Internal Controls Policies and Procedures: Best Practices

OBJECTIVE:
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.
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: 6th – 9th May, 2025
2ND BATCH: 18th – 21th Nov, 2025