Learn how governments use internal controls to protect their capital assets.

A NASBA-approved course developed by the University of Georgia for government employees. Internal controls are the first line of defense in assuring that assets are safeguarded against fraud, waste and abuse.

Snapshot

Format: Online

Hours: 4.6

Credits: 0.46 CEU / 5.5 CPEs

When: Start anytime

Cost: $219 - $259

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Internal Controls: Capital Assets is an online, self-study course developed by the University of Georgia for government employees. The course explains:

  • the components of a comprehensive internal control system and the importance of internal controls
  • the comprehensive internal controls that should exist for capital assets
  • what is required for a proper segregation of duties for managing capital assets

The online format allows you to progress at your own pace, augmented by consultation with a financial professional upon request. 

You will learn:

  • How fraud occurs in the capital asset function and why strong internal controls are needed
  • The five interrelated components of an effective control system
  • Legal and accounting perspectives on the importance of internal controls
  • How to account for capital assets in a governmental setting
  • What duties should be segregated for effective control of capital assets
  • How to recognize and report the different types of internal control deficiencies

Certificate of Program Completion
The course is one of four courses in the Internal Control series, which includes:

The University of Georgia will award a Certificate of Program Completion to graduates who successfully complete the four-course series in a 12-month period.

This dynamic course has a detailed curriculum consisting of 6 lessons:

Lesson 1 — Internal Control Review

  • Recall the definition of internal control.
  • Recognize the three categories of objectives and the five interrelated components of an effective internal control system.
  • Recall how objectives and components work together to create an effective internal control system.

Lesson 2 — Importance of Internal Control

  • Recall why internal controls are valuable to an organization.
  • Recognize internal control within Generally Accepted Government Auditing Standards (GAGAS) and the Single Audit Act.
  • Recall how internal controls are a deterrent to fraud.

Lesson 3 — Capital Assets - An Overview

  • Recall the definition of capital assets.
  • Identify accounting for capital assets in government fund, proprietary fund and government-wide financial statement.

Lesson 4 — Effective Internal Controls Over Capital Assets

  • Recall the control objectives relating to capital assets.
  • Identify the connection between the capital asset objectives and the five interrelated components of an effective internal control system.
  • Recall how fraud occurs in the capital asset function.

Lesson 5 — Segregation of Duties

  • Recall the definition of segregation of duties.
  • Identify duties should be segregated in the capital asset function.
  • Recall how to complete a segregation of duties evaluator for a sample government.

Lesson 6 — Internal Control Deficiencies

  • Recall internal control testing performed by external auditors.
  • Recognize the components for reporting internal control deficiencies.
  • Recognize the different types of internal control deficiencies.

Who Should Attend?

Internal Controls: Capital Assets is one of a series of four internal control courses designed primarily for state and local government employees who require knowledge of basic internal controls.

  • Local governmental employees who require knowledge of internal controls over capital assets.
  • Professionals with private sector experience who want to gain knowledge of internal controls over capital assets
  • Accounting professionals preparing for the CPA exam or seeking continuing professional education
  • Local government employees who seek to meet requirements of the Local Government Finance Officer Certification Program offered through the University of Georgia’s Carl Vinson Institute of Government

Course Information

Course Number: 

1585-001

Course Date Info: 
  • Enroll at any time
  • Complete the course's required online quizzes and exercises within 30 days of issuance of course access details (i.e., a Welcome email containing the course URL, username and password)
  • To complete this course, you will read the lessons and complete each lesson's interactive exercises and quizzes. At the conclusion of the final lesson, you must also successfully complete an online final examination with a score of 70% or better. Throughout the lessons, you will encounter many different types of interactive exercises, including matching, drag and drop and jumbled words
  • View How It Works and Frequently Asked Questions for more details about the course

Course Format:
Field of Study: Auditing (Governmental)
Delivery Method: QAS Self Study
Advance Preparation: None
Program Level: Basic
Prerequisites: None

Course Fee(s): 

$219 (US Funds) — Residents of Georgia
$259 (US Funds) — Non-residents of Georgia
$50 (US Funds) — One-Month Extension (Only one extension is granted per participant.)

Prepayment is required to be registered. Prices listed are per person. Prices are subject to change.

Cancellation/Refund Policy:
The Georgia Center will gladly issue full refunds for cancellations received in writing prior to the release of course access information. You may cancel your enrollment at any time during the course and receive a refund less a $50 administrative fee, provided that you have not accessed the online course material at all. During the first 10 days of your course, if you have not completed any course work, you may opt for a one-time transfer of your enrollment to another student for a fee of $50; the new student (i.e., substitute) would have up one month from the transfer date to complete the course. Written requests should be sent to  student@georgiacenter.uga.edu.