Internal control and governance training program

The  Internal Control and governance training provides participants knowledge from both technical and soft skills perspective. This course also highlights the new trends in the internal audit landscape, emerging technologies, and how they are affecting the role of internal audit.

The course also addresses the key attributes that internal audit practitioners need to apply, and elaborate on the skills required to ensure that they meet their stakeholders’ requirements suitably.

What are the major takeaways of this “ Internal Control and governance” course?

1. Identify opportunities to play a more strategic role

2. Practice the skills required to effectively manage the performance of the function

3. Review key internal audit practices that add value to the organization

4. Apply leadership styles in the evolving world of the Audit profession

5. Learn the recent trends in internal audit

This STrI training course will provide the participants with an insight into the latest internal controls, governance  and risk management trends and uncover the practical aspects of implementing a sound and effective internal controls system.

Course Objectives

Upon completing this Master class in Internal Control course successfully, participants will be able to:

·      Appreciate the importance and limitations of internal controls

·      Learn the definition of internal controls

·      Learn the control activities used to manage operational and financial risks

·      Determine the significance of information, communication, and monitoring in internal controls

·      Establish the objectives of implementing internal controls

·      Identify the components of internal control

·      Identify the key risks of the revenue, receipts, procurement, payment, inventory, and fixed assets management processes

·      Determine the control objectives of the relevant sub-processes

·      Find the components of an effective control environment

·      Establish the design and operating effectiveness of existing internal control practices

·      Discover how to develop your internal controls to evaluate existing internal controls

·      Apply effective control activities for each business process

Training Methodology

SITL transformational centers believes in two training approaches applied in each course—theoretical and practical. The theoretical aspect of training is delivered in lectures by highly experienced professionals from the relevant domain, using detailed audio-video presentations. Trainee participation is encouraged through group or individual assignments, knowledge to action projects and other such activities.

Case studies are discussed in detail to help trainees relate the training content to practical scenarios. However, the major aspect of practical training involves sample projects assigned to trainees (Knowledge to Action) during the course of the training. Experiential learning is also focused upon.

This course follows a unique approach adopted by SITL, called the Do–Review–Learn–Apply Model.

Organizational Benefits

Companies who nominate their employees to participate in this Master class in Internal Control course can benefit in the following ways:

·      Evaluate your Internal Controls and develop checklists to assess and enhance the internal control practices currently implemented in your organization

·      Implement a clear, concise, and systematic way of setting up a system of internal controls

·      Devise a sound system of internal controls that is adaptive to identify, assess, manage, and mitigate risk

·      Increase your focus on the internal controls of your operations, compliance, and reporting functions to update them to their optimum

 Personal Benefits

Individuals who participate in this Master class in Internal Control course can gain from it in the following ways:

·      Apply internal controls in a good control environment for effectiveness

·      Demonstrate how internal controls can be applied within existing processes, to prevent and detect fraud and errors

·      Correlate internal controls with risks management to mitigate fraud risk, particularly for core business processes

·      Study and implement internal controls effectively within multiple functions across your organization

Who Should Attend?

         This  Internal Control and governance course would be suitable for:

·      Internal auditors

·      Audit leaders

·      Audit supervisors

·      Audit managers

·      Senior auditors

·      Chief audit executives

·      Risk managers

·      Finance professionals

·      Compliance professionals

·      Anyone who works in implementing or executing internal controls

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