The Imperial Corporate Training Institute’s Internal Controls and Audit Evaluation Training Course provides participants with an in-depth and practical analysis of internal control systems and their evaluation within the current context of modern organisations. This financial audit training course covers all aspects of the design, implementation, assessment, and enhancement of internal controls in order to support effective corporate governance, risk management, and compliance. Participants will gain a comprehensive understanding of control frameworks, audit methodology, and evaluation techniques that are consistent with International Auditing Standards and Financial Reporting Standards.
Furthermore, the course places considerable emphasis on the auditor’s responsibilities to evaluate the adequacy and effectiveness of internal controls within the following areas – financial, operational, and compliance. Participants will be provided with an in-depth examination of each module and a systematic approach to assessment, including identifying weaknesses in controls, evaluating control risk, testing control effectiveness, and producing audit reports in a clear and professional manner. By the end of the course, participants will be able to confidently assess the internal controls of an organisation and make informed audit decisions.
Objectives
By completing this Internal Controls and Audit Evaluation Training Course, participants will be able to:
- Recognize the function, structure, and significance of internal control systems.
- Use recognized internal control frameworks during your planning and assessment of audits.
- Evaluate control environments and governance structures effectively.
- Identify risks associated with inadequate or poorly functioning internal controls, and establish the nature of these risks by assessing the effectiveness of those controls.
- Test internal controls, properly create and maintain an audit record of your findings.
- Understand the difference between preventive and detective controls, and assess their respective impacts.
- Evaluate the financial and operational controls employed by various organizations.
- Identify and analyze weaknesses in an organization’s internal control systems and make judgments about their severity.
- Develop practical skills for reporting your findings regarding internal control deficiencies.
- Enhance professional judgment in evaluating audits and making decisions based on the findings of an audit.
Target Audience
This financial audit training course is suitable for a wide range of professionals involved in auditing, finance, and risk management, including:
- Internal auditors seeking to enhance control evaluation skills
- External auditors involved in financial audit engagements
- Finance managers and financial controllers
- Risk management and compliance professionals
- Accounting professionals responsible for internal control systems
- Governance, risk, and control (GRC) specialists
- Senior executives overseeing audit and control functions
- Professionals preparing for advanced audit or finance roles
- Public sector and private sector audit practitioners
- Individuals aiming to build strong foundations in internal control assessment