Internal Control And Fraud Awareness

In an increasingly regulated corporate world many organisations need assistance making necessary changes to their business practices. Internal controls are no longer a regime for finance staff but all management who are required to take ownership of and sign off on controls. 

The challenge however  is to understand how you can create a strong control environment in your organisation and how you can practically implement an Internal Control framework.

This course is your first building block in a strong structure called internal control that allows you to achieve your business, financial reporting and compliance objectives. Course material is based on a strong methodology grounded in regulations associated with Corporate Governance and the COSO framework.

By the end of the workshop participants will:

• Be convinced of the importance of good control both for business reasons and regulatory compliance.
• Be aware of the regulatory environment which requires that businesses demonstrate strong controls.
• Understand the fundamentals of control including key types of control, IT controls and reconciliation controls.
• Be conscious of control in your everyday work, becoming “ambassadors” for good control, including execution, monitoring and assessing effectiveness of existing controls in your own organisations.
• Have considered fraud and how to reduce the risk of fraud in their organisations by implementing and maintaining a strong and effective control environment.

Course Objectives:

To convince you of the importance of good controls both for business reasons and for regulatory compliance with a practical focus to enable you to take good practice to your workplace.

Course Programme:

• Day 1 
• The Business Case for Control
• Role of the Audit Committee
• Control Fundamentals
• Control Issues - Case Study 1
• Reconciliations
• IT Controls
• Control Issues - Case Study 2
• Day 2 
• Recap Quiz
• Control Effectiveness
• Control Issues - Case Study 3
• Monitoring and Remediation
• Fraud - Singapore Case Study
• Case study - change of system, changing risks, change of controls
• Action Planning