Monitoring of Internal Control Systems

Featuring:  David Richards, CIA, CPA & Sri Ramamoorti, Ph.D., CIA

DATE:          October 6, 2010
TIME:          Registration 12:30 pm

                     Program 1:00 pm until 5:00 pm

 LOCATION:  To be announced

COST:  $50 members / $75 non-members

CPE:  4 hours
  

REGISTER HERE 

The best designed internal control systems, if left unmonitored, tend to deteriorate over time. Monitoring ensures that internal controls continue to operate effectively over time. With COSO and ISACA coming out with professional guidance on the subject, monitoring is the new “buzz” word for internal auditing.  It includes, and is built on, other components of internal control and applies to all forms of risk (e.g., financial, operational, compliance, fraud, technology, etc.). Control Monitoring has several layers but this course will focus on ongoing monitoring and separate evaluations of key risks and associated controls across business operations, financial reporting and compliance. We will focus on how to monitor those risks that have the most potential to generate significant negative (or positive) impacts for the organization.  Monitoring is either not performed or often performed without the results being systematically tracked, and communicated, thus losing their inherent benefit and value. 

 THE PRESENTERS: 

 David A. Richards, CIA, CPA, Former President of The IIA’s Global Organization & Former CAE, FirstEnergy Corp. Dave represented the IIA on the COSO Board of Directors when the 2009 COSO Guidance on Monitoring Internal Control Systems was being developed. He also was a key contributor to the development of the  AICPA/ACFE/IIA guidance on Managing the Business Risk of Fraud.

 Sri Ramamoorti, Ph.D., ACA, CPA/CITP/CFF, CIA, CFE, CFFA, CFSA, CRP, CGAP, CGFM, CICA, FCPA, Associate Professor of Accountancy, Kennesaw State University, and Former Corporate Governance Partner, Grant Thornton LLP. Sri was on the development/authoring teams for both the 2009 COSO Guidance on Monitoring Internal Control Systems as well as the forthcoming 2010 ISACA guidance on Monitoring Internal Control Systems and IT.