Internal Control and Compliance Essentials

Strong controls protect assets, support reliable reporting and keep an organisation on the right side of the rules.

4 daysIntermediate7 modules

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Overview

About this course

Strong controls protect assets, support reliable reporting and keep an organisation on the right side of the rules. This four-day course shows you how to map processes, find where things can go wrong and design practical controls, including sound segregation of duties.

You will then test those controls, monitor compliance with legal and regulatory obligations and report deficiencies in a way that leads to action. Workshops use realistic processes such as purchasing, payroll and cash handling.

What you'll learn

Describe the components of an effective internal control system
Map business processes and identify key control points
Design preventive and detective controls, including segregation of duties
Test controls and document the results
Build a compliance monitoring plan linked to legal and regulatory obligations
Report control deficiencies and track remediation

Curriculum

7 modules

Why internal control matters
Objectives: operations, reporting and compliance
Recognised control frameworks
Roles of the board, management and staff

Tone at the top and ethical culture
Organisational structure and authority
Policies, procedures and delegation of authority
The three lines model

Documenting processes
Identifying where errors and fraud can occur
Risk and control matrices
Key versus secondary controls

Preventive and detective controls
Manual and automated controls
Segregation of duties and compensating controls
Authorisation, reconciliation and physical controls
IT general controls in brief

Design and operating effectiveness
Walkthroughs, inspection and reperformance
Sample sizes for control testing
Documenting test results

Mapping legal and regulatory obligations
Compliance policies and training
Monitoring and compliance testing
Whistleblowing and incident handling

Classifying control deficiencies
Writing clear findings and recommendations
Action plans and follow-up
Continuous improvement of the control system

Who it's for

Finance officers, internal auditors, compliance staff and process owners responsible for controls in their area.

Before you start

Basic understanding of accounting or business operations

Diplomas

Part of these Alalamia diplomas

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