Internal Controls Policies and Procedures

This four – day interactive workshop will provide participants with a detailed understanding of how implementing effective internal controls can reduce organizational risk, weak internal control lead to errors in information and decision – making.  It will also examine the criteria for good policy and procedures, activities to demonstrate the practical application of the information learned and identify appropriate solutions for their organization.

CONTENT:

Overview of Internal Controls

· The purpose and Benefits

· The weak Internal Controls

· The Limitation of Internal Control

Risk Management

· External and internal risk

· Corporate governance

· Safeguarding resources

· Managing change

Developing Internal Control Policies and Procedures

· The main tools available

· The processes and procedures

· Preparing clear policies

· Apply internal control principles   

Elements of internal control

· Control environment

· Risk assessment

· Control activities

· Information and communication

· Monitoring

Components of the Control Activity

· Personnel

· Authorization procedures

· Segregation of duties

· Physical restrictions

· Documentation and record retention

· Monitoring operations

Internal Control Limitation

· Staff size

· Human error and misunderstandings

· Cost of implementing a specific control

FOR WHOM:

All Internal Auditors and Risk Managers in 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.