This course provides students with a background in internal controls, specifically in internal control frameworks. It deals primarily with the objectives and components of an internal control framework, and it emphasizes the need for internal control and costs of historic internal control failures.

Course Objectives:

Overarching all other objectives, after taking this course, students should understand the importance of legal and ethical conduct in all business and non-business relationships. In general, students will gain an understanding of the nature and importance of an internal control system and the major internal control frameworks utilized in this country. Students will integrate the internal control framework with the government mandates of Sarbanes-Oxley. Students will understand the universality of the concept of risk in all ventures and how risk is identified, assessed, accepted, rejected and/or controlled by any enterprise. Students will develop the ability to view any enterprise through the lenses of risk and internal control.