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K2's Understanding Key Controls Over Technology - On Demand (2 hours)

K2's Understanding Key Controls Over Technology - On Demand (2 hours)

Course Description

Internal controls over technology are essential to the effective operation of any business, and yet many financial professionals do not adequately consider the impact of IT controls on the effectiveness of the organization’s control environment.  This session reviews IT terminology and key IT controls, provides an overview of the types of policies and procedures needed in any organization, and discusses the scope and nature of major key third party control evaluations (SOC 1, SOC 2, SOC 3, SOC for Cybersecurity, and ISO 27001).  Attend this session and become more effective at understanding, documenting, identifying, and mitigating risks in your IT environment.

Major Topics

  • Understand common terminology used in information technology
  • Learn more about your organization’s IT controls at a high level, including common third party evaluations like SOC reports
  • Review common IT policies needed in most organizations

Learning Objectives

Upon completing this course, you should be able to:

  • Define key terms associated with major technology areas, including those associated with hardware, software, cloud apps, and authentication
  • Explain how the COSO and COBIT frameworks evaluate technology differently
  • Explain the goal of the CIS Controls and contrast its tactical approach to controls with the strategic view of internal control embraced by COSO and COBIT
  • Name at least five technology policies needed in an organization and provide a short definition of what the policy is designed to accomplish
  • List and define the major types of SOC reports and third party evaluations (SOC 1, SOC 2, SOC 3, and SOC for Cybersecurity), and for SOC 1 and SOC 2, explain the difference in a Type I report and a Type II report

Who Should Attend: Accounting and business professionals responsible for managing, maintaining, documenting, understanding, or auditing internal controls

Course Level: Intermediate

CPE Credits: 2 Hours Auditing  

Prerequisites: Basic knowledge of internal controls

Advance Preparation: None

Instructional Delivery Method: QAS on-demand learning, including review and final exam questions. To earn credit, participants must pass the final exam with a score of 70% or better within one year of registering for this course. Participants may attempt take the final exam up to 10 times.