Risk Reduction: Internal Controls, Policies and Procedures

This four- day interactive program will provide participants with a detailed understanding of how implementing effective internal controls can reduce organizational risk.   Examining the criteria for good policies and procedures. The workshop offers participants the opportunity to demonstrate practical application of the information learned and identify appropriate solutions for their organization.

CONTENT:

Objectives of the Internal Control System

· Control Objectives

· Sarbanes and oxley

· Operational risk

Techniques of Internal Control

· Management control

· Authorization

· Confirmation

· Reconciliation

· Compliance

· Policy and procedural controls

· Segregation of duties

Limitations of Internal Control

· Examples of weak internal controls

· Consequences of weak Internal Controls

Evaluating Current Control and Designing New Control

· Monitoring the effectiveness of controls

· Controls exist

· Well designed control is working

Policies and Procedures

· Criteria for good policy

· Criteria for good procedures

Mitigating the Risks

·       Functions in the organization

·       Consequences of inadequate internal controls

Responsibility of Internal Controls

·       Who bears the responsibility

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.