Proper Segregation Of Duties For Internal Control

This course examines and discusses key roles and tasks that should be evaluated for proper segregation of duties.

What you'll learn
Explore the definition of segregation of duties (SOD), and recognize how it applies to roles and processes.
Identify risks of inadequate SOD.
Recognize how SOD applies to individual business processes.
Identify SOD opportunities in role assignments.
Discover control mechanisms.
Requirements
Some experience with Human Resources.
Description
Segregation of duties (SOD) is the cornerstone of strong internal control. Inability to maintain proper SOD can hamper an organization's ability to deliver service efficiently. Personnel often struggle with the proper concepts of what contributes to SOD.  When resources are scarce, the concept is even more difficult.
This course delves deeper into core business processes and examines the concepts of which duties should be segregated to provide adequate internal control.
The basics of segregation of duties indicates that no one individual should be given or assigned job functions in more than one of the following categories:
Asset custodyAuthorization and approvalRecordkeepingReconciliation
This course examines each of the following business processes and discuss key roles/tasks that should be evaluated for proper segregation of duties.
Revenue and receivablesDisbursementProcure to payTreasury and cashInventoryPayrollIf you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Segregation of Duties for Core Business Processes. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.

Overview

Section 1: Introduction

Lecture 1 Introduction to Segregation of Duties for Core Business Processes

Lecture 2 SOD Basics

Lecture 3 Defining SOD

Lecture 4 Risks of Inadequate SOD

Lecture 5 SOD by Roles

Lecture 6 SOD Roles Procure to Pay

Lecture 7 SOD Roles Payroll

Lecture 8 SOD Receipting Function

Lecture 9 SOD Disbursement Function

Lecture 10 SOD Purchasing Function

Lecture 11 SOD Treasury

Lecture 12 SOD Payroll

Lecture 13 SOD Inventory

Lecture 14 Control Mechanisms

Lecture 15 Summary

Section 2: Supporting Materials

Lecture 16 Slides:Segregation of Duties for Core Business Processes

Lecture 17 Segregation of Duties for Core Business Processes Glossary/Index

Section 3: Review and Test

Anyone interested in Human Resources.,Anyone interested in Leadership and Management Skills.