Successful organizations understand the importance of effective internal controls, and develop a system to stay on the intended course. Those that design policies and procedures benefit by knowing why control measures are necessary. Examine key concepts and the importance of strong internal control policies. Examine why measures are needed and control creation methods. Discuss strategies to implement policies and procedures.
Underlying concepts of internal control. Defining where and why controls, policies and procedures are needed. Legacy control measures that are still important for businesses today. Creating control measures that address the use and protection of technology.
A basic understanding of Internal Control concepts.
CPAs, accounting and business professionals.
Recognize key internal control concepts, including the four types of internal control: preventive, detective, deterrent and compensating. Explain how they would create strong internal controls. List reasons that control measures are required such as to deter fraud or reduce operational inefficiencies. Explain the importance of the control environment as implementation efforts are ongoing. List three segments of an organizations technology infrastructure that must be controlled.
Karl Egnatoff is a Certified Public Accountant (CPA) based in Myrtle Beach, South Carolina. He has worked as a consultant, trainer and programmer related to financial and business technology projects for the past 20 years. Prior to this, Karl worked in public accounting as well as in private sector accounting for a period of approximately six years. He has been teaching group live and web-based continuing education for the past six years. In addition to being a CPA, he is also a Certified Information Technology Professional (CITP).
Karl is a member of the West Virginia Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Information Technology Section of the American Institute of Certified Public Accountants. He has also achieved a number of technology certifications including Microsoft Certified Professional (MCP), Certified Software Engineer (CSE) and Certified Integration Developer (CID).
During the course of his career, Mr. Egnatoff has owned and operated a number of successful businesses. All of these were business technology entities that provided consulting and training services. The experience he garnered while with these organizations serves him now as he teaches continuing professional education in association with K2 Enterprises.
Karl graduated from Marshall University with a Bachelor of Business Administration degree. During his time in college he participated in division I Cross County competing on the varsity squad. He was also on Marshall’s Track team. Karl and his wife Lana live in Myrtle Beach, South Carolina and have been married for twenty-four years. They have two grown sons, Jordan and Steven.
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