Internal Control: Compliance, Operational and Financial are an interesting topic in the corporate environment. They are part of the Governance, Risk, and Compliance (GRC) system which relies on these controls to ensure that risks are under check. This course starts with an introduction to corporate governance and Enterprise Risk Management (ERM) and goes into the details of risk responses available to management. The Internal Control: Compliance, Operational and Financial course then tackles controls at board and senior management level and looks into the business and reporting cycles.
We also cover controls in the purchase and payment cycle, HR and payroll cycle, inventory and production cycle, long-term assets life cycle and collection cycle. In addition, the course discusses information systems control, administrative and safety controls, financial reporting controls, physical controls and external reporting controls. Participants are encouraged to share with management the proper measures and controls for the risks at hand.
Course Objectives:
-Implement controls in the accounting processes.
-Assign functions and roles within the accounting department to maximize controls while optimizing performance.
-Assist in designing corporate business cycles to achieve better controls.
-Achieve segregation of duties and internal controls in the accounting department and related functions.
-Increase reliability of processes and decrease the likelihood of fraud through the organization.
-Comply with external reporting requirements by governmental and semi-governmental authorities.
-Develop operational policies and procedures in accordance with internal control requirement.
-Design and maintain financial controls.
You might be interested in another Risk and Compliance programs as a next step.
YOU WILL LEARN HOW TO
The course is based on presentations and examples by the instructor. Participants will also be required to present the results of case studies and exercises.
By the end of the course, participants will be able to:
-Define the GRC system
-Devise controls that are appropriate for the risks at hand
-Implement segregation of duties and internal controls in the accounting department and business cycles
-Safeguard information technology systems and data centers
-Design and maintain financial controls
-Comply with financial and other external reporting requirements
IMPORTANT COURSE INFORMATION
Participants who fully attend this course and complete the test on the last day will receive a Strategic Axis Professional Certificate (SAPC). SAPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.
This course is credited by GARP – Global Association of Risk Professionals (GARP)
COURSE OUTLINE