- Audit and control - Audit of consolidated financial statements under IFRS and French GAAP. Quality audit. Internal control audit.
- Project managers -
- Internal control - Know and implement internal control policies and the associated control system. Know how to carry out an internal control operation. Fundamental processes and concepts of internal control (COSO, segregation of duties, delegation, etc.).
- Accounting standards and methods files - Know how to prepare accounting standards and methods files, carry out prospective studies and perform impact analyses.
- Financial risks: counterparty, liquidity, interest rate, foreign exchange, equity - Analysis, valuation, risk mapping and hedging strategy: - Counterparty risk: financial analysis and mastering rating practices (internal, external) - Liquidity risk: ALM and group cash flow forecasts - Interest-rate risk: TF and TV loans, bond issues - Foreign exchange risk: exports, imports, hedging - Equity risk: dividends, share acquisitions and disposals, dealing room) - Project & (dis)investment risk Master the identification and valuation of financial and non-financial risks
Acquire the fundamentals
Target audience
- Project managers
- Chartered accountants, statutory auditors
- Finance, consolidation and accounting managers
1 day
Internal control training
Prerequisites
No prior knowledge is required.
Objectives
◗ Identify legal requirements for internal controls
◗ Applying the most common reference frameworks (COSO, AMF reference frameworks, link with SOx)
◗ Implement a process to improve internal control with a view to enhancing operational efficiency
Training program
◗ Understanding the challenges and foundations of internal control
- Definition, objectives and key dimensions: compliance, safety, performance
- Differences with internal audit and links with risk management
- Industry standards: COSO, CNCC, AMF
- Legislative environment: Sox, LSF, Sapin 2, duty of care, etc.
✔ UNDERSTANDING | Illustration: diagram of COSO components and their interactions
and their interactions
✔ EXPERIENCE | Exchange: to what extent does internal control guarantee
the absence of anomalies in operational processes?
✔ APPLY | Case study: identifying the areas concerned by internal control
◗ Mastering the 5 components of the COSO framework
- Control environment, risk assessment, control activities,
information & communication, monitoring & evaluation
- Links with governance and operational performance
✔ UNDERSTANDING | Case study: applying COSO components to a business process
✔ APPLY | Case study: self-assessment of an internal control process in its
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 reduction levers
✔ APPLY | Case study: assessing the criticality of IT, HR and purchasing risks in pairs
✔ EXPERIMENT | Case study: building an operational risk matrix
✔ EXPERIMENTALIZE | Exchange: 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
- Typology of controls: preventive, detective, dissuasive
✔ APPLY | Case study: building a flowchart of the purchasing or expense claim process
✔ EXPERIMENTALIZE | Workshop: building a matrix of key controls on a sub-process
✔ ASSESS | Quiz: which controls should be formalized first?
Why choose this course?
More than a legal requirement, internal control is an opportunity to secure the company's financial and non-financial performance.
This hands-on training course provides an understanding of the principles of internal control and how to apply them to an operational process.
Teaching and assessment methods
Before: self-assessment quiz
During the session: presentations based on practical cases drawn from real-life situations. Pragmatic approach, interactive quizzes and discussions during the session to ensure knowledge acquisition.
Afterwards: documentation.
The trainer is available to answer any questions relating to the training.
See our full training catalog.
Price
1,295€ EXCL. TAX
Testimonials
Internal control training
Internal control training
Jonathan C.
Company
Training