Understanding & Testing Internal Control [UTIC]

Aug 22, 2019
Time: 8:00am - 4:00pm


Accounting & Auditing

Credit Hours:



Member: $295.00
Non-member: $445.00

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Discussion Leader:

Robert G. Moody, Jr., CPA    more info

Rob’s previous experience as a City Finance Officer coupled with his role as a partner in a local public accounting firm (where he led the government assurance practice) has provided him extensive knowledge and understanding of all aspects of state and local governments. Rob has a leadership style that is client-centered and focused on the needs and wants of those served.

Rob brings a strong customer service perspective to clients and a seasoned understanding of government operations and organizational issues. He recognizes challenges early and has a cooperative style that brings people together to solve issues and improve challenging situations.  Rob’s involvement in performance audits, organizational assessments, efficiency and effectiveness studies, and support to a variety of financial, accounting, and reporting functions allow him to bring direct value to almost any client situation.

Rob's specializes in accounting, reporting and auditing for municipalities with a focus on State Agencies, Cities, and Special Districts, Financial and Single Audits, Federal Compliance Audits, Program Specific Audits, Internal Controls.

Rob presents locally, regionally and nationally on topics of governmental accounting, reporting and auditing.  His experience and background allow him to complement presentations with a personal style and confidence that is both informational and entertaining.

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Website registration for this course closes on August 21, 2019. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

Understanding & Testing Internal Control (UTIC)

August 22, 2019

Elgee Rehfeld, LLC
9309 Glacier Highway, Suite B-200
Juneau, AK

For registrations received less than 21 days from the course date will be charged a late fee of $50 for each 8 hour course and $25 for each 4 hour course and $12.50 for each 2 hour course.

Internal controls over financial reporting are used to prevent, detect, and correct misstatement. They also help to reduce the chance that fraud will occur. The auditor is required to obtain an understanding of an entitys controls as part of the risk assessment process. This workshop will provide participants with an opportunity to explore the design of controls over the significant systems typically found in a small- to mid-size client. Participants working in industry will find this course useful in challenging the level of internal controls currently implemented in their organizations. Participants will also learn to efficiently document their understanding of the controls and determine where it is either necessary or efficient to test them. This course focuses on the updated 2013 COSO Framework. New additions for 2019 are consideration of internal controls in the cyber age and enhancing board oversight.

Major Topics:
- 2013 COSO Framework
- Understanding the design of controls at the entity level and at the activity (financial statement assertion) level with an emphasis on manual control activities
- Determining whether controls have been implemented
- Effective and efficient tests of controls
- Multi-purpose tests
- Documentation techniques
- Use of service auditor reports (AU 402)
- AU 265 reporting requirements

Learning Objectives:
Participants will be able to:
- Apply the five COSO elements of internal control
- Differentiate between understanding and testing internal controls
- Document the understanding of internal controls at the appropriate level
- Test and document the results of tests of internal controls
- Issue an AU 265 report

Designed For:
- Audit practitioners working on audits of non-public companies
- Accountants in industry who want to improve their entitys internal controls

CPE Credits: 8, Accounting & Auditing

Level of Knowledge: Intermediate

Prerequisite: Basic audit course or experience

Acronym: UTIC

Discussion Leader: Robert G. Moody, Jr., CPA