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