This workshop, based on the Assn of Public Treasurers’ brand new Guide to Internal Controls, is designed to assist treasury and finance officers in assessing, documenting and enhancing their internal control environment.
Participants will learn how to develop an internal control policy and utilize internal control checklists to draft narratives and flowcharts that outline an entities control environment. The workshop incorporates how to identify control weaknesses to design a plan of correction.
By developing an effective system of internal controls, you can reduce potential liability from theft, fraud or possible fines and penalties that could be imposed due to incurred losses. A well documented internal control environment will improve communications with auditors.
Cost per person is $55.00 for four hours of instruction, the Assn of Public Treasurers’ Guide to Internal Controls and certificate of completion.
Objectives
Ensure that management understands it is responsible for producing an environment conducive to achieving strong internal controls.
Ensure compliance by all employees of your organization with internal controls.
Provide you with the tools to establish, properly document, monitor, maintain, and adhere to your organization’s system of internal controls.
Ensure that risks both inside and outside the organization are properly assessed and managed.
Scope of the “Guide to Internal Controls”
This Guide applies to all of your organization’s departments and operations. The examples contained in this guide are not presented to be all-inclusive or exhaustive of all the specific controls appropriate in each department. Over time controls may be expected to change to reflect changes in your operating environment.
An effective control system provides reasonable, but not absolute assurance for the safeguarding of assets, the reliability of financial information, and the compliance with laws and regulations. Reasonable assurance means that control systems should be developed and implemented to provide management with the appropriate balance between the risk of your daily business practice and a level of control required to ensure business objectives are being met.
What You Receive
As part of the workshop, participants receive the Association of Public Treasurers’ brand new, Guide to Internal Controls and a certificate of completion. The Guide is a reference tool for all employees to identify and access operating controls, financial reporting and legal or regulatory compliance processes and to take action to strengthen controls where needed.
The workshop will cover material from chapters, listed below, that are included in the Guide to Internal Controls:
Chapter One - Introduction to Internal Controls
Chapter Two - Budgeting and Planning
Chapter Three - Cash Receipts and Disbursements
Chapter Four - Investments
Chapter Five - Revenues and Receivables
Chapter Six - Capital Assets
Chapter Seven - Inventory
Chapter Eight - Purchasing and Receiving
Chapter Nine - Accounts Payables and Disbursements
Chapter Ten - Personnel and Payroll
Chapter Eleven - Information Systems Management
Chapter Twelve - General Ledger Accounting and Financial Reporting
Chapter Thirteen - Grant Receipts and Disbursements
