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Internal controls – Industry sector

What is the difference between the types of e-learning activities?

  • A webinar is a live training activity which you must attend at the date and time indicated. You may access the training platform in your online file 7 days before the date of the webinar. We strongly recommend that you log in to the platform before the date of the webinar and follow the instructions in step 3 of your training path beforehand in order to test your computers’ configuration and prevent any connexion problems during your training activity.
  • Web conferences, web interviews, interactive training activities, webcasts and online training activities are recorded training activities. They can be accessed at all times after their availability date.

General objective

One of the more overlooked concepts in accounting, internal controls, ensures the integrity and reliability of accounting processes while protecting against fraud and corruption. Accordingly, this seminar overviews the main concepts of internal controls and the associated components, focusing on the COSO framework. Specifically, the seminar will present common internal control deficiencies specifically related to internal controls over financial reporting in a small-to-medium sized company and examine potential solutions through mainly discussion and some exercises. Participants will identify key controls in the financial statement reporting process to address some of the main risks as well as discover the importance of addressing segregation of duties. Furthermore, the seminar will explore the effect of technology on internal controls in small-to-medium sized companies and discuss how to monitor the internal controls in participants’ own organizations.


By the end of this training activity, participants will be able to:
  • recognize the relevant concepts of the COSO framework and how it relates to their company;
  • identify key controls to address some of the main risks in each component of the framework related to controls over financial reporting;
  • identify the importance of addressing segregation of duties, management override and potential for fraud;
  • understand the effect that technology may have on the development of strong controls and how technology can promote or hinder effective internal controls in a small- to medium-sized company;
  • understand the importance of documentation and monitoring of internal controls;
  • develop an action plan for improvement in internal controls including addressing the importance of internal controls throughout the organization.


  • Importance of internal controls over financial reporting
  • Management responsibility for internal controls
  • Identification of main risk areas and risk assessment in financial reporting
  • COSO
  • Control environment
  • Risk assessment
  • Information systems and technology
  • General IT controls
  • Control activities
  • Fraud types
  • Components of the fraud triangle
  • Professional skepticism
  • Use of service providers
  • Potential problems
  • Documentation and monitoring
  • Types of documentation
  • Consequences for non-compliance 

Target audience

Although most accounting professionals will gain value from this seminar, the session mainly benefits CPAs in industry with some knowledge of internal controls. 

Full description

No classroom training found.


For all

Training season: 2020-2021
Session No.: 0447
Accessible from: 2021-04-30, 00:00 to 2021-08-31, 23:59
Instructor: CPA Ontario
Duration: 7.00 h
Additional information: The starting date is depending on the upcoming recording date from CPA Ontario and is therefore subject to change.

Fee schedule

Session available

Unlimited places

  CPA member Non-member
À la carte $525.00 $675.00
CPA passport 525 PDC N/A
Multi-CPA passport 525 PDC N/A
Multi-user passport 525 PDC 675 PDC
CPA Promo 525 PDC N/A


For all

Training season: 2020-2021
Session No.: 1007
Start date: 2021-03-17, 08:30
End date: 2021-03-17, 16:30
Duration: 7.00 h
Instructor: François-Frédéric Fayad, CPA auditor, CA, Vincent Nicolet-Grégoire, CPA auditeur
Additional information: By registering for this live webinar, you consent to the recording of your name and discussions (audio/video/chat), without compensation or restriction, in the event that a recording is made for subsequent viewing for a fee.

Fee schedule

23 seats available

  CPA member Non-member
À la carte $525.00 $675.00
CPA passport 525 PDC N/A
Multi-CPA passport 525 PDC N/A
Multi-user passport 525 PDC 675 PDC
CPA Promo 525 PDC N/A