Cost Effective Internal Controls for Small Businesses (Completed)

This course is designed to assist accountants and auditors who are working with small businesses. The course contains a presumption that there will be a lack of segregation of duties in the internal controls of small businesses. We will review compensating and mitigating controls for the lack of segregation of duties and will discuss developing cost effective internal controls for organizations with limited budgets. We will also discuss working directly with small business owners and bookkeepers and some of their resistance to formalized internal controls.

Who Should Attend
CPAs who are working with small businesses.

Topics Covered

• Review compensating and mitigating controls for the lack of segregation of duties
• How to develop cost effective internal controls for organizations with limited budgets
• How to work directly with small business owners/bookkeepers and some of their resistance to formalized internal controls

Learning Objectives

• Recognize how to work around issues with segregation of duties
• Identify and develop cost effective internal controls

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
An understanding of the COSO Framework on Internal Controls

Advance Preparation
None