Core Courses

• None

Elective Courses

• FFMCP Financial Management Master Track
• FFMCP Accounting Master Track
• Enterprise Risk Management
• Internal Control

Mandatory

Suggested

Understanding Internal Control

• Accountability
• What Is Internal Control?
• Why Internal Control Is Important
• The Fundamental Components of Internal Control
• What Controls Mean to Managers
• The Role of Internal Control as an Integral Part of Management

GAO's Internal Control Standards

• The GAO Standards
• Internal Control—Integrated Framework
• The Five GAO Standards for Internal Control
• How You Can Use GAO Guidance to Design and Assess Controls
• Exercise: Examples of Five GAO Standards for Internal Control

Legal Requirements and the Internal Control Process

• Internal Control Mandates
• The Internal Control Requirements of the Integrity Act
• Federal Manager's Guidance from OMB Related to Internal Control
• How Internal Control Is Assessed
• Step 1: Organizing an Integrity Act Program
• Step 2: Segmenting the Agency into Assessable Units (AUs)
• Exercise: Segmenting the Agency into Assessable Units

Risk Assessment

• Step 3: Risk Identification and Assessment
• The Relationship Between Risk and Internal Control
• The Three Major Types of Risk
• Risk Management
• How the Risk Management Process Is Broken Down
• How Risk Management Is Accomplished

Conducting an Internal Control Review

• Step 4: Develop Management Control Plans and Update Annually
• Step 5: Conduct Internal Control Reviews (ICRs)
• The Major Steps in an ICR

Corrective Action Plans

• Step 6 in the Internal Control Process: Take Corrective Actions
• Step 7 of the Internal Control Process: Track Internal Control and Corrective Action Plans

Internal Control Reporting: Legal, Regulatory, and Agency Requirements

• Step 8 in the Internal Control Process: Prepare Reports on Results