Syllabus F1. Management & Internal Control Systems 1 / 2

a) Evaluate the key components or features of effective internal control systems.
b) Assess the need for adequate information flows to management for the purposes of the management of internal control and risk.
c) Evaluate the effectiveness and potential weaknesses of internal control systems.
d) Discuss and advise on the importance of sound internal control and compliance with legal and regulatory requirements and the consequences to an organisation of poor control and non-compliance.
e) Recommend new internal control systems or changes to the components of existing systems to help prevent fraud, error or waste.
Management & Internal Control Systems