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Credit ControlsCode: 24-CREDIT
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Course description and objectives:
Introduction to the Course
- Recognize the definition of internal control along with internal control conceptsincluding the continuum of internal controls for businesses, approaches for addinginternal controls, and balancing costs of an evolving internal controls systems.
- Properly identify risk categories including internal and external risk in addition toinherent and residual risk.
- Recognize the typical fraud risk factors as well as the components of the FraudTriangle and Fraud Diamond.
- Recognize the principles to keep in mind when constructing internal controls aswell as the limitations or conceptual failings of internal controls.
- Properly identify internal control categories including preventative or detectivecontrols and manual or automated controls.
- Recognize the primary steps required to construct a system of internal controls aswell as COSO’s Internal Control – Integrated Framework and the Sarbanes OxleyAct.
- Properly identify the three primary credit activities.
- Properly identify key documents in the credit process.
- Recognize the process specific controls related to the credit process.
- Properly identify additional credit process considerations, periodic monitoringanalysis and other procedures, and specific credit policy considerations.
Recommended CPE Hours: 3
Level of knowledge: Update
Prerequisite: Basic understanding of Accounting
Advanced Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase