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Internal Compliance Guidelines for Operational and Financial Processes

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Internal Compliance Guidelines for Operational

& Financial Processes


This training course relies on presentations and examples, and participants will also be required to present their findings for case studies and exercises.

Course Objectives:

By the end of the course, participants will be able to:

  • Apply controls in accounting operations.
  • Emphasize the importance of roles and functions in the accounting department to use controls and improve performance.
  • Design professional workflows for corporate operations to achieve better controls.
  • Implement task division and internal controls in the accounting department and related operations.
  • Describe how to minimize the likelihood of fraud in the organization by relying on process reliability.
  • Comply with requirements for preparing external reports for government and quasi-government authorities.
  • Formulate policies and operational procedures in accordance with internal control requirements.
  • Design and maintain financial controls.

Target Audience:

This training course targets accountants and finance professionals at all levels who seek to deepen their practical knowledge in the field of accounting and finance. It is especially beneficial for certified accountants and finance managers.

Program Content:

  • Corporate Regulatory Environment.
  • Corporate Governance.
  • Governance, Risk, Compliance, Internal Controls, and Auditing.
  • Framework for Internal Control issued by the Enterprise Sponsorship Committee.
  • Framework for Enterprise Resource Management issued by the Enterprise Sponsorship Committee.
  • Objectives of Internal Controls.
  • Principles of Internal Controls for the 17 Institutions issued by the Enterprise Sponsorship Committee.
  • Monitoring Environment.
  • Risk Assessment.
  • Internal Control Activities.
  • Information and Communication.
  • Monitoring Activities.
  • Enterprise Sponsorship Committee on the Benefits of Internal Control Monitoring.
  • Definition of Internal Controls.
  • Internal Controls at the Board Level.
  • The Four Objectives of Internal Controls at the Operational Level.
  • Cause and Error Path Model.
  • Nature of Internal Controls.
  • Internal Control Errors.
  • Applying Controls within Business Cycles.
  • Effective Control Characteristics.
  • Control Process.
  • Business Cycle Reporting Preparation.
  • Approvals and Permissions in Business Cycles.
  • Payment and Procurement Cycle Controls.
  • Inventory and Cost Cycle Controls.
  • Human Resources Cycle and Payroll System Controls.
  • Sales and Collection Cycle Controls.
  • Fixed Assets Lifecycle Controls.
  • Information Systems Controls.
  • Data Protection.
  • Use of Communication Systems.
  • Security Reports.
  • Building Access Monitoring.
  • Maintenance and Repair Operations Controls.
  • Security and Safety Controls.
  • Legal Implications on Safety Standards.
  • Required Management Reports.
  • Financial Controls.
  • Monitoring Access to Financial Assets.
  • Financial Reporting Preparation Controls.
  • Controls across Different Budgets.
  • Management Reporting Preparation Controls.
  • Applying Financial Controls through Procedures and Policies.
  • External Reporting Preparation.
  • Centralized and Decentralized Management of Reporting Operations.
  • Financial Reporting Requirements.
  • Preparation of Reports Directed to Labor Authorities.

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