Risk Management: Internal Controls & Fraud Prevention - Part 1 Self-Study Webinar (5 Hours)


Many organizations have gone through extensive efforts to comply with Sarbanes-Oxley and other internal control regulations to ensure accuracy in their financial statements. But financial statement controls cover only a small area of risk and often ignore the far greater risks resulting from weak operational and other financial controls. In this self-study webinar, you’ll learn how to:

  • Define acceptable levels of risk and the accountant’s role in risk management
  • Identify fraud and other risk factors
  • Strengthen controls, limit risk and prevent fraud

This targeted self-study webinar will provide you with a firm grasp of the common financial and operational risks that still confront companies and what you need to do, beyond insuring against them, to manage those risks.

  • Defining risk and quantifying acceptable levels of risk
  • Determining the accountant’s responsibilities in risk management
  • Analyzing the conditions, detection and control methods for fraud
  • Integration of an ERM framework within COSO

Identify the basis upon which risk management programs should be established

Identify appropriate risk management metrics

Recognize the step to be taken after senior management has established an organization’s strategic goals

Recognize the role of fraud within the COSO framework

Identify the categories of risk to be considered within a risk management program

Identify the perspective from which the ERM framework identifies risks

Recognize the perspective from which key performance indicators are typically viewed

Identify the role of insurance in risk management

Recognize the optimum timing for evaluation and monitoring of existing risk management strategies

Recognize the requirements for the identification of problems with current risk management strategies

Identify the relative role of MIS in controlling risk

Identify risks unique to MIS

Identify recommended MIS user access controls

Recognize recommended steps for the MIS prevention of data loss

Recognize the changes to SSAE No. 18 relative to SSAE No. 16

Identify the SSAE No. 18 changes to the SOC 2 report

Identify the general characteristics of an effective service organization’s control environment




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: