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Internal Control: Fundamentals of Theory & Practice

$
1800.00
Register
2 days | 16 acad. hours

Training objectives
Training program Pre-reading
Training program Day 1
Training program Day 2

Training objectives

  • Learn how to build effective internal control system contributing to the success of the company in turbulent business environment
  • Determine the roles and responsibilities of different parties in relation to the internal control system
  • Understand how to set up all components of the internal control framework
  • Determine appropriate criteria for the assessment of internal control system effectiveness
  • Evaluate the increasingly important role of IT controls in changing internal and external business environment
  • Get familiar with fundamental principles of COBIT 2019 methodology and learn how to integrate IT controls depending on the company processes’ maturity levels

Training program Pre-reading

  • The role of internal controls in increasing the company’s resilience
  • The Three Lines of Defense model: defining responsibilities and roles of the board, management, and employees
  • Business processes management as a basis for building an internal control system
  • Fundamentals of corporate governance

Training program Day 1

  • Five components of internal control set by COSO framework: in-depth analysis and practical application
Practice question: Identification of internal control deficiencies. Segregation of duties procedure analysis.
  • Identification of control procedures for the following business processes: procurement, marketing, sales, and human resources management
Practice question: Development of control procedures for business processes

Training program Day 2

  • Internal control and information technologies: increasing business effectiveness
  • The link between business objectives and IT controls
  • General and application controls
Processes’ maturity assessment and building IT controls using COBIT 2019 methodology
Practice question:
  • Evaluation of general and application controls’ effectiveness and the development of relevant recommendations
  • Assessment of internal controls’ effectiveness
  • Concluding remarks