Using Internal Control to Strengthen Security, Efficiency, and Employee Conduct

Many leaders in business organizations of all sizes view the system of Internal Control primarily as a protective security measure. This is a great first step, however a well-designed internal controls system can and will drive all entity objectives. This session uses information gathered from years of creating internal control systems as well as concepts from respected authoritative pronouncements and frameworks to illustrate the power of a strong and well supported control system as well as actions that can help establish such a system. This material is becoming more and more beneficial as companies strive to address many new business challenges such as evolving markets, the rapid rate of change in the business world and the notable increase in governmental and industry-based regulation. Those that work with internal controls and regularly consider ways to improve the functionality of internal control systems should strongly consider this session.

Basic Course Information

• Identify important components/sub-components of a control system
• Understand how risk affects such things as strategy and business direction
• Recall important concepts such as "Risk Appetite", & "Framing Risk", and & "Risk Tolerance"
• Recognize how the control environment can help or hinder the operation of control measures in use at an entity
• Identify important steps that an organization can undertake, specifically related to control development that can drive the direction of the entity

• An overview of control frameworks and concepts
• Strategic considerations that can be incorporated into control development
• Understanding and controlling risk that arises when organizations change or choose not to