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.

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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