Internal Controls & Audit Readiness (COSO)

Controls protect the owner's money and make every audit shorter. Using the COSO internal control framework, this programme shows finance teams how to identify the risks in their main cycles, sales to cash, purchase to pay, inventory and payroll, and design proportionate controls: approvals, segregation of duties, reconciliations and documented procedures. It also covers how to test that controls work, how to prepare the files auditors ask for, and how to respond to audit findings so the same issue does not return next year.

What you will learn

• Apply the five components of the COSO framework in a growing company
• Map risks in sales, purchasing, inventory and payroll cycles
• Design approvals, segregation of duties and reconciliations
• Test whether controls actually work
• Prepare audit files and close audit findings for good