CPE Self-Study
What Is Your Role? When Accounting Policy Meets ICFR
Behavioral Ethics
Online: 2.0
This Anti-Fraud Collaboration CPE course highlights leading-practice recommendations from top company executives, corporate directors and auditors, and outlines the importance of creating accounting policies and internal controls, crafted through risk-based evaluations, that can be easily understood by non-accountants.

CPE On-Demand
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Product details

Who Will Benefit?

  • External/internal auditors, board members, financial executives, compliance officers, finance teams, and accounting and auditing academics

Key Topics

  • Accounting policies
  • ICFR
  • Best practices for reviewing existing accounting policies

Learning Objectives

  • How different members of the financial reporting supply chain leverage accounting policies and internal controls to stem fraud and reduce the likelihood of financial restatements.
  • The benefits of aligning accounting policies to technical accounting guidance.
  • Developing an effective ICFR regime that accounts for complex accounting areas.

Effective accounting policies and internal controls are key for stemming financial reporting fraud and reducing the number of financial restatements. So how can companies improve in these two areas? This Anti-Fraud Collaboration CPE course highlights leading-practice recommendations from top company executives, corporate directors, and auditors. In this 90-minute video, Cindy Fornelli, executive director of the Center for Audit Quality, leads a discussion about how leading companies develop their internal accounting policies so that those policies are aligned with technical guidance but still understandable to the non-accountants in their business units. Just as important are the internal controls companies must put in place to monitor compliance with those policies.

The Anti-Fraud Collaboration has assembled subject matter experts to discuss how successful companies utilize strong accounting policies to deter and detect fraud while providing actionable recommendations that each supply chain member can bring to their organizations. Panelists include the following:

  • Brian T. Croteau, partner, PricewaterhouseCoopers LLP, formerly the deputy chief accountant in the SEC’s Office of the Chief Accountant provides insight into the SEC and PCAOB policy statements on implementation of internal control reporting requirements.
  • R. Karl Erhardt, executive vice president and the chief auditor, MetLife, illustrates a suggested framework that companies can adopt to implement new accounting standards, outlining timing, the steps to take, and who inside the company should be involved.
  • Suzanne Hopgood, president and CEO, The Hopgood Group, a board and crisis consulting firm she founded in 1985, discusses the oversight role that audit committee and board members need to exercise around complex accounting areas.
  • Linda Zukauckas, EVP, corporate controller, American Express, shares how a large global organization develops controls around complex accounting areas and takes the necessary steps to ensure that non-accountants understand how to implement those policies correctly.

This course also outlines the importance of creating accounting policies and internal controls, crafted through risk-based evaluations, that can be easily understood by non-accountants. The discussion expands on insights contained in a 2017 Anti-Fraud Collaboration report, Addressing Challenges for Highly Subjective and Complex Accounting Areas.

Ratings and reviews

Center for Audit Quality Anti-Fraud Collaboration

The Anti-Fraud Collaboration, comprised of the Center for Audit Quality, Financial Executives International, the National Association of Corporate Directors, and The Institute of Internal Auditors, promotes the deterrence and detection of financial reporting fraud through the development of thought leadership, awareness programs, educational opportunities, and other resources targeted to the unique roles and responsibilities of the primary participants in the financial reporting supply chain. For more information, visit www.AntiFraudCollaboration.org.


American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

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CPE credits
: 2.0
NASBA Field of Study
Behavioral Ethics
Fraud, Financial Reporting, Anti-Fraud Collaboration, Internal Control, ICFR, Complex Accounting Issues, 167560, ICFR
Delivery Method
QAS Self-Study
Course acronym
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