INTERNAL CONTROLS | COMPETENCY 05 | CMA USA | PART 01

Описание: 📌 CMA USA Part 1 – Competency 05: Internal Controls | HM Rana Umar Farooq

Welcome to Competency 05 of CMA USA Part 1 — Internal Controls, one of the most powerful and career-shaping areas of the CMA syllabus.
Taught by Sir HM Rana Umar Farooq, official HOCK International partner and one of the best CMA & CIA instructors worldwide.

🔍 What You Will Learn in Competency 05 – Internal Controls

Internal Controls is the backbone of reliable financial reporting, operational efficiency, fraud prevention, and governance.
In this lecture, you will learn:

✅ COSO Framework

Five components (Control Environment, Risk Assessment, Control Activities, Information & Communication, and Monitoring)

How organizations use COSO to strengthen financial reporting reliability

Real-world COSO examples and exam-focused applications

✅ Internal Control Activities

Approvals, authorizations, reconciliations, segregation of duties

Physical & digital safeguarding of assets

Preventive vs. detective controls

Common internal control weaknesses asked in the exam

✅ Risk Assessment

Identifying business risks

Fraud risk factors

Using risk analysis to design effective controls

✅ Governance & Ethics Link

Role of Board of Directors and Audit Committee

How ethical leadership strengthens internal controls

✅ Systems Controls (IT Controls)

General IT Controls (GITCs)

Application controls

Cybersecurity risks & management

Controls in cloud-based environments

🎯 Why Internal Controls Matter

Strong internal controls:

Reduce fraud

Improve compliance

Protect company assets

Strengthen investor trust

Improve management decision-making

Every multinational, bank, audit firm, and corporation depends heavily on professionals who understand controls — which is why CMAs with strong control knowledge are highly valued.

🎓 About Your Instructor – HM Rana Umar Farooq

Sir HM Rana has over 15 years of teaching experience and is known for simplifying complex concepts with real corporate examples. Thousands of CMA, CIA, ACCA, CA, and accounting professionals study under him globally.

📞 Contact

For queries or admissions:
📱 Sir HM Rana: +923247003235
📱 Personal Assistant: +923346982181


#CMAUSA #InternalControls #COSO #RiskManagement #FraudPrevention #Audit #AccountingStudents #HM_Rana_Umar_Farooq #HMRana #CMAExamPrep #ManagementAccounting #FinanceCareer