Dotrid International Training Institute

4 - 8 February, 2013, Cape Town, South Africa 15 19 April, 2013, Cape Town, South Africa nd th 2 - 7 September, 2013, Cape Town, South Africa

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Internal Control and Risk Management Course

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INTRODUCTION
This course is designed for professionals who have responsibilities or seek to acquire skills in internal control and risk management in their organizations. Undoubtedly, internal control is fundamental to the successful operation and day-to-day running of a business and it assists the company in achieving its business objectives. It encompasses all controls incorporated into the strategic, governance and management processes, covering the companys entire range of activities and operations, and not just those directly related to financial operations and reporting. Its scope is not confined to those aspects of a business that could broadly be defined as compliance matters, but extends also to the performance aspects of a business. Risk management encompasses methods and processes used by organisations to manage risks and seize opportunities in relation to achievement of their business objectives. It typically involves identifying particular events or circumstances relevant to the organisations objectives, assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. By identifying and addressing risks and opportunities, business enterprises protect and create value for their stakeholders. One of the most common approaches of managing risk is through the establishment and implementation of effective internal controls. It plays an important role in preventing and detecting irregularities such as errors and/or fraud and protecting the organisations resources, both tangible (e.g., machinery and property) and intangible (e.g., reputation or intellectual property such as trademarks).

Course Objectives
The challenge for management in every organisation is to determine how much uncertainty to accept as it strives towards achieving its objectives and delivering value to its stakeholders. The solution to this challenge is the establishment of an organisation risk management system and processes that effectively identify access and manage risk within acceptable levels thus the need to run this course in organisations. The Risk Management Framework represents the pre-eminent source of reference and guidance on risk management practices in organisations. The framework aims to support the objectives of institutions through provision of information and guidance to enable the implementation and maintenance of effective systems in identifying and mitigating the risks that threaten the attainment of service delivery and other objectives, thus optimise opportunities that enhance institutional performance

Internal control is fundamental to the successful operation and dayto-day running of a business and it assists the company in achieving its business objectives.

COURSE OUTCOMES
At the end of this course delegates should be able to demonstrate: An Understanding the concept of internal control An understanding of risk management and the business expectations of what the risk management function has to deliver. An understanding of the requirements needed to design and implement an effective risk management system Skills in the application of Risk Management Framework in the execution of duties at various levels in the organization Developing Risk Management Policies, Procedures and Methodologies Align risk appetite and strategy Enhance risk response decisions Reduce operational surprises and losses etc

COURSE OUTLINE
General Management Management Functions Developing Effective Leadership Skills Effective Communication and Presentation Skills Managing Time Resource Benchmarking for Effective Service Delivery Internal Control Modules The concept of internal control Legislation governing internal control Internal control environment Developing and implementing control mechanism The role of internal auditors The Need for Sound Risk Management Financial Sustainability Legal requirements Disaster Management Occupational Health and Safety Act Good governance Risk Management Implementation Plan and Consequences Of Ineffective Implementation Consequences of ineffective implementation Operational and strategic surprises; Breakdowns in internal controls Reactive responses vs proactive responses; Impact on its continuity of operations; Responsiveness and flexibility of the institution; Management of changing / new risks Barriers for the successful implementation of Risk Management Risk Management Report Description of Risk Risk Owner Background of Risk Likelihood Impact Inherent Risk Exposure Control Effectiveness Residual Risk Exposure Current Key Controls Actions to Improve Controls

Internal Control Modules Contd. Internal controls as a tool for risk management what are internal controls and their characteristics by objective and by activity. Roles and responsibility within an internal control framework. Maintaining a sound system of internal control one size fits all? Reviewing the effectiveness of internal controls is it measurable? Why measurement is crucial? Case studies on the system and effectiveness of internal controls. Why do internal controls go wrong? Illustrative real cases of Practical. Learn from experienced and active internal controls gone wrong. industry practitioners and what's being practiced by your peers. Applicable. Apply what you learn in your job and your career specially designed courses by industry active experts for industry practitioners Quality Control. Each expert instructor is interviewed and vetted through our senior management and our 5-point instructor criteria. Valuable. Earn more revenue or save your organization from monetary loss. You and your organization will quickly earn back your investment on the course fee and more Enjoyable. Speakers who have a passion for their topic

What we offer

COURSE OUTLINE (CONTD) Fundamentals of Risk Management

Background of risk management Concept is Risk and Risk Management The process of risk management The classification of risks Frequency and severity of impact The concept of risk appetite The risk strategies Risk management approaches (the 4 Ts)

WHO SHOULD ATTEND?

This course will be of immense benefits to: Financial Officers/Managers/Directors Asset Officers/Managers/, Accountants, Chief Financial Officers, Chief Executive Officers, Managing Directors, Risk managers, Logistic managers, Supply chain practitioners, Procurement officers, Anyone with a quest for knowledge on the subject and those who wish to acquire requisite skills for future roles in risk

Legislative Foundation for Risk Management

System of Risk Management Treasury Regulations (risk assessment, risk management strategy, fraud prevention plan, communication to all officials; incorporation into the language and culture of the institution) Internal Audit Risk Management of the International standards for the Professional Practice of Internal Auditing Audit Committee

management and internal control

Risk Identification
What is risk assessment? How are risks analyzed / categorized? How are risks prioritized? What is risk control? What is risk mitigation? What is risk planning? What is risk monitoring? What is risk communication

Management of a Risk Register

A description of the risk, its causes and its impacts; An outline of the existing controls An assessment of the consequences of the risk should it occur and the likelihood of the consequence occurring, given the controls; A risk rating; Overall priority for the risk

Method of Training
The method of training for each module is highly participatory. And training sessions will include: Exciting practical group exercises, Role-plays Case studies Live instructions Video presentations Explicit practical examples Course Fees PowerPoint presentations Course fee is $1000 per delegate and covers tuition and course materials.

Course Duration : 4 days

We provide modern state-of-the-art-training facilities

WHAT YOU GET:

Certificate of Participation Expert Facilitation Course Materials Refreshment/Lunch Field trips etc

Venue: Cape Town, Specialized Certificated of attendance South Africa

Lunch/ refreshment

South Africa Office: Milpark Building, Unit 34, Opposite Point Business Park, Milpark, Cape Town. 7441, South Africa Tel: +27832412212, +26876515877, +27735892401 , Tel/Fax: +27215520431 Swaziland Office: Embassy House, Allister Miller Street, P O Box 4755, M b a b a n e , Kingdom of Swaziland. Email: programmes@dotrid.org dotridtraining@gmail.com UK Office: 4 Dalespark Drive, Swinton, Manchester, M27 0FP, UK, Web: www.dotrid.org uktraining@dotrid.org To apply online go to: www.dotrid.org/apply.html