AGA National President-Elect, Jim Arnette will discuss the importance of internal controls. Download the handout for the session using the following link, Internal Controls: “Don’t Sweat the Small Stuff.”
Don’t sweat the small stuff…It’s all small stuff except when you’re talking about internal controls. Failure to implement or follow even the simplest of internal controls can lead to a major fraud. This session will give the audience a general overview of internal controls including a brief history, why they are needed, who is responsible for implementing them , how they relate to audit, the 5 components of internal control, and examples of effective internal controls. Sprinkled throughout the presentation will be descriptions of actual frauds that occurred in Tennessee and how they could have been prevented.