In this course, students gain a broad perspective of the control environment and the role it plays in attainment of financial and operational goals of the organization. Topics include an overview of the control environment, risk management, internal control systems, control activities for business functions, controls for information technology systems, and reporting on internal controls.
This graduate course is 6 weeks.
This course has a prerequisite. Please see details in the Prerequisite section below.
Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.
Topics and Objectives
Fraud, Ethics, and Internal Control
- Summarize the components of the internal control environment.
- Distinguish the roles of the participants in the Corporate Governance Process.
- Defend a commitment to integrity and ethical values in the control environment.
Risk Management & Enterprise Resource Planning (ERP) Systems
- Explain the COSO (Committee of Sponsoring Organizations) four basic principles of Risk Assessment.
- Review Enterprise Resource Planning Systems.
- Specify suitable objectives for financial statement assertions.
- Compile an inventory of fraud risks and assess incentives, opportunities, and rationalization.
Control Activities: Revenues and Cash Collection
- Design control activities to mitigate risk for sales processes.
- Create an internal controls plan for sales processes.
Control Activities—Expenditures: Purchases, Payroll, and Fixed Assets
- Design control activities to mitigate risk for purchases, payroll, and fixed assets.
- Create an internal controls plan for purchases and fixed assets.
Governance and Control Activities in Information Technology
- Build control activities for information technology.
- Illustrate the key components of IT Governance.
Evaluation and Reporting on Internal Controls
- Plan an evaluation and assessment of internal controls.
- Compare and contrast internal controls reporting requirements for public and private organizations.
A prerequisite is required for this course. The purpose of a prerequisite is to ensure students have the knowledge and/or skills needed to be successful in the course. Students are required to provide proof of prerequisite during the enrollment/registration process. To meet to a course prerequisite requirement, a student must have successfully completed the prerequisite course at University of Phoenix, provide proof via transcript of completing a comparable course (at least 75% match) or higher level course with at least a grade of C at another institution or have a University of Phoenix approved Student Appeal on file with the University.
This course requires the prerequisite below. Click on the prerequisite course to review the course topics and objectives.
ACC/421 – Intermediate Financial Accounting I or equivalent
This graduate level course requires proof of completion of a Bachelor's degree. Be prepared to provide documentation during the checkout process.
During the checkout process you will be prompted to provide proof of the requirement(s). If you completed the prerequisite at another institution be prepared to upload an official/unofficial transcript. If you have questions about meeting the prerequisite requirements for this course please contact an enrollment representative at 866-345-1800.
The University of Phoenix reserves the right to modify courses.
While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Representative
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
If you have a question please contact us at 866-345-1800.