This course is also offered in face-to-face courses, click on the course below.
Overview
Course Methodology
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.
Course Objectives
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
Target Audience
Professionals in the field of finance and accounting, accountants at all levels seeking to enhance practical finance and accounting knowledge, and certified financial and accounting personnel especially accounting managers and controllers.
Target Competencies
- Assessing risks and responses
- Controling risks assessed
- Conforming to governance requirements
- Complying with laws and regulations
- Implementing controls in business cycles
- Analyzing controls and suggesting improvements
Course Outline
- The corporate control environment
- Corporate Governance
- Governance, Risk, Compliance, Controls and Audit
- COSO Internal Controls Framework
- COSO ERM Framework
- Internal control objectives
- COSO 17 principles for internal controls
- Control Environment
- Risk Assessment
- Control Activities
- Information and Communication
- Monitoring Activities
- COSO on Control Monitoring advantages
- Definition of Control
- Controls at BOD Level
- 4 control objectives on a transaction level
- Reason Model for Error Trajectory
- Nature of Control
- Control Deficiencies
- Implementing controls in business cycles
- Characteristics of effective controls
- The control process
- Reporting in Business Cycles
- Approvals and Authorizations in Business Cycles
- Controls in purchase and payment cycle
- Controls in inventory and costing cycle
- Controls in HR and payroll cycle
- Controls in sales and collection cycle
- Controls in fixed assets life cycle
- Admin controls for IT and facility
- Safeguarding data
- Access to communication systems
- Security reports
- Controlling access to building
- Controls on maintenance and repairs
- Safety and security controls
- Legal implications on some safety measures
- Required reporting in administration
- Financial controls
- Controlling access to financial assets
- Controls on financial reporting
- Controls through budgets
- Controls through management reporting
- Implementing financial controls through policies and procedures
- External reporting
- Centralization or Decentralization of Reporting
- Financial reporting requirements
- Reporting to labor related authorities
Schedule & Fees
Face-to-Face Courses
This course is also offered in face-to-face courses, click on the course below.
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