Internal Control and Fraud Awareness

In an increasingly regulated corporate world many organizations need assistance making necessary changes to their business practices.  Internal controls are no longer a regime for finance staff but all management who are required to take ownership of and sign off on controls.  The challenge however is to understand how you can create a strong control environment in your organization and how you can practically implement an internal control framework. This course is your first building block in a strong structure called internal control that allows you to achieve your business, financial reporting and compliance objectives.

CONTENTS:

• Internal Control
• Internal Controls & Risk Management
• Role of the Board and Management in setting up Internal Controls
• Role of Internal Auditor 
• Identifying Internal Controls Lapse prone areas and Instituting Controls
• Reconciliations
• Understanding Fraud
• Fraud Reflags
• IT control (COSO – Internal Control-Integrated Framework)
• Creating an Environment in Dealing with Fraud  
• Fraud Awareness
• Importance of Transparency in the Organization
• Detecting & Preventing Fraud
• Action Planning
• Monitoring and Remediation

FOR WHOM:

Internal Auditors desirous to adopting modern internal Audit techniques in their workplace

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.