Implementing Efficient, Effective Internal Controls For Small to Mid-Size Businesses

• Gain a good understanding of the nature of business risk, how these risks can negatively impact the organization and the basic definition of internal controls and problems this definition has created.
• Discuss Chaos Theory and materiality as a vehicle to distinguish the difference between these concepts in an audit from the development and evaluation of internal controls.
• Learn the role of ethics and integrity and how they affect the effectiveness of any internal control system.
• Examine the 2013 COSO model for evaluating and developing internal controls.
• Apply the concepts from these models in real-world cases.