[Internal Control Series] Introduction to Internal Controls:
Importance of Internal Controls to Safeguard Your Company
Note: It is highly recommended to attend this 1-day “Importance of Internal Controls to Safeguard Your Company” before attending the other Implementation workshops under Internal Control Series
||18 Dec 2018 (Tue)
||9.00am - 5.30pm
||Training Room , SBF Center,
160, Robinson Road, #06-01, Singapore 068914
|Fee per pax
(inclusive of GST)
-Upon completion of the workshop, the participant will be granted an attendance certificate.
A strong internal control system is one of the best mitigation strategies for managing internal operational and financial risks. This 1-day instructor-led training programme equips you with relevant risks and controls knowledge to enable you to build a strong control environment for your organisation as well as recognise the different effective control activities which you can implement for your business processes.
What you will gain from this seminar:
· Understand the definition of internal controls
· Recognise the importance and limitations of internal controls
· Determine the objectives of implementing internal controls
· Identify the 5 components of internal control
· Discover the components of an effective control environment
· Determine the design and operating effectiveness of existing internal control practices
· Learn about the 10 most commonly implemented control activities to manage operational and financial risks
· Ascertain the significance of information & communication and monitoring controls
1. Introduction to Internal Controls
- Definition of internal controls
- Importance of internal controls
- Internal control myths and facts
- Why internal controls fail
- Parties responsible for internal controls
- The 5 components of internal control
- COSO Internal Control-Integrated Framework
2. Building a Strong Control Environment
- Key components of the control environment of a company
- Characteristics of effective key control environment components
- Anti-fraud considerations
3. Conducting Risk Assessment
- Definition of risk assessment
- Purpose of risk assessment
- Ways to assess risks
- Types of risks
- Managing risks
4. Implementing Control Activities
- 10 most commonly implemented control activities
- Classification of control activities
- Characteristics of an effective internal control
- Design effectiveness vs. operating effectiveness of controls
- Assessing design and operating effectiveness
- Data analytics and data visualisation
5. Managing Effective Information and Communication
- Types of information and communication
- Methods used to disseminate information
- Assessing information and communication
- Effective communication flow
6. Putting in Place an Effective Monitoring Process
- Definition of monitoring
- Benefits of monitoring
- Different monitoring mechanisms
- Characteristics of effective monitoring
7. Case studies, class discussions, exercises and quizzes
*Programme information is accurate at the time of print
This workshop is ideally designed for management and executive staff who play a part in implementing or executing internal controls. Including finance professionals, internal auditors, risk managers, internal controls and compliance professionals.
ABOUT THE TRAINER
The trainer specialising in coaching, consulting and training on business risk management and fraud awareness has also worked with the Big Four accounting firms, multinational corporations and local companies in Hong Kong and Singapore for over 10 years.
During the career with PricewaterhouseCoopers Hong Kong, the trainer has conducted various training programmes on corporate governance, internal controls and anti-fraud to the directors of companies listed in Hong Kong. The trainer has also been extensively involved in risk management, internal control, internal audit and Sarbanes-Oxley compliance projects in Asia Pacific.
- Please logon to https://login.sbf.org.sg/SBFPortal/Sign_In.aspx with your Username and Password to register.
- Please create an account for registration if you do not have an existing account with SBF
- Upon registration, please make payment using credit card via online payment platform. Auto e-acknowledgement and invoice will be sent to your registered email.
- No cancellation will be allowed upon registration, but attendance by a replacement delegate from your company is welcomed. Please notify SBF of the change at least 3 days’ notice prior to event to enable logistical arrangements for the replacement.
- Payments are required with registration and must be received prior the workshop to guarantee your place.
- Participants will only be admitted if payment/proof of payment has been received prior to the event or on event day.
- You will still be liable for the payment in the event of no-show on actual day of the event.
- Singapore Business Federation (SBF) reserves the right to cancel or make any adjustments to the event.
Other payment modes:
1) Electronic Payment
Internet banking services with UOB or DBS via Billing Organization.
2) VISA/MASTERCARD Terminal
Payment can be made via our VISA/MasterCard terminal in our office
3) Cheque Payment
Please cross your cheque payable to Singapore Business Federation and send it to: 160 Robinson Rd #06-01, SBF Center, Singapore 068914
Please indicate the Invoice number, Company and Participant name at the back of the cheque.
If you have registered less than 5 working days before the event date, please bring along the cheque on the day of workshop.
If you have further enquires or clarifications, please contact firstname.lastname@example.org (ATTN: Eady NG) | 6827 6867
Ref No.: SB180349
NOTE : To safeguard the well-being of all participants, we advise members who are feeling unwell to refrain from attending the session
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