ACC/544 - Internal Control Systems

Course Description

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.

PLEASE NOTE:
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.

Course 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.

Notes

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.

Disclaimers

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.