Internal Controls - Implementation for SMEs (On-Demand - CPA PRO)
Former Title: Implementation of Internal Controls in the SME Context
Overview
Many Small to Mid-size Enterprises (SMEs) are privately held and have diverse expectations of good governance, management responsibilities, and appropriate internal control. Depending on the size of the organization, the title now used to describe this vital function has also become more varied: Controller, Director of Finance, Accounting Manager, VP Finance and even CFO. This is a hands-on seminar intended to give new, and experienced, financial leaders an opportunity to explore and discuss implementation of internal controls in the SME context, using the COSO Enterprise Risk Management Methodology.
Access expires 180 days from purchase date |
Course Description
As expectations of this key function continue to broaden to incorporate IT, HR and operations responsibilities, one of the main challenges facing CPAs is to assume increasing operational responsibilities yet maintain efficient and cost-effective internal controls and segregation of duties. The risks to the organization have broadened, resulting in increased risk to the CPA as the leader of the finance function, and personally as a director or officer. Through discussion and exercises using actual real-world examples, participants will work through two key cycles, the Purchase-To-Pay process, and the Order-To-Cash process, with the goal of understanding the conditions for the successful implementation of internal controls in the current SME context.
Applicable for
Learning Objectives
- increase awareness of emerging trends and issues such as cloud computing and cybersecurity that impact internal controls, and CPA’s in the SME context
- recognize the governance and leadership conditions for success when setting up internal controls
- evaluate risks linked to internal controls and adapt the controls of the organization according to its tolerance and ability to take risks
- use two key business cycles, Purchase-To-Pay (P2P) and Order-To-Cash (O2C), to analyze and prepare appropriate control recommendations including: process analysis, risk assessment, and control objectives
- use the COSO Enterprise Risk Management (ERM) methodology, design and evaluate adequate controls for each of two key processes: P2P and O2C
- identify the links between the expanded role of the controller, increased risk of errors and fraud, and appropriate internal controls
- identify the roles and responsibilities of the various stakeholders of the organization as relates to adequate internal controls in the SME context
Content
- current trends and emerging issues that impact internal control
- governance and leadership in the SME context
- overview of the COSO Enterprise Risk Management (ERM) internal control model.
- case study: Steps for implementing internal controls in a Sales process. Order-To-Cash (O2C)
- case study: Steps for implementing internal controls in a Purchasing process. Purchase-To-Pay (P2P)
- using a checklist approach to effective implementation of internal controls.
- establishing the conditions for the successful implementation of internal controls
Course Content Created: October 2022
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Michael dos Santos, FCPA, FCMAAbout This Product
On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.
Please note that not all on-demand courses include downloadable materials such as course notes or slides.
How to get started
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
- 7
- CPD Hours
- 0.75
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.
Internal Controls - Implementation for SMEs (On-Demand - CPA PRO)
Former Title: Implementation of Internal Controls in the SME Context
- 7
- CPD Hours
- 0.75
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Overview
Many Small to Mid-size Enterprises (SMEs) are privately held and have diverse expectations of good governance, management responsibilities, and appropriate internal control. Depending on the size of the organization, the title now used to describe this vital function has also become more varied: Controller, Director of Finance, Accounting Manager, VP Finance and even CFO. This is a hands-on seminar intended to give new, and experienced, financial leaders an opportunity to explore and discuss implementation of internal controls in the SME context, using the COSO Enterprise Risk Management Methodology.
Access expires 180 days from purchase date |
Course Description
As expectations of this key function continue to broaden to incorporate IT, HR and operations responsibilities, one of the main challenges facing CPAs is to assume increasing operational responsibilities yet maintain efficient and cost-effective internal controls and segregation of duties. The risks to the organization have broadened, resulting in increased risk to the CPA as the leader of the finance function, and personally as a director or officer. Through discussion and exercises using actual real-world examples, participants will work through two key cycles, the Purchase-To-Pay process, and the Order-To-Cash process, with the goal of understanding the conditions for the successful implementation of internal controls in the current SME context.
Applicable for
Learning Objectives
- increase awareness of emerging trends and issues such as cloud computing and cybersecurity that impact internal controls, and CPA’s in the SME context
- recognize the governance and leadership conditions for success when setting up internal controls
- evaluate risks linked to internal controls and adapt the controls of the organization according to its tolerance and ability to take risks
- use two key business cycles, Purchase-To-Pay (P2P) and Order-To-Cash (O2C), to analyze and prepare appropriate control recommendations including: process analysis, risk assessment, and control objectives
- use the COSO Enterprise Risk Management (ERM) methodology, design and evaluate adequate controls for each of two key processes: P2P and O2C
- identify the links between the expanded role of the controller, increased risk of errors and fraud, and appropriate internal controls
- identify the roles and responsibilities of the various stakeholders of the organization as relates to adequate internal controls in the SME context
Content
- current trends and emerging issues that impact internal control
- governance and leadership in the SME context
- overview of the COSO Enterprise Risk Management (ERM) internal control model.
- case study: Steps for implementing internal controls in a Sales process. Order-To-Cash (O2C)
- case study: Steps for implementing internal controls in a Purchasing process. Purchase-To-Pay (P2P)
- using a checklist approach to effective implementation of internal controls.
- establishing the conditions for the successful implementation of internal controls
Course Content Created: October 2022
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Michael dos Santos, FCPA, FCMAAbout This Product
On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.
Please note that not all on-demand courses include downloadable materials such as course notes or slides.
How to get started
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.