Course Details

This course is appropriate for a wide range of professionals but not limited to:

• Accountants, auditors, and finance professionals seeking to enhance their technical and analytical skills.
• Internal control officers and compliance specialists.
• Department heads responsible for financial reporting and governance.
• Non-financial managers who wish to understand control and auditing fundamentals.
• Business owners and executives looking to strengthen internal financial accountability.

• Expert-led sessions with dynamic visual aids
• Comprehensive course manual to support practical application and reinforcement
• Interactive discussions addressing participants’ real-world projects and challenges
• Insightful case studies and proven best practices to enhance learning

By the end of this course, participants should be able to:

• Apply fundamental accounting concepts and prepare accurate financial records.
• Establish and evaluate effective internal control systems.
• Understand the internal audit process and its role in organizational governance.
• Identify, assess, and mitigate risks through systematic control measures.
• Conduct and report internal audits in line with professional standards.

DAY 1

Foundations of Accounting and Control

• Welcome and introduction
• Pre-test
• Overview of Accounting and Its Role in Financial Management
• The Accounting Cycle: Recording, Posting, and Reporting Transactions
• Chart of Accounts, Journal Entries, and Trial Balance Preparation
• Introduction to Internal Controls and the Control Environment
• Understanding the COSO Framework (Control, Risk, and Compliance)
• Exercise

DAY 2

Financial Statements and Internal Control Systems

• Components and Structure of Financial Statements
• Balance Sheet, Income Statement, and Cash Flow Statement Review
• Internal Controls over Financial Reporting (ICFR)Segregation of Duties and Authorization Controls
• Documentation, Record-Keeping, and Audit Trail Management
• Detecting and Preventing Errors and Irregularities
• Case Study

DAY 3

Risk Assessment and Internal Audit Planning

• Understanding Organizational Risks: Operational, Financial, and Compliance
• The Role of Internal Audit in Risk Management
• Audit Planning: Objectives, Scope, and Resources
• Identifying Key Controls and Testing Their Effectiveness
• Sampling Techniques and Evidence Gathering
• Introduction to Internal Audit Standards (IIA Framework)
• Workshop

DAY 4

Conducting the Internal Audit

• The Audit Process: Planning, Fieldwork, and Reporting
• Internal Audit Techniques: Observation, Inquiry, and Verification
• Audit Documentation and Working Papers
• Communicating Audit Findings: Objectivity and Evidence-Based Reporting
• Root Cause Analysis and Corrective Action Recommendations
• Ethics and Independence in Auditing
• Group Activity

DAY 5

Audit Reporting, Follow-Up, and Continuous Improvement

• Preparing and Presenting Internal Audit Reports
• Communicating Audit Results to Management and the Board
• Follow-Up Procedures and Monitoring Corrective Actions
• Integrating Internal Audit with Corporate Governance and Risk Management
• Leveraging Technology for Audit and Control (ERP, Analytics, Automation)
• Final Project
• Post-test
• Certificate ceremony