Risk Management: Internal Controls & Fraud Prevention Self-Study Webinar (10 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:

  • Develop and implement a risk management strategy
  • Strengthen controls, limit risk and prevent fraud
  • Reduce risk with hedging, derivatives and insurance options
  • Manage a crisis

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
  • Utilizing financial statements, key performance indicators and common accounting tools to control risk
  • Identifying ways to use key performance indicators to control risk
  • Learning the role of policies and procedures in risk control
  • Studying why staffing issues are a key component of risk management
  • Learning how to use IT as a key factor in a risk management control program
  • Using hedging and derivatives as part of a risk management program
  • Integrating an ERM framework within COSO
  • Making effective use of business insurance in risk management

Identify the degree to which an entity can control its exposure to risk

Identify the organizational levels at which risk management should be practiced

Recognize the types of organizations that generally practice risk management

Recognize the person(s) with the ultimate responsibility for controlling an organization’s risk

Identify the basic operational risk management process

Recognize the degree to which controls may detect fraud

Recognize the characteristics of a “typical” fraudster

Recognize the way in which fraud is typically discovered

Identify weaknesses in controls leading to the potential for fraud

Identify the primary characteristics of the COSO framework

Identify the applicability of the COSO framework to business organizations

Identify the objectives of the COSO framework

Recognize the extent to which the COSO framework can provide assurance regarding a lack of errors or fraud

Recognize the primary precondition to assessing risk

Identify the ERM framework for risk assessment relative to COSO

Recognize the focus of a SWOT analysis

Recognize the role of the use of ratio analysis in a financial statement review to control risk

Recognize ways in which to improve financial statement reconciliations

Identify the role of key performance indicators in risk management

Identify the characteristics of key performance indicators

Recognize the role of MIS in controlling risk

Identify an organization’s relative risk of experiencing a cyberattack

Identify the individuals for whom cyber security awareness should be a priority

Recognize the relationship of current SSAE No. 18 guidance relative to previous SSAE No. 16 guidance

Recognize the changes to a SOC 2 report under SSAE No. 18

Recognize the trend in applicable regulations relating to internal control

Identify the necessary characteristics of a service organization’s control environment

Identify the general characteristics of the GDPR

Recognize the potential consequences of a corporate cyber breach

Recognize the role of hedging against risk as a business strategy

Recognize appropriate controls over derivatives

Identify the types of entities or funds most vulnerable to corresponding financial risks

Recognize ways in which to hedge against specific types of business risk

Recognize the role of business insurance in risk management




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: