Introduction:
The Internal Controls Best Practices course is designed to provide SACCO professionals with comprehensive knowledge and skills in establishing and maintaining effective internal control systems. Over 5 days, participants will explore various best practices and methodologies to enhance internal controls, mitigate risks, and ensure compliance within their organizations.
Duration:
5 Days
Target Audience:
- Internal Auditors
- Compliance Officers
- Risk Managers
- Finance Managers
- Board Members
- SACCO Executives
Course Outline
Course Objectives:
- Understand the importance of internal controls in SACCO operations.
- Learn best practices for designing and implementing effective internal control systems.
- Develop skills in assessing and improving existing internal control frameworks.
- Enhance knowledge of regulatory requirements related to internal controls.
- Strengthen organizational governance and risk management through robust internal controls.
Course Modules
Course Outline:
Module 1: Introduction to Internal Controls
- Definition and importance of internal controls in SACCOs
- Key principles and components of effective internal control systems
- Overview of regulatory requirements related to internal controls
- Case studies: Examples of successful internal control implementations
- Group discussion: Challenges in implementing internal controls in SACCOs
Module 2: Designing Effective Internal Control Systems
- Steps to design and develop an internal control framework
- Role of risk assessment in designing internal controls
- Control activities and segregation of duties
- Case studies: Designing tailored internal control systems for SACCOs
- Workshop: Practical exercises in designing internal control frameworks
Module 3: Implementing Internal Controls
- Strategies for implementing internal control systems
- Communication and training for effective implementation
- Monitoring and evaluation of internal control effectiveness
- Case studies: Successful implementation of internal controls in SACCOs
- Role-playing: Simulations of internal control implementation challenges
Module 4: Assessing and Improving Internal Controls
- Techniques for assessing the effectiveness of internal controls
- Continuous improvement and adjustment of internal control frameworks
- Internal audit and compliance checks for internal controls
- Case studies: Monitoring and evaluating internal control systems
- Group exercise: Developing a plan for internal control improvement
Module 5: Compliance and Regulatory Considerations
- Overview of regulatory requirements for internal controls in SACCOs
- Compliance standards and reporting obligations
- Internal audit's role in ensuring compliance with internal controls
- Case studies: Compliance challenges and solutions in internal controls
- Panel discussion: Regulatory updates and best practices in internal controls
Related Courses
Course Administration Details
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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