Proper Documentation Methods for Internal Audit and Internal Controls Processes

Internal controls (IC) are critical to the effective functioning of all processes. The importance of proper and relevant documentation can be viewed as a burden. Strong, relevant documentation is critical to ensure organizations can adequately monitor, manage, and adjust their processes in line with business objectives. This requirement extends far beyond internal controls over financial reporting. Management must first establish appropriate responsibilities for IC. Personnel must have a strong understanding of the types and methods of IC and how they relate to their jobs. Controls should be well documented. Documentation methods must meet organizational needs and be sufficient for personnel to understand.

Who Should Attend
The course is useful to all individuals within a company who have responsibility for writing policies and procedures, documenting and evaluating processes and internal controls and testing processes.

Topics Covered

• Evaluate the responsibilities of employees, management, and auditors in understanding their role in internal control, as well as evaluating documentation methods

Learning Objectives

• Evaluate the role responsibilities for internal control (IC)
• Determine what to document
• Identify documentation types
• Explore how to establish a defined documentation process
• Explore steps to sufficient documentation
• Discover relevant methods of flowcharting

Level
Basic

Instructional Method
Group: Internet-based

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

Program Prerequisites
None

Advance Preparation
None