INTERNAL CONTROL OVER FINANCIAL REPORTING (ICOFR)
CONTEXT & OBJECTIVES
This program tends to explain how good controls are necessary to effectively and efficiently be carried out the company at all levels. Through its knowledge, it provides an overview of what is needed to supports the company ability to effectively control financial resources, meet legal and regulatory obligations, and minimize the risk of fraud, waste and abuse.
Aspects and topics to be covered in the training:
- What controls are, why they are important, and what happens when they fail;
- Identifying and evaluating risks
- Key elements of a control system
- Understand and apply a structured and systematic approach to ICOFR
- Identify the roles and responsibilities of the participants in the ICOFR process
- Coordinate ICOFR requirements with the business departments
Professionals from Finance, Financial Controlling, Financial Reporting, Internal Audit Departments.
- Enable participants to view Internal Control as an Integrated Process in the company
- Develop their skills in assessing and integrating controls in business processes
- Increase their effectiveness in implementation of internal controls