Understand the concepts of internal controls and how they vary from day-to-day tasks of their job function
Sarbanes-Oxley made it very clear that internal control is the responsibility of management – not the internal or external auditors. This requires every single individual within the organization, regardless of their role, to understand the concepts of internal controls and how they vary from day-to-day tasks of their job function
COSO 2013 has turned the focus up on understanding internal control and embedding the proper processes into the organizations daily activities. COSO 2013 added key control aspects to mandate knowledge of business and regulatory changes as well as an increased focus on information technology and fraud. It is imperative that all professionals understand the roles and responsibilities incumbent upon them when it relates to internal control.
It is also imperative that management learn and accept their critical role as it relates to the management and monitoring of internal controls.
Areas Covered in the Webinar:
-Internal control focus -Internal control definition and history -Internal control advantages/disadvantages -COSO overview -COSO 1992 -COSO 2013 -Methods to educate management -Setting the stage -Key monitoring methods
Who Will Benefit:
-Accountants -Finance Personnel -CFO -Controller -Board Members -Management -Risk and Legal Professionals -Internal Auditors -Compliance Professionals -Process Improvement Professionals
Field of Study: Auditing
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 24 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA. Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. -“Leading The Internal Audit Function” and -“Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition Ms. Fountain was a contributing author to the certification program exam for the National Association of Accountants. She also has certificate programs on various on-line platforms. Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
