Driving Organizational Agility: Leading Change for a Resilient Future
28/11/2024Workload Management for the Modern Workplace
28/11/2024Advanced Internal Controls and Compliance Management: Navigating Modern Challenges
£4,000.00
Overview:
This training program provides a thorough exploration of internal controls, emphasizing their importance in maintaining regulatory compliance, preventing fraud, and optimizing business operations. It focuses on best practices for implementing internal controls across various business cycles, integrating technology, and addressing the human elements in control systems. Participants will gain essential insights into compliance management, digital security, and the latest global standards for effective risk management.
Program Objectives:
By the end of this course, participants will be able to:
- Understand the purpose of internal controls in meeting regulatory requirements and preventing fraud.
- Develop and apply internal controls across various business cycles to optimize efficiency and mitigate risks.
- Implement information system controls to safeguard data and secure IT infrastructure.
- Establish financial controls that ensure accuracy, compliance, and effective financial management.
- Integrate global compliance frameworks into internal control systems, especially in multinational and technology-driven organizations.
- Lead teams in fostering a culture of compliance and continuous improvement across their organization.
Target Audience:
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- Procurement Managers and Contract Administrators
- Risk and Compliance Professionals, Auditors, and Finance Managers
- IT Security Managers and Systems Auditors
- Project Managers and Business Analysts in regulated industries
- Professionals working in organizations with international operations or complex compliance demands
Program Outline:
Day 1: Purpose and Compliance of Internal Controls
- Key compliance regulations and frameworks (e.g., GDPR, SOX, ISO 27001).
- Fraud prevention through internal controls and enhancing customer satisfaction.
- The role of internal controls in meeting regulatory standards.
- Developing a culture of compliance within an organization.
Day 2: Implementing Controls Across Business Cycles
- Best practices for purchase and payment cycle controls.
- Inventory and costing cycle controls for financial accuracy.
- Managing HR and payroll cycles through effective controls.
- Implementing controls in the sales and collection cycle.
- Lifecycle management of fixed assets and their controls.
- Integrating technology with human processes to streamline controls.
Day 3: Information System Controls
- Safeguarding sensitive data and ensuring IT security compliance.
- Access control strategies for communication systems and digital platforms.
- Utilizing AI and automated tools for security reporting and monitoring.
- Integrating cybersecurity and risk management practices into business processes.
- Continuous assessment of IT system vulnerabilities and implementing corrective measures.
Day 4: Financial Controls
- Safeguarding financial assets through stringent controls.
- Ensuring compliance and accuracy in financial reporting.
- Budgeting, financial planning, and management reporting controls.
- Establishing financial policies and procedures to enforce accuracy.
- Risk-based financial management techniques to support organizational goal.
Day 5: Administrative and Legal Compliance Controls
- Ensuring safety and security through controlled access to physical and digital assets.
- Legal considerations in administrative controls, including compliance reporting.
- External reporting obligations and the role of internal controls in satisfying regulatory requirements.
- Techniques for monitoring and assessing the sustainability of control systems.