Home Specialist skills Finance Introduction to Third Party Controls
Introduction to Third Party Controls
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Explain the impact of third party controls, in the context of internal controls over financial reporting (ICOFR).
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Explain how to identify third parties relevant to internal controls over financial reporting.
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Explain how controls operated by third parties can affect the accuracy of financial reporting of your organisation.
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Explain and illustrate what can go wrong at third parties and how that can impact your organisation.
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Describe the concepts of controls reports and the importance of assurance reports.
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Describe the expectations on oversight of controls operated by third parties.
Overview
Off the shelf (OTS)
This digital module outlines the risks involved when certain services or technological solutions are outsourced to third parties. As this does not form part of the organisation’s controls framework, yet the organisation remains responsible for these contributions, appropriate oversight controls need to be implemented to monitor controls performed by the third party.
Introduction to Third Party Controls assessment is made up of 10 multiple-choice questions selected from a bank of 30 questions, there is an 80% pass mark required.
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Delivery method
Digital
Course duration
0.5 hours
Competency level
Working
Delivery method
-
Digital
Course duration
0.5 hours
Competency level
-
Working
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