From: Roesler, Lynda

To: Agency Internal Control Coordinators
State Accounting Financial Contacts

Date: Fri 10/2/2009 8:19AM

Subject: Audio Conference – Oct 7, 2009 – Internal Control Topics

This email is being sent to Agency Internal Control Coordinators and State Accounting Financial Contacts

I invite you to attend an audio conference on internal controls being sponsored by AGA.  Dave Hancox, who is one of the best presenters on internal controls that I have heard, will be on the audio call.

The audio is on Wednesday, October 7, from 1:00 – 2:50, State Capitol, Room 1524.  Please register at the following web site:  http://www.lincolnneaga.org/

There is no charge for agency staff to attend.  Register as a non-member (unless you are a member!).

Below is a partial description of the audio: 

Government managers and auditors at all levels will gain a better appreciation and understanding of internal control systems and how to assess their effectiveness.

The audio conference will cover the following topics:

·         Why internal controls are important and your responsibilities under that system

·         Internal control frameworks

·         Understanding COSO

·         Risk assessment models

·         Assessing and changing control systems

·         Strong controls, but the wrong controls—when to recommend preventive controls versus detective controls

·         Effectively conveying audit results and internal control findings

Guidance on internal controls is important and the seminal document Internal Control – Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) provides an excellent framework for organizations to follow. Unfortunately, organizations often place too much emphasis on the wrong control components under the misguided premise that control activities (i.e., policies and procedures) are the most critical elements of an organization's success. This misplaced focus can cause managers to respond with strong—but wrong—preventive controls over day-to-day activities, which ultimately frustrates efforts to correct an organization's real problems.

It's time to identify and implement the right controls to prevent a recurrence of past practices, which have harmed major organizations involved in fraud and scandals over the years. This audio conference will explore internal control concepts that can make for a high-performing organization and offer managers and auditors tools to assess internal controls within their organizations.

If you have any questions, please let me know.

Lynda Roesler

Internal Control Coordinator

State Accounting

State Capitol, Room 1309, Ph.  402-471-7737

email address:  Lynda.Roesler@nebraska.gov

web address:  http://www.das.state.ne.us/accounting/