Internal Audit Best Practices

Best Practices for Internal Auditors/Part IV: Key Accounting Processes

Course Overview
This course provides an overview of the best practices for internal auditors with respect to analyzing and testing key accounting processes. Specifically, this course is intended to provide an overview of the integrated accounting environment and discuss the procedures an internal auditor should consider when analyzing and reviewing the billing, disbursement, payroll, and financial reporting process. In addition, this course will also provide relevant discussions of the methodology and road map to conduct a process review, describe what is included within a transaction walkthrough, and assist an internal auditor in identifying potential red flags within these key accounting processes.

Learning Objectives:

After completing this course, the course participant should be able to:

  • Recognize the overall mapping of accounting and financial reporting processes to significant accounts
  • List the common steps involved in a typical process review and analysis
  • Differentiate between the key aspects in a typical process flow
  • Identify the key steps involved in a walkthrough
  • Recognize red flags within the billing, disbursement, payroll, and financial reporting process
  • Recognize common findings within the billing, disbursement, payroll, and financial reporting process

  • Content Partner:

    SmartPros Ltd.

    SmartPros Ltd. is a leader in online and offline continuing education for
    accounting, finance and engineering professionals. With over 2,000 hours of
    content, SmartPros has been providing mandatory continuing education
    products since 1981. SmartPros provides services and content to its
    professional and corporate clients, in a variety of media including Web, CD
    ROM, and video. In the accounting market, SmartPros also has a predominant
    news and information portal which receives 200,000+ visits per month and
    provides services to over 100,000 subscribers. SmartPros' customers include
    50% of the Fortune 500, as well as the major firms and associations in each
    of its professional markets.

    Prerequisites/Advanced Preparation:


    Speaker / Author:

    Anthony S. Chan is president of CA Global Consulting Inc. He is a seasoned CPA, former audit partner, CFO and finance executive with over 25 years of professional experience in auditing and SEC reporting, mergers and acquisitions, business turnaround, internal controls and risk management, FCPA and SOX compliance, financial and operational due diligence as well as CFO advisory. He is Audit Committee Chair & Board of Director of the New York State Society of CPAs. Mr. Chan holds an MBA degree in Finance and Investments from Baruch College of the City University of New York and a B.A. degree with dual majors in Accounting and Economics from Queens College of the City University of New York.

    Software & Hardware Requirements:

    • 56k or Greater Internet Connection
    • Adobe Acrobat® Reader for the .pdf files
    • Adobe® Flash® Player 9 or higher
    • Modern DHTML Compatible Browser
    • Ram: 256 MB minimum
    • Sound card with speakers/headphones
    • Windows or Mac OS


    Price (USD)

    Standard Rate: $49.90


    Course Code : 99CHA06

    Release Date : 08/03/2016
    Expire Date : 09/01/2020
    Credits :
    CPE 2.00
    QAS 2.00

    Course Level : Basic
    Course Type : Self-Study
    Length : 1hr 40min
    Passing Grade : 70%
    Field Of Study : Auditing
    Theme : Internal Audit Best Practices

    Format Type : eLearning
    Mobile Compatible

    Returning Subscribers

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