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Internal Control and Fraud Prevention

Internal Control and Fraud Prevention

Category: Tags: ,
5/5

1,399.00 + VAT

Effective internal controls are essential
for the success of any organization.


By implementing a robust internal control system,
organizations can promote orderly, economical, efficient,
and effective operations, safeguard resources,
and maintain reliable financial and management data.


This masterclass will show you how to design
and implement an effective internal control system
that drives value for your organization,
while minimizing the risk of fraud.

 

Internal Control and Fraud Prevention

August 22, 2024
2:00pm – 5:00pm

 

ONLINE MASTERCLASS VIA

Zoom Logo

 

Understanding Financial Statements

This incisive masterclass on Internal Control and Fraud Prevention provides a holistic framework for understanding internal controls and their relationship with risk, audit, and fraud prevention. By attending this masterclass, you will gain a deep understanding of the importance of internal controls in promoting efficient and effective operations, safeguarding resources, and maintaining reliable financial and management data. You will learn how to design and implement an effective internal control system that drives value for your organization, identifies potential fraud risks, and develops workable solutions to mitigate these risks.

 

  • Explain the nature of internal control and its relationship with risk, audit, and how they drive value for an organization
  • Discuss the framework, components, and measures of internal controls and how they can be implemented in real business operations
  • Differentiate various types of fraud
  • Explain how internal controls can prevent fraud
  • Assess internal control practices and devise workable solutions for identified internal control weaknesses
  • Identify and evaluate the impact of internal controls on organizational performance
  • Develop a comprehensive framework for designing and implementing an effective internal control system
  • Apply internal control principles to real-world scenarios
  • Analyze the role of internal controls in achieving organizational goals

 

Major Takeaways

  • Understand the importance of internal controls in promoting efficient and effective operations
  • Learn how to identify and mitigate potential fraud risks using the Fraud Triangle
  • Develop a comprehensive framework for designing and implementing an effective internal control system
  • Learn how to assess internal control practices and identify areas for improvement
  • Gain practical strategies for preventing fraud in company assets, liabilities, revenues, and expenditures
  • Understand the importance of continuous monitoring and evaluation of internal controls
  • Develop skills to communicate effectively with stakeholders about internal control processes and results
  • Identify ways to leverage technology to enhance internal controls
  • Learn how to address common challenges in implementing internal controls

 

Course Outline

Module 1: Introduction to Internal Control and Fraud Prevention

  • Overview of internal control and its importance in organizations
  • Understanding the risk-based approach to internal control
  • Review of the latest trends and challenges in internal control and fraud prevention

Module 2: Internal Control Fundamentals

  • Definition and importance of internal control
  • Types of internal controls (preventive, detective, corrective)
  • Key components of internal control systems

Module 3: Risk Management and Risk Assessment

  • Understanding the risk management process
  • Identifying and assessing risks
  • Prioritizing and mitigating risks

Module 4: Internal Controls for Financial Reporting

  • Overview of internal controls for financial reporting
  • Understanding the importance of financial reporting controls
  • Review of key financial reporting risks

Module 5: Audit and Assurance

  • Overview of audit and assurance services
  • Understanding the role of auditors in internal control
  • Review of audit procedures for internal controls

Module 6: Fraud Prevention and Detection

  • Understanding fraud risks and schemes
  • Prevention strategies for fraud
  • Detection techniques for fraud

Module 7: Business Process Optimization

  • Understanding the importance of process optimization in internal control
  • Review of key business processes (e.g. procurement, inventory management)
  • Best practices for process optimization

Module 8: Leadership and Governance

  • Understanding the role of leadership in internal control
  • Best practices for governance structures
  • Effective communication strategies for internal control

Module 9: Implementation and Monitoring

  • Implementation strategies for internal control systems
  • Monitoring and reviewing internal controls
  • Continuous improvement strategies for internal control systems

 

Featured Speaker - Understanding Financial Statements

Dr. Rufo R. Mendoza, CPA
Former Vice-Chair for Professional Regulatory Board of Accountancy

Click here for his profile.

 

Training Investment - Understanding Financial Statements

ONLINE MASTERCLASS


EARLY ACCESS PROMO
Jumpstart SpecialPhp. 1,199 + VAT per pax
(paid on or before August 7)

Early Bird RatePhp. 1,399 + VAT per pax
(paid on or before August 15)

GROUP PROMO
Group RatePhp. 1,299 + VAT per pax
(for 5 – 14 pax)

Super Group RatePhp. 1,099 + VAT per pax
(for 15 or more pax)

SPECIAL PROMO
Birthday Promo – Free Seat if you register within birthday month
with at least 2 paid pax @ Php. 1,699 + VAT per pax
(Must present proof of date of birth)

Join Now Pay Later PromoPhp1,899 + VAT per pax
(Pay after 30 days from the date of the masterclass)

Student RatePhp. 850 + VAT per pax
(Must present a valid High School or College student ID)

REGULAR RATE
Php. 1,699 + VAT per pax
(starting August 16)

 

Inclusive of the Masterclass Session, the presentation materials and the Digital Certificate.

 

In-House Training

Looking for customized in-house training in HR, Labor Law, Taxation, Accounting, Supply Chain Management, Soft Skills, or similar areas?

Click here for more information.

 

 

 

IMPORTANT REMINDERS

REGISTRATION.
You must register or be registered by someone else to be able to join our webinars.  Webinar access links are strictly sent through email therefore make sure you indicate the right email addresses for the participants. Please indicate how many participants you wish to include before hitting the REGISTER NOW button.

 

CHECK OUT.
When you go to the Checkout Page, double-check the number of participants you have to register, if you change your mind or wish to make last-minute adjustments, do not forget to update your cart by clicking the UPDATE CART button.  Once everything is final, you may now click the PROCEED TO CHECK OUT button.

 

BILLING DETAILS AND THE NAMES OF THE PARTICIPANTS.
On the upper portion, you have to enter your details (esp. your email address) as the one paying for the registration. Underneath, you have to enter the details (esp. the email addresses) of the participants you wish to join the webinar.

 

PAYMENT
POWERMAX provides three (3) payment options:
(1) Bank Deposit/Online Bank Transfer
(2) G-Cash
(3) PayPal/Credit or Debit Card Through PayPal 

 

Bank Deposit or Online Bank Transfer / G-Cash
If you choose Bank Deposit/Online Bank Transfer or G-Cash, you have to send the proof of payment to info@powermax.ph.

 

IMPORTANT:
Proof of payment must be sent to info@powermax.ph.  Failure to send the proof of payment to info@powermax.ph means the participants will not receive the webinar links even if the proof of payment is sent to other contact details of Powermax or its representatives (e.g., Facebook, Messenger, Viber, other email addresses, etc.).

 

Payment Through PayPal
If you choose to pay for your registration using PayPal you may do so.  Please take note that PayPal also accepts Debit Cards and Credit Cards bearing the VISA and Mastercard logo. Unlike the Bank Deposit/Online Bank Transfer, the PayPal process automatically updates our system to issue the participants their access to our webinars.

 

Masterclass access links.
Once payment is made and verified, we can activate the spot on the webinar then we can send the webinar access links to the email addresses of the participants – this only goes with Bank Deposit/Online Bank Transfer / G-Cash.  However, for payments made using PayPal, the activation process is automatic. Note that your webinar access link cannot be shared with anyone else.  If you cannot attend on the date and time of the webinar kindly advise us at the latest one day ahead. 

 

Terms and Conditions.
By registering you agree to our Terms and Conditions and acknowledge our Privacy Policy.

 

Thank you and enjoy!

Keep safe and God Bless!

1,399.00 + VAT

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Internal Control and Fraud Prevention

Internal Control and Fraud Prevention

Category: Tags: ,
5/5

1,399.00 + VAT