2024 Internal Controls for Small and Medium-Sized Entities

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Wednesday, March 5, 2025 @ 2:00pm 3:00pm
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Description

This session explores the importance of internal controls with an emphasis on best practices for small- and medium-sized entities.  We will examine the roles of both preventive and detective controls and practical, cost-effective suggestions for implementing effective internal controls will be addressed.

Prerequisites

A basic understanding of financial statement audits

Highlights

  • Overview of controls
  • Preventative controls
  • Detective controls
  • Controls for SMEs

Objectives

  • Recognize the importance of internal controls
  • Appreciate nuances of internal controls for small and medium-sized entities
  • Distinguish controls as either preventive or detective
  • Identify useful controls for organizations that have limited resources

Preparation

None

Credits

Category Amount
Accounting&Auditing 1.00