ICIZ's Assessment Programs
The professional staff of the Internal Control Institute™ has developed assessment tools for both organizations and individual professionals. The assessment questions are based on professional literature, laws, regulations, and standards regarding internal control, financial reporting, and corporate governance. Input and review is provided by the ICIZ Board of Advisors comprised of Corporate Executives, Board Members, CPA Firm Partners, and Legal Counsel. The Assessment Tools have been field tested in several organizations and with individual professionals.
The internal control quantitative assessment uses the COSO model as a basis for evaluating the effectiveness of a corporation’s system of internal control. In addition to identifying control strengths and weaknesses; the assessment produces a single quantitative score on a scale of seven for use by management and the Board of Directors to evaluate the overall effectiveness of control in the corporation. This internal control assessment program provides the necessary tools and templates for a company to undertake an assessment of its own internal control processes and organization structure. It provides the methodology for an organization to answer the question "How Effective is our system of Internal Controls?" This is the initial step in installing an improvement program. This assessment provides an internal control baseline for the company to use to measure internal control improvements.
The CICS Common Body of Knowledge Assessment helps an individual determine their knowledge as it relates to governance and control practices. Results point out areas of knowledge that may require additional training and experience. The assessment also provides a measurement to the individual's readiness for CICS certification. The assessment measures core knowledge in eight critical areas:
Internal Control - Principles, Terms and Concepts
Internal Control Environment
Assessing Application Controls
Business System Control Assessment
Internal Control Measurement and Reporting
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