June 17, 2025


Webcast Replay


1.2 CPE

Internal Controls

June 17, 2025
Webcast Replay
1.2 CPE

Internal Controls

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    Instructor

    Tricia
    Reaver

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Learning Objectives

  • Define internal control and explain its role in organizational performance, compliance, and financial reporting.
  • Describe the five components of the COSO Internal Control Framework and the 17 related principles.

Major Topics

  • Definition and Purpose of Internal Control (per Yellow Book)
  • COSO Framework and the Five Components of Internal Control:
    Control Environment
    Risk Assessment
    Control Activities
    Information & Communication
    Monitoring
  • Principles underlying each COSO component (17 total)
  • Types and Classifications of Control Deficiencies:
    Control Deficiency
    Significant Deficiency
    Material Weakness
  • Entity-Level Challenges in Maintaining Effective Internal Controls
  • Reporting on Internal Controls (financial and compliance)
  • Internal Control Considerations in the Single Audit Process
  • Auditor Responsibilities Regarding Internal Controls
  • Distinguishing Financial Reporting Controls from Compliance Controls
  • Testing Methods for Evaluating Internal Controls

CPE Credits Available

1.2 CPE
1.2
Accounting (Governmental)

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Accounting & Auditing
  • Government
  • Pracitioners

Intended Audience

Designed for accounting, auditing, and compliance professionals.

Provider

*Maryland

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