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Internal Controls for Tribal Organizations:
Protecting Your Tribeís Financial Assets




Internal controls provide an organization with tools to effectively manage finances and safeguard assets. This two-day class will provide you with the skills needed to analyze and update current systems and establish internal controls. Tribal members have a right to expect that elected officials and tribal leaders are working to protect their tribe and safeguard its assets. Don’t go it alone — attend this class and find out how a system of internal controls can be used to guarantee that legal requirements are met, accurate data is provided to decision makers and property is protected.

Everyone working for a tribe is responsible for following procedures and maintaining integrity. Management must set the tone for the tribe and ensure that proper internal control systems are in place. Let our experienced instructor guide you through the process, whether you’re starting from scratch or reassessing your current procedures — no matter how large or small your finance office is. You’ll learn how to work with your auditor to establish controls and reduce findings. You'll also discover what you need to do to align your internal controls with OMBís recent changes to cost principles, audit and administrative requirements for federal awards. Most importantly, you’ll have the opportunity to design and evaluate internal controls in class so that you return to your job with tools that you can implement immediately.

T O P I C S   I N C L U D E
Overview of Internal Controls
  • Introduction to the COSO framework
  • Internal control concepts
  • Responsibilities and limitations
The Key Role of Management
  • Management's objectives and responsibilities
  • The impact of management's attitude and actions
  • Ensuring effectiveness
  • Responsibility for financial reporting and compliance
Framework of Internal Controls
  • The control environment:
    • Communication and information sharing
    • The internal audit
    • Role of the audit committee
  • Monitoring and assessing risk:
    • Responsibility
    • Assessment criteria
  • Policies and procedures:
    • Key tasks
    • Scope of control-related policies and procedures
  • Communicating effectively:
    • Meeting information needs
    • Policy and procedures manual
  • Monitoring and evaluating internal controls:
    • An ongoing process
    • Separate evaluations
Determining Your Control Requirements
  • Hands-on exercise
  • The first step in the process
  • Needs assessment
Evaluating Your Existing Controls
  • Practical exercise
  • Reviewing and evaluating your own procedures
  • Ensuring your controls are efficient and up-to-date
Controls Over Accounting and Financial Reporting
  • Program requirements
  • Identifying control cycles
  • Documentation of transaction/event processing
  • Recognizing potential risks
  • Identifying compensating controls
  • Matching potential risks and compensating controls
Practical Issues
  • Developing, implementing and sustaining internal controls
  • Designing effective and efficient controls
  • Financial controls:
    • Cash management
    • Payroll
    • Petty cash
    • Disbursements
    • Receipts
Revising and Implementing Your Internal Controls
  • Hands-on exercise
  • Revising existing policies
  • Implementation issues and strategies
Preventing and Detecting Fraud
  • Types and impact of fraud
  • Strategies for prevention and detection
  • Investigating incidences
  • Analyzing real-life scenarios

*Topics subject to change.

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