Internal Controls: Documenting Internal Accounting Policies and Procedures

Why Should You Attend:

Compliance standards from a regulatory standpoint are subject to the cost structure of implementation for organizations of varying size. SMEs have to adapt to an environment of heightening regulatory standards that seek to deploy overarching standards such as Sarbanes Oxley 2002 or potentially phase in sections of the Dodd-Frank Act. But what does this all mean when talking about internal regulation? How does a managerial accountant address internal controls from a compliance perspective? These questions and more will be answered in this webinar.

The cost to implement internal controls will vary across the public and private sectors, respectively. The importance of proper integration of finance and accounting however is the general premise that remains succinct to each sector. When done properly, internal controls can protect an organization’s assets and ensure the fiduciary role of the organization remains in compliance with broader regulations such as bank regulations (FDIC) and the regulatory oversight of state and federal governmental bodies.

Learning Objectives:

• Learn how internal controls protect the organization.
• Understand key areas that are impacted when there is a lack of internal controls.
• Audit your organization for compliance against potential breaches of regulatory standards.
• Understand the basics of a negligent hiring lawsuit and defenses that work and do not work.
• Get more familiar with industry best practices and become more knowledgeable of issues such as the auditing process and applicable regulations that impact your organization.
• Learn why knowledge of compliance standards is important to determining your internal control needs.

Areas Covered in the Webinar:

• Laws, regulations and litigation that can impact organizations.
• How the wrong hire can cause a lawsuit.
• Create an internal controls process that is not only effective, but saves time, money and reduces legal exposure.
• The auditing process.
• The practice of assessing internal controls from a technological standpoint.
• Best practices within public and private sector operations.
• Data analysis for auditing standards.
• Preparing for litigation and external (3rd party auditing).
• Establishing internal controls within the accounting office.
• Establishing internal controls within the finance office.
• Best practices for internal auditing.
• Implementation of due diligence tools, including establishing internal documentation and reporting standards.

Who Will Benefit:

• Human resources professionals
• Hiring managers
• Security professionals
• Finance staff
• Firms of all sizes that hire employees in accounting/finance
• Business directors
• Any CO involved with employee relations/human resources
• Employment managers
• Chief talent officers
• CEOs, CFOs, CTOs, CIOs, CPAs
• Recruiters/ consultants / third party hiring agencies
• Treasurers
• Auditors
• Accountants
• Company/business owners
• Managers/supervisors
• Public agency managers
• Audit and compliance personnel / risk managers

Instructor Profile:

Vidia S. Ramdeen, MPA, is CEO of Minerva Consulting and Ricochet Alternative Asset Management. He has worked within the finance industry in various roles for more than a decade and is consulted to examine policy and provide expert research. In addition, he has worked within local government and has spearheaded internal auditing initiatives. Mr. Ramdeen has been a reviewer for academic journals including the Academy of Management; and is a research writer and management, strategy, innovation and cyber security expert.

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