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Accounting and finance: risks and controls

Organisations need funds to initiate and sustain operations, and they need functions and systems to receive, manage and distribute these funds. 

This course provides an overview of the purposes of these functions and systems, and the common risks associated with them. It will consider what controls can be embedded to manage these risks.

Who should do the course?

You will find this course useful if you are:

  • a newly qualified internal auditor who needs an overview of the accounting and finance activity,
  • a more experienced internal auditor who needs a refresher or is auditing the accounting and finance activity for the first time.

What will I learn?

After completing this course, you will be able to:  

  • describe the purposes of the accounting and finance activity,
  • identify eight key functions and six key systems within the activity,
  • provide examples of risks in each system and their impact,
  • express the control objectives and control to treat identified risks, and
  • differentiate between fraud and improper activities, and assess the potential for them to occur in accounting and finance systems.

What will I do?

The course comprises three written topics and a final quiz. You will be recorded as having finished the course when you have completed these components, including achieving a minimum grade of 80% on the final quiz. On finishing the course, you’ll be able to download the course summary. We will email your certificate of completion which details the CPE points.

You have 90 days to complete the course; however, it shouldn’t take you more than two hours to complete.

Technical requirements

The course is online so you will need access to an internet-enabled device. The course works best on a laptop or PC with a mouse – some quiz questions are tricky to do on a tablet or touchpad.

Important information

Access to our course content will be made available for 90 days from the date of purchase. After successfully completing a course, you’ll be able to download the relevant course summary to keep and refer to in the future. You will also receive a CPE certificate for your records.

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After booking a course, please take the following steps to access it:

  • Log into and go to
  • Click on the blue button that says ‘Access the study system here’ to access your personalised study system dashboard where you will see the course(s) you have purchased.  
  • If it is your first time using the study system, you will need to enter your email address on your profile page to activate access. 

CPE competency areas covered

  • Performance (risk management)
  • Performance (internal controls)
  • Environment (accounting and finance)

2 CPE points

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Standard Member £50.00 ex. VAT
Standard Non-Member £62.00 ex. VAT

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