Internal Controls: Guidelines, Concepts and Implementation

–       The factors behind each component of internal control

–       How to measure risk likelihood and its potential impact

CONTENTS:

+ Defining Internal Controls

Understanding the objectives of sound internal controls

Establishing which control framework is right for your organization

Meeting the objectives that internal controls must satisfy

+ Creating the Internal Control Structure

Understanding the components of Internal Controls

Hard controls vs Soft Controls

Creating the control environment

Monitoring the control framework

+ Risk Assessment and Considerations

Establishing strategic objectives

Defining, Measuring, Evaluating Risk

Risk-Management strategies

+ Establishing Internal Accounting Controls

Internal accounting control categories

Strategies for preventing fraud in your cycles

Financial audits

+ Managing Control Activities to Minimize Risks

Reviewing operational auditing

Prevention vs detection control types

How to create an operational audit program

The steps to creating an individual audit program

+ Monitoring and Reporting on Internal Controls

Creating and implementing a testing system

Manual vs technology-based monitoring

Elements of effective internal controls reports

How to create reports

FOR WHOM: All Internal Auditors in both the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.