Documentation Methods for Internal Control Processes

Overview

Internal controls (IC) are critical to the effective functioning of all processes. The importance of proper & relevant documentation can be viewed as a burden. Strong, relevant documentation is critical to ensure organizations can adequately monitor, manage & adjust their processes in line with business objectives. This requirement extends far beyond internal controls over financial reporting. Management must first establish appropriate responsibilities for IC. Personnel must have a strong understanding of the types & methods of IC & how they relate to their jobs. Controls should be well documented.

Documentation methods must meet organizational needs & be sufficient for personnel to understand.

This course will further evaluate the responsibilities of employees, management & auditors in understanding their role in internal control as well as evaluating documentation methods.