Internal Control: Compliance, Operational and Financial Training Course
Accounting, Finance and Budgeting Training

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Internal Control: Compliance, Operational and Financial Training Course
Course Overview:
The Internal Control: Compliance, Operational, and Financial Training Course seeks to provide participants with the relevant knowledge and skills to develop, implement, and manage internal controls which help mitigate risks in accounting, operational processes, as well as financial reporting.
There is a certain level of knowledge that the participants will gain regarding the definition and deployment of Government Risk and Compliance (GRC) systems, segregation of duties, and protection of information systems.
Frauds prevention and control involves other parties that help accomplish the company objectives, hence reporting them as its members. Such reporting includes self reporting in the basic cycles of the business operations that include purchase, payroll, sales and fixed assets.
The focus of this course is on these cycles and the goodwill controls. It also focuses on the frms the controls seek to establish, the policies for the operations. Complying to the Internal reporting and external reporting requirements is also delved into regarding the financial controls.
This training will appeal to finance professionals and accounting managers, for it will add to the effectiveness of the internal controls and mitigate the chances of any fraudulent activities.
Course Objectives:
At the end of this Internal Control: Compliance, Operational and Financial Training Course, participants will be able to:
- Define the GRC system and 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
- Implement controls in the accounting processes.
- Assign functions and roles within the accounting department to maximize controls while optimizing performance.
- Assist in designing corporate business cycles to achieve better controls.
- Achieve segregation of duties and internal controls in the accounting department and related functions.
- Increase the reliability of processes and decrease the likelihood of fraud throughout the organization. And Comply with external reporting requirements by governmental and semi-governmental authorities.
- Develop operational policies and procedures in accordance with internal control requirements and design and maintain financial controls.
Who Should Attend?
This Internal Control: Compliance, Operational, and Financial Training Course is Ideal for:
- All Professionals in the field of finance and accounting,
- Accountants at all levels seeking to enhance practical finance and accounting knowledge,
- The certified financial and accounting personnel especially accounting managers and controllers.
Course Outlines:
Introduction to corporate Control environment
- Introduction to GRC: Government Risk and Compliance
- Introduction to EMR
- GRC system: Government Risk and Control
- Risk response and related internal controls
- Purpose of the internal control
- Compliance requirements through internal controls
Implementing Controls 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
- The Human Element Role in Controls
- Technology Role in Implementing Controls
- Segregation of Duties in Business Cycles
- Required Reporting in Business Cycles
- Approvals and Authorization in Business Cycles
- Risks to Corporations in Lack of Control in the Cycle
- Costs of Controls and Controlling Costs in Business Cycles
- Controlling Assets and Inventory Movements within the Company
- Preventing Fraud through Proper Controls
Information System Controls
- Safeguarding Data
- Access to Communication Systems
- Security Reports
- Financial Controls
- Controlling Access to Financial Assets
- Controls on Financial Reporting
- Controls through Budgets
- Controls through Management Reporting
- Reflecting Financial Controls in Policies and Procedures
Administrative Controls
- Controlling Access to Building
- Controls on Maintenance and Repairs
- Safety and Security Controls
- Legal Implications of Some Safety Measures
- Required Reporting in Administration
External Reporting
- Financial Reporting Requirements
- Reporting to Labor-Related Authorities
- Social Security Administration Reporting Requirements
see more: International Financial Reporting Standards (IFRS) Course