audits of all local governments in Tennessee, with the exception of counties and their affiliated, units as well as conducting investigations related to fraud, waste, and abuse in local governments.

    Dennis holds a B.S. in accounting from Western Kentucky University and is a graduate of the Tennessee Government Executive Institute (TGEI).

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  • Members of management who are responsible for designing and implementing internal controls
  • Accounts payable supervisors and personnel
  • Systems consultants
  • Public accountants
  • Internal auditors
  • Tax compliance officers
  • Enrolled agents
  • Officers and managers with accounts payable compliance oversight
  • Company/business owners
  • Managers/supervisors
  • Public agency managers
  • Audit and compliance personnel/risk managers
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