Auditing Internal Controls for Governments

Author: Robert K Minniti

Auditing internal controls for a government entity is more subjective than auditing other areas of a client. There is no “one size fits all” set of internal controls. This course reviews the COSO Framework for Internal Control and discusses auditing a client’s internal controls. From conducting walkthroughs to hypothesis testing we will review the various aspects of auditing and evaluating internal controls.

This course will also review the component evaluation of the internal controls and will discuss the difference between sampling and using data analytics to test populations. We will specifically address the government auditing standards as they relate to internal controls.

Publication Date: June 2021

Designed For
CPAs, CMAs, CGMAs, internal auditors, CIAs, external auditors, managers, CFOs and others responsible for internal controls.

Topics Covered

• A Review of Internal Control
• The COSO Framework for Internal Control
• Auditing Internal Control Components
• Auditing Internal Controls: Relying on the Internal Auditor's Work
• Audit Sampling
• Evaluating Internal Controls

Learning Objectives

• Identify the COSO Framework for Internal Control
• Identify the internal control standards in the Green Book
• Identify audit procedures for conducting an audit of internal controls
• Recognize in which form internal control documentation can be
• Describe internal control components often considered to be the most important part of the internal control framework
• Identify a risk response where no action is taken to respond to the risk based on the insignificance of the risk
• Identify the correct equation for audit risk

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Auditing (Governmental) (2 hours)

Program Prerequisites
Basic understanding of auditing and/or similar experience in auditing.

Advance Preparation
None