Internal Control, Compliance and Risk Management

Internal controls are an interesting topic in the corporate environment. They are part of the Governance, Risk and Compliance (GRC) system which relies on these controls to ensure that risks are under check. This course tackles controls at board and senior management level and looks into the business and reporting cycles.  The course discusses information systems control, administrative and safety controls, financial reporting controls, physical controls and external reporting controls.

At the end of this training, participants will have a grip understanding of the best practices in internal control processes, international standards, auditing and compliance to manage risk in the organization.

Learning Objectives

At the end of this training, participants will be able to:

• Gain a positive, firm and broad-based understanding of internal control and control models.
• Segment the roles of internal control and audit in fraud prevention and detection.
• Analyze and evaluate existing or planned control systems and enterprise-wide risk management.
• Understand risk management and its application within an organisation
• Identify, evaluate and control risk in strategy and operations of your organisation
• Design and implement an effective risk management process
• Ensure that your organisation can meet the rising standards of corporate governance
• Communicate the characteristics of effective risk management to your teams
• Design cost-effective control systems to minimize risks for business processes.
• Understand control deficiencies and material weaknesses.
• Identify business objectives, risks and controls needed to mitigate risk.
• Learn and apply the most useful internal control, compliance and risk categories, tools and best practices.
• Obtain a basics of who, why and how of fraud as well as the role of business controls in fraud management.