Internal Controls Design & Effectiveness

Organizations can have extensive policies, approvals, reviews, and system controls while still remaining exposed to significant risks. The number of controls is not what determines the strength of a control environment; what matters is whether each control addresses a meaningful risk, has clear ownership, operates consistently, and produces sufficient evidence that its intended purpose is being achieved.
 

Boost Consulting & Training offers this course to develop practical capability in designing, evaluating, and improving internal controls. Participants learn to connect controls with business objectives and risks, distinguish key controls from unnecessary control activity, assess design and operating effectiveness, identify gaps and weaknesses, test control performance, and redesign controls where existing arrangements provide insufficient or inefficient protection.
 

The main concept of this course is to create internal controls that are purposeful, proportionate, testable, and capable of providing reliable protection against the risks they are designed to address.

• Connect business objectives, risks, processes, and internal controls.
• Determine where controls are required and what each control should achieve.
• Design controls that appropriately address identified risks.
• Distinguish key controls from supporting or redundant control activities.
• Assess control design effectiveness and operating effectiveness separately.
• Develop appropriate methods for testing control performance.
• Diagnose control gaps, failures, duplication, and inefficient control activity.
• Redesign and improve controls as business processes and risks change.