30,000 AMD
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  • Training 5 or more people?
  • Internal Control for Financial Sector

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    The course provides basic skills and practical examples on designing, implementing, and conducting financial internal control, and on assessing the effectiveness of a system of internal control in financial organizations. Effective internal controls are the foundation of safe and sound banking. A properly designed and consistently enforced system of operational and financial internal control helps a bank’s board of directors and management safeguard the bank’s resources, produce reliable financial reports, and comply with laws and regulations

    Benefits to your organization

    By taking this course practitioners will be able to understand what constitutes a system of internal control and insight into when internal control is being applied effectively. The course will provide direction for all levels of management in designing, implementing, and conducting financial internal control and in assessing its effectiveness based on Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework. Understanding how to implement the control procedures in different business processes will help the participants to be informed and feel motivated and take responsibility for improving the outcomes.

    Target audience

    The course is designed for both professionals engaged in business processes, as well as for all levels of management, who can use financial internal control knowledge to be able to eliminate ineffective, redundant, or inefficient controls and contribute in achieving the company’s long term objectives.

    Learning outcomes

    • Understand the need, objectives of internal controls and how sound internal controls can help to ensure that the goals and objectives of a banking organization will be met,
    • Learn about responsibilities in designing, implementing, and conducting financial internal control,
    • Understand 5 components of internal control and 17 principles of world’s gold standard for internal control COSO framework,
    • Analyze the relationship between the internal control objectives, structure and internal control components (COSO’s cube),
    • Learn how to design, implement financial internal control within business process based on practical example,
    • Learn how to evaluate internal control effectiveness and efficiency and how to document internal control deficiencies based on a case study.

    Learning approach

    • Presentations and lectures
    • Practical real life examples
    • Case studies
    • Forum discussions
    • Quizzes

    Course Curriculum

    • Introduction
    • Module 1: Internal control
    • Module 2: COSO’s framework for effective and efficient system of internal control
    • Module 3: Flowcharts and business mapping
    • Final Test & Case Study
    Prerequisites: Background in finance