Upon successful completion of this course participant should be able to be complete the following objectives: -Gain a good understanding of the nature of business risk, how these risks can negatively impact the organization and the basic definition of internal controls and problems this definition has created. -Discuss Chaos Theory and materiality as a vehicle to distinguish the difference between these concepts in an audit from the development and evaluation of internal controls. -Learn the role of ethics and integrity and how they affect the effectiveness of any internal control system. -Examine the 2013 COSO model for evaluating and developing internal controls. -Apply the concepts from these models in real - world cases. Field of Study: Auditing