This video covers the "Internal Control Procedures". The following points are covered in this video.
1- What is the control process,
2- Types of internal controls,
3- What are primary controls, preventive controls, detective controls, corrective controls, and directive controls,
4- What are secondary controls, compensatory controls and complementary controls,
5- What are time-based classifications of internal controls, feedback controls, feedforward controls, and concurrent controls,
6- People based vs system based controls,
7- Financial controls vs operational controls,
8- What are control activities,
9- Tracing vs vouching,
10- Rules for segregation of duties, Authority, recordkeeping, custody, and reconciliation,
11- Independent checks and verifications,


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What is the control process, Types of internal controls,
3- What are primary controls, preventive controls, detective controls, corrective controls, and directive controls, What are secondary controls, compensatory controls, and complementary controls, What are time-based classifications of internal controls, feedback controls, feedforward controls, and concurrent controls, People based vs system based controls, Financial controls vs operational controls, What are control activities, Tracing vs vouching, Rules for segregation of duties, Authority, recordkeeping, custody, and reconciliation, Independent checks and verifications, What are internal controls, what is the controls procedures, what is the control process,
CPA, CMA, CMA lecture seires, CMA part 1 videos, best lecture for CMA, CMA US,

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