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Internal Controls to Help Manage Risks 101
This course is an introduction/refresher to the GFOA-recommended Committee of Sponsoring Organizations (COSO) framework for internal controls.
Taught through a combination of lectures, case studies, and facilitated discussions, this workshop reviews the basics of internal controls. It provides participants with the tools necessary to manage risks faced by public sector organizations.
Benefits of Attending
Participants will discuss and gain an understanding of the following:
The five COSO components and seventeen related principles
Your control environment as it relates to information security and fraud
Introduction to control automation and continuous monitoring
Developing risk assessments for governmental programs
Best practices for internal controls
Controls for the Accounts Payable process – start to finish
Basic policies related to the disbursement of funds
Specific topic areas include: Purchase Authorization, reimbursement of personal expenses, and PO-related vs. non-PO-related invoices
Who Should Attend?
This online workshop is for the municipal finance practitioner who is responsible for the internal controls and the financial transactions, such as the accounts payable function/process, as well as Finance Managers or Project Managers who have budget authority for local government spending.
Look for additional hands-on workshops in this series next month.
Part 2: Internal Controls 201 – Risks, Control Activities & Monitoring
About Your Speaker
Ed McCaulley is a Principal Consultant at F.H. Black & Company Incorporated. Specializing in risk management, he collaborates with our clients to mitigate organizational risks by redesigning business processes and selecting, implementing, and supporting enabling technologies.
For more than 25 years, Ed has been a driving force for insightful risk management, financial management, accounting, and internal auditing for organizations of all sizes. Before joining FHB, he was Vice President at one of the US’s largest banks, where he was hired to bring a rapidly growing business line into compliance with the bank's operational risk management policy and program that supported revenue growth. He obtained buy-in from a reluctant business that strengthened risk and control self-assessments (RCSA) and vendor management of outsourced processes and ultimately passed regulatory scrutiny
Ed is an attorney, holds a Certified Public Accountant (CPA) designation, a Juris Doctorate (JD), a Master of Business Administration (MBA), a Bachelor of Business Administration Degree (BBA) in Accounting, and is the author of Back to Basics: Balance Sheet Reconciliations which was featured in the Internal Auditor Magazine.
This course is eligible for continuing professional education credits. Please check with your professional association to confirm that this qualifies for your personal CPD record.
10/10/2023 8:30 AM - 10/11/2023 12:00 PM
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