Mastering Internal Control Principles and Practices: Safeguarding Your Organization’s Assets

Course Objectives:
• Understand the fundamental principles and importance of internal controls in organizational governance and risk management.
• Learn to identify key risks and vulnerabilities within business processes and operations.
• Develop proficiency in designing and implementing effective internal control frameworks tailored to organizational needs and objectives.
• Acquire practical skills in assessing, monitoring, and evaluating the effectiveness of internal controls.
• Enhance awareness of regulatory requirements, compliance standards, and best practices related to internal control management.
• Gain insights into leveraging technology and automation tools to enhance internal control effectiveness and efficiency.

Course Content:
Introduction to Internal Control Principles
• Definition and objectives of internal control
• Importance of internal controls in organizational governance and risk management
• Overview of internal control frameworks (e.g., COSO, COBIT)
Risk Identification and Assessment
• Understanding business risks and vulnerabilities
• Techniques for identifying and prioritizing key risks
• Conducting risk assessments and developing risk registers
Designing Effective Internal Control Frameworks
• Principles of designing robust internal control systems
• Segregation of duties, authorization, and approval controls
• Implementing preventive, detective, and corrective controls
Implementation and Documentation
• Steps for implementing internal control procedures and processes
• Documenting control activities, policies, and procedures
• Communication and training on internal control standards and expectations
Monitoring and Evaluation
• Techniques for monitoring and evaluating the effectiveness of internal controls
• Conducting internal control reviews and assessments
• Remediation of control deficiencies and continuous improvement
Compliance and Regulatory Requirements
• Understanding regulatory requirements and compliance standards (e.g., Sarbanes-Oxley Act, GDPR)
• Aligning internal controls with regulatory expectations and industry best practices
• Role of internal audit and external auditors in assessing internal control effectiveness
Leveraging Technology for Internal Control Enhancement
• Role of technology and automation in enhancing internal control effectiveness
• Implementing internal control software solutions and tools
• Leveraging data analytics for monitoring and detecting control anomalies

FOR WHOM:
All Internal Auditors and Risk Managers in the Public and Private Sectors.
METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 20th – 23rd May, 2025
2ND BATCH: 2nd – 5th Dec, 2025