Internal control training

Prerequisites

No prior knowledge is required

Objectives

◗ Identify the legal requirements regarding internal controls.

◗ Apply the most common standards (COSO, AMF frameworks, link to SOX).

◗ Implement a process to improve internal controls with a view to increasing operational efficiency.

Training program

◗ Understanding the challenges and foundations of internal control

– Definition, objectives, and key dimensions: compliance, security, performance
– Differences from internal audit and relationship with risk management
– Industry standards: COSO, CNCC, AMF
– Legislative environment: SOX, LSF, Sapin 2, duty of care…
✔ UNDERSTAND | Illustration: Diagram of COSO components and their interactions
✔ EXPERIMENT | Discussion: To what extent does internal control ensure the absence of irregularities in operational processes?
✔ APPLY | Case study: Identify the areas covered by internal control

◗ Mastering the 5 components of the COSO framework

– Control environment, risk assessment, control activities, information & communication, monitoring & evaluation
– Links to governance and operational performance
✔ UNDERSTAND | Case study: Applying the COSO components to a business process
✔ APPLY | Practical exercise: Self-assessment of an internal control process within its scope

◗ Deploying a risk mapping and analysis approach

– Risk typology, assessment (probability/impact)
– Tools: criticality matrix, action plans, acceptability thresholds
– Example of the fraud triangle and mitigation strategies
✔ APPLY | Practical exercise: Assess the criticality of IT, HR, and procurement risks in pairs
✔ EXPERIMENT | Scenario-based exercise: Build an operational risk matrix
✔ EXPERIMENT | Discussion: Should a risk always be avoided?

◗ Document processes and formalize controls

– Narratives, flowcharts, identification of risks and associated controls
– Best practices: segregation of duties, delegation, validations
– Types of controls: preventive, detective, deterrent
✔ APPLY | Practical exercise: Create a flowchart of the purchasing or expense report process
✔ EXPERIMENT | Workshop: Develop a key controls matrix for a subprocess
✔ EVALUATE | Quiz: Which controls should be formalized first?

◗ Oversee the effectiveness and performance of internal controls

– Self-assessment, oversight, reporting, letters of commitment
– Integration with strategy and value creation
– Governance, role of the audit committee, consolidated reporting
✔ UNDERSTAND | Illustration: the relationship between internal control, audit, reporting, and governance
✔ APPLY | Case study: designing an internal control monitoring dashboard for the audit committee
✔ EXPERIMENT | Discussion: Should we prioritize the comprehensiveness or the relevance of controls?

Why choose this course?

Beyond legal requirements, internal control is an opportunity to ensure the company’s performance in both financial and non-financial areas. This practical training course provides an understanding of the principles of internal control and teaches participants how to apply them to operational processes.

Teaching and assessment methods

Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.

Teaching Methods: A variety of teaching methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.

Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.

During the training: a mix of theoretical concepts and examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.

Training monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.

Price

1 295 € EXCL. TAX

Testimonials

Internal control training

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Internal control training