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Review of Internal Control and Walkthrough Procedures
ROSEMARY DE MESA

General concept of internal control


- Definition of internal control
- Responsibility of internal control
- Internal control – Key concept

Components of Internal control
- Internal control framework
- Inter-related component of internal control
- Control environment
- Risk assessment
- Control activities
- Information and communication
- Monitoring

Considering internal control
- General phases of internal control evaluation
- Nature and extent on understanding relevant controls
- Walkthrough Procedures on Selected Transaction Cycles
- Billings/Receivables and Collection Cycle
- Purchase/Payables and Payment Cycle
- Why assess control risk?

Test of Controls
- Purpose of test of control
- Evaluating control deficiencies
- Identifying significant risks
- Testing internal controls

  • ROSEMARY DE MESA (CONSULTANT at DIAZ MURILLO DALUPAN & CO.)

    ROSEMARY DE MESA

    CONSULTANT at DIAZ MURILLO DALUPAN & CO.
Lunch Break
Review of Internal Control and Walkthrough Procedures
ROSEMARY DE MESA

Other matters to consider
- Communicating deficiencies in internal control
- Internal control consideration on small entities
- Limitations of internal control

Presentation of actual Documentation on Test of Control and Walkthrough Procedures

Workshop/Case Study

  • ROSEMARY DE MESA (CONSULTANT at DIAZ MURILLO DALUPAN & CO.)

    ROSEMARY DE MESA

    CONSULTANT at DIAZ MURILLO DALUPAN & CO.