FMN Accounting

FMN - 2020/January, Seg.3 - Process Tips to Increase ICFR Effectiveness

Course Overview
Internal control over financial reporting continues to be an intense focus of regulators. Are there actually benefits to a company of a more proactive versus a reactive system towards internal controls, or is it just a compliance exercise? Ron Kral, a partner with Kral Ussery LLC, reviews the related purposes and benefits of internal control over financial reporting. Kral answers the question of why some companies succeed while others struggle with their system of internal control. He offers five tips for increasing the effectiveness of an organization’s ICFR process.

Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Recognize the key elements of internal control as defined in COSO's Internal Control – Integrated Framework;
  • Identify the reasons that companies struggle to recognize the dynamic nature of ICFR;
  • Recognize the related purposes and business benefits of ICFR; and
  • Identify the things a company can do to increase the effectiveness of their ICFR process.

Prerequisites/Advanced Preparation:

Work experience in financial reporting or accounting, or an introductory course in accounting.

Speaker / Author:

FMN Online
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.


Price (USD)

Standard: $69.90


Course Code : FMN1334-FM

Release Date : 01/10/2020
Expire Date : 08/14/2021
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

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