Best-in-Class Internal Controls: Best Practices for Finance Professionals
2.00 Credits
Member Price $85
Non-Member Price $115
Overview
Strong internal controls are the foundation of financial integrity and operational efficiency. In this interactive two-hour session, finance professionals will explore best-in-class internal control frameworks and leading practices to mitigate risks, enhance compliance, and improve organizational performance. Participants will gain insights into designing, implementing, and monitoring internal controls that align with regulatory expectations and industry standards. This course will provide real-world examples and practical strategies to strengthen controls in key financial processes, ensuring a culture of accountability and transparency.
Highlights
- Define and explore the basic concepts, myths and facts of internal controls
- Examine typical control types
- Identify why controls fail
- Identify a framework to develop the right balance of internal controls
- Discuss Internal Controls in the Digital Age
- Examine the variances and considerations of automated vs. manual controls
- Evaluate the concept of IT controls
Prerequisites
Basic knowledge of internal controls and financial processes
Designed For
Accountants, Finance, Operational Professionals
Objectives
- Identify key principles of effective internal controls and risk management
- Evaluate best practices for implementing internal controls in financial operations
- Assess internal control frameworks, including COSO and other industry standards
- Develop strategies to enhance monitoring, documentation, and reporting of controls
Preparation
None
Leader(s):
Leader Bios
Lynn Fountain, Sole Proprietor
Lynn Fountain, CGMA, CRMA, MBA, has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.
Ms. Fountain has developed and delivered leading edge training sessions on the new COSO framework and has assisted companies in identifying risk gap analysis in their individual processes. She currently executes two highly recognized e-workshops for the Institute of Internal Auditors, one on Fraud and the second on Ethics. Both workshops have incorporate aspects of COSO 2013.
Ms. Fountain is in the process of authoring a publication for the IIA Research Foundation on aspects of fraud auditing. The publication is due out in 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and 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.
Non-Member Price $115
Member Price $85