Internal Control Training

The aims of the training is to:

  • Learn how to assess risks within on-going processes and setting up the
    risk responses (including design of the effective internal controls)
  • Learn how to implement internal control framework.
  • Obtain skills how to create process & control documentation.
  • Be able to assess the effectiveness of internal controls over Financial Reporting and potential control gaps.


  • Internal control frameworks
  • Control Framework based on COSO
  • Sarbanes Oxley Act (SOx)
  • Auditing standards (IIA, PCAOB)
  • Risk assessment, materiality & scoping
  • Documenting Internal Controls
  • Testing and reporting on Internal Controls
  • Comprehensive case studies


Internal control frameworks

  • Definition
  • History
  • Examples of frameworks

Control Framework based on COSO – main components in practice Sarbanes Oxley Act (SOx) – main provisions and impact for organizations Auditing standards (IIA, PCAOB) – main requirements for auditors

Risk assessment, materiality & scoping


Documenting Internal Controls

  • Process flows,
  • Risk control matrices,
  • Walkthroughs,
  • Documenting execution and assessment

Testing and reporting on Internal Controls

  • Types of controls
  • Testing techniques
  • Control effectiveness assessment
  • Reporting on controls effectiveness