Internal Controls: Tools - COSO's Evaluation Tools and Control Self-Assessment

Level: Basic
Credits (50 min.hr.): 1
Prerequisites: None.

This course discusses internal control questionnaires, including issues concerning evaluation techniques, development, review, testing, duty assignments, and preparation methods. As well as flowcharting, including issues concerning advantages and disadvantages, internal controls, work and transaction flow, manual methods, and flowcharting software.

This course is the fourth of four related courses.

Course Highlights

• Introduction to internal control questionnaires
• Answering ICQ questions
• Flowcharting
• Identifying internal controls
• Flowcharting software
• COSO's definition of internal controls
• Control self-assessment

Course Objectives

• Describe internal control evaluation and techniques.
• Discuss flowcharting.
• Establish relationships among controls.
• Demonstrate flowcharting software.
• Give COSO's definition of internal controls.
• Use the component worksheet.
• Understand the risk assessment and control activities worksheet.
• Explain automated methods and thoughts on managing COSO's approach.
• Describe the technique of control self-assessment.

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