INTC
INTERNAL CONTROL: A PRACTICAL APPROACH TO
PREVENTING MISSTATEMENTS IN CLOSELY-HELD COMPANIES

This course provides an overview of ASB’s proposed Statement on Quality Control Standards which supersedes all existing standards in this area. It outlines the elements involved in quality control from the perspective of smaller CPA firms with limited professional staff and provides practical insights on such areas as client acceptance, independence, and compliance with professional standards.

MAJOR TOPICS:

• Background to internal control
• The COSO framework for internal control
• Internal control in closely held companies
• SAS 109: assessing internal control in a financial statement audit
• PCAOB proposal: an audit of internal control over financial reporting

DESIGNED FOR: Accountants in public practice and industry who need to evaluate their clients’ internal control systems as part of newly enacted audit standards, as well as CPAs who assist their clients in designing internal control systems.

CPE CREDIT: 2 hours, Auditing

LEVEL OF KNOWLEDGE: Intermediate

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Surgent McCoy CPE, LLC
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