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Internal Controls over Financial Reporting - 2 Part Series

This 2-part webinar will discuss the requirements for a financial institution when management is required to assess risk and the effectiveness of the bank’s system of internal controls over financial reporting. Enterprise risk management will be covered to provide participants with an overview of this very important risk management function.

OnDemand
July 17, 2024
July 18, 2024
Presented by Cynthia Dopjera
2h total length
4 CPE Credits
$549.00 or 2 Tokens

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Accounting/Reporting
  • Auditing
  • Management/Employee Development
  • Reporting
  • Board Member
  • Branch Manager
  • Controller/Accountant
  • Credit Analyst
  • Internal Auditor
  • Senior Management
  • Training Manager
  • Trainer

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Management is responsible for preparing financial statements in accordance with U.S. GAAP. In taking responsibility for the preparation of financial statements, management both implicitly and explicitly asserts that the financial statements:

  • contain information on transactions that actually occurred
  • that the amounts fairly represent the realizable values of assets or amounts of obligations owed, and
  • that the transactions were reported in the proper accounting period.

Management is also responsible for assessing risk across the enterprise and maintaining an adequate system of internal controls to manage risk and ensure accurate financial reporting, including the safeguarding of assets against unauthorized use, disposition or acquisition.

Internal control risk assessment systems, or frameworks, are guided by concepts developed to provide a level of assurance that the controls established will prevent or detect errors or fraud that would cause the financial statements to be misstated and therefore not providing reliable, accurate and complete information.

Included Webinars

  • Internal Controls over Financial Reporting - Part 1
  • Internal Controls over Financial Reporting - Part 2

Series Details

Internal Controls over Financial Reporting - Part 1

Part 1 will cover the concept of internal control and enterprise risk management frameworks established under COSO 2013 and 2017, respectively, and will take a look at the new Global Internal Audit Standards that serve as a basis for evaluating the quality of the internal audit function. The regulatory requirements for banks over $500 million and those over $1 billion in assets and the common areas of oversight that should be the focus on management, the Board of Directors, and members of the internal audit team.

Internal Controls over Financial Reporting - Part 2

Part 2 will focus on the development of risk and control matrices and how to identify key controls, secondary controls and operating controls. Also covered in Part 2 will be the financial statement assertions that management’s system of internal controls should be designed to support.

Examples and exercises on how to apply financial statement assertions to common banking transactions and sample risk and control matrices will be provided.

What You'll Learn

Each webinar in the series will cover specific topics relative to the subject matter.

Who Should Attend

Individuals seeking to understand management’s responsibility for financial reporting under U.S. GAAP, to include assessing risk across the enterprise, and how to build a framework for documenting and monitoring a bank’s system of internal controls, to include members of management, the board of directors, members of the accounting and internal audit departments.

Field of Study:Accounting

Skill level:Basic

Prerequisites:None

Advanced Preparation:None

Cynthia Dopjera

Instructor Bio

Ms. Dopjera, a Certified Public Accountant, has 40 years of experience focused on accounting and regulatory reporting for financial institutions. During the first 18 years of her career, Ms. Dopjera held various positions with responsibility across all operational areas, including accounting, internal audit, Call Report preparation and review while working for community as well as regional banks.

In 2000, Ms. Dopjera joined the public accounting firm of Harper & Pearson Company, P.C., where she served as practice leader for the firm's financial institutions practice covering community and regional institutions. The firm's services included financial statement audit, accounting, tax preparation and filing, internal control audit, Call Report audit, loan and asset quality review, and design and implementation of internal controls over financial reporting frameworks for institutions regulated under FDICIA and Sarbanes-Oxley. In 2018, Ms. Dopjera retired from Harper & Pearson Company, and currently provides accounting, consulting, and training services to financial institutions.

Continuing Education Credit Information

Internal Controls over Financial Reporting - 2 Part Series has been approved for 4 CPE credits. Credits are redeemable for Live attendance only.

OnCourse Learning is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Students can contact OnCourse Learning via email at support@oncourselearning.com to lodge complaints or issues.

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