Controls around the procurement of goods including the purchasing, receiving, and accounts payable processes are important for companies that want to procure goods effectively at fair prices. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process. The course allows participants to become familiar with, or brush up on, internal control definitions and concepts. Participants will also learn the key accounts payable process activities as well as specific controls related to the accounts payable process. Learning objectives for this course are listed below.
Course Learning Objectives
• Properly identify risk categories including internal and external risk in addition to inherent and residual risk.
• Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
• Properly identify internal control categories including preventative or detective controls and manual or automated controls.
• Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control – Integrated Framework and the Sarbanes Oxley Act.
• Properly identify the key documents in the accounts payable process.
• Recognize the process specific controls related to the accounts payable process.
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.
Upon course completion A course evaluation form is provided for your feedback.
Participants have 1 year from the date of purchase/enrollment to complete this course
Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/