As part of auditing federal financial statements, it is necessary to have an understanding of internal control (including FAM, SAS 103 – 112, etc.). In that regard, it is critical to assess the systems, applications and databases that map to the significant line items on the financial statements. This course addresses the mechanics of performing General and Application Controls Reviews, while applying the various regulatory and authoritative requirements (including FAM, GAGAS, NIST, etc.). The course uses the FISCAM methodology for performing such reviews. While the course focuses on IT, it is tailored for financial auditors wishing to understand the IT steps in support of financial statement audits.

The course covers the following topics:

·          Introduction to General and Application Controls Reviews

·          General Controls Reviews

o         Security Management (SM)

o         Access (AC)

o         Configuration Management (CM)

o         Segregation of Duties (SD)

o         Contingency Planning (CP)

·          Application Controls Reviews

o         Understanding the Application

o         Application Level General Controls (AS)

o         Business Process Controls (BP)

o         Interface Controls (IN)

o         Data Management System Controls (DA)

CPE credits: 8 to 16

Field of Study: Auditing

Format: Lecture, Group Discussion and Class Examples

Length: 1 - 2 days

For pricing and scheduling information, contact onsitecourses@agacgfm.org.