This course in part of our series on the Controllership Role. Internal control is relevant to everyone in the workplace. It represents our moral responsibility to understand and comply with organization policies and procedures. It also provides the means to hold individuals accountable for their work. The controller is an impactful position that affects a company’s processes including financial, compliance and operational.

Controller functions vary across companies often following the size and complexity of the business and the industry. Smaller companies require more versatility for the controller Larger companies are more able to segregate job responsibilities across other employees.

The controller should be knowledgeable of the various controls to create a control system that will appropriately safeguard company assets and processes. Internal controls are typically comprised of control activities such as authorization, documentation, reconciliation, security and segregation of duties.

In this course we delve further into the concept of how the controller can properly execute their fiduciary duty for internal controls. This includes delving past the typical definitions of internal controls.

Learning Objectives
  • Explore and examine the controller’s responsibility for internal controls.
  • Identify and evaluate the integrity of internal controls.
  • Identify and evaluate internal control types.
  • Recognize and understand control objectives.
  • Discover and review roles in internal controls.
  • Explore and examine methods to invest in internal controls.
  • Explore and examine how to organize internal controls.
Last updated/reviewed: Aug 13, 2024

Included In Certifications

This course is included in the following Certification Programs:

22 CoursesThe Controllership Series Certification

  1. The Controllership Series: The Controller Function - Elevating the Role
  2. The Controllership Series: The Controller Function - Strategic and Annual Planning
  3. The Controllership Series: The Controllers Role in Financial Forecasting
  4. The Controllership Series: Future Role of the Controller – Part 1
  5. The Controllership Series: Future Role of the Controller – Part 2
  6. The Controllership Series: The Controller Function - Cash and Investments
  7. ASC 842 Accounting for Leases - Deep Dive
  8. The Controllership Series: The Controller Function - Inventory Part 1
  9. The Controllership Series: The Controller Function - Inventory Part 2 - Inventory Valuation, Physical Inventory Methods and Inventory fraud
  10. The Controllership Series: Overhead, Direct and Indirect Costs and Allocation Methods
  11. The Controllership Series: Financial Statement Preparation and Presentation
  12. The Controllership Series: The Controllers Role in the Procurement Function
  13. The Controllership Series: The Role of The Controller in ESG
  14. The Controllership Series: The Controllers Role in Pro Forma Financials
  15. The Controllership Series: The Controllers Role in Data Analytics and Big Data
  16. The Controllership Series: Introduction to the Financial Close Process
  17. The Controllership Series: Managerial Accounting Basics and Cost Principles
  18. The Controllership Series: Sales, Collections and Customer Credit
  19. The Controllership Series: Addressing Cash Flow and Forecasting Uncertainty
  20. The Controllership Series: The Controller’s Skillset
  21. The Controllership Series: The Controllers Role in Internal Controls
  22. Tools for The Controllership Series Certificate
1 Review (7 ratings)

Reviews

5
Member's Profile
Good straightforward/plain english introduction to internal controls and the Controller's role in it
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to The Controllers Role in Internal Controls3:20
  Controllers Responsibility12:14
  Internal Control Types13:50
  Understanding Control Objectives4:59
  Roles in Internal Controls10:26
  Investing in Internal Controls9:21
  The Digital Age10:03
  How to Organize Internal Controls1:50
  Summary1:06
CONTINUOUS PLAY
  The Controllers Role in Internal Controls1:07:09
SUPPORTING MATERIAL
  Slides: The Controllership Series: The Controllers Role in Internal Controls
  The Controllership Series: The Controllers Role in Internal Controls Glossary/ Index
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam