Internal Controls Over Financial Reporting
16 CPEs
This course is designed to provide guidance for implementing the new requirements for Internal Controls over Financial Reporting (ICOFR) per OMB Circular A-123, Appendix A. Prior experience with or knowledge of internal controls and federal financial statements is recommended.
Course Objectives:
Upon completion of this course, participants will be able to:
Understand and apply a structured and systematic approach for ICOFR
Define and explain the terminology, concepts, and requirements related to ICOFR
Identify the roles and responsibilities of the participants in the ICOFR process
Draw relationships between key programmatic and financial stakeholders in the ICOFR process
Coordinate ICOFR requirements with performance and accountability and other related requirements
Ensure reliable reporting under ICOFR
Avoid the pitfalls related to ICOFR
Prerequisites:
Supervisory discretion - Basic level