Internal Control and Fraud Prevention
Featured Speaker: Dr. Rufo R. Mendoza
Former Vice-Chair of Regulatory Board of Accountancy
August 02, 2022
2:00pm – 5:00pm
Regular Rate Php 1,699.00 + VAT starting July 27, 2022
Early Bird Rate Php 1,399.00 + VAT until July 26, 2022
Group Rate Php 1,299.00 + VAT per pax for 5 – 14 pax
Super Group Rate Php 1,099.00 + VAT per pax for 15 or more pax
Inclusive of the Webinar Session, the presentation materials and the Digital Certificate *******************************************************************
Internal Control and Fraud Prevention
Rationale of the Seminar
Internal controls help an organization achieve its goals. It is a critical component of managing an organization and a foundation for its safe and sound operations. An effective internal control system helps an entity promote orderly, economical, efficient, and effective operations. It seeks to safeguard the resources and maintain reliable financial and management data. It enables compliance with laws and regulations and helps in mitigating the risk of unexpected losses or damage to the organization and its reputation.
Implementing internal controls is an effective way to reduce company’s exposure to fraud risk. This will help limit the opportunities for employees to commit fraud. Since fraud comes in various forms, internal controls have the inherent nature to prevent fraud even before it occurs.
This seminar provides a wholistic framework in understanding internal controls. In addition, it links internal controls with the overall management of fraud, primarily on how to prevent its occurrence. This is useful for business owners, top management, board of directors, officers, and employees in different units or divisions of an organization.
At the end of the seminar, the participants are expected to
- Explain the nature of internal control and its relationship with risk and audit and how they drive value for an organization;
- Discuss the framework, components, and measures and how internal controls can be implemented in real business operations;
- Differentiate the various types of fraud;
- Explain the manner through which internal controls can prevent fraud; and
- Assess internal control practices and devise workable solutions for identified internal control weaknesses.
Outline of Topics
1. Understanding the Trilogy of Risk, Control, and Audit
- Nature of risk, controls, and audit
- Roles and responsibilities for internal controls in an organization
- Benefits of a strong internal control system in an organization
- Levels of internal controls ladder
2. Five Components of Internal Control System
- Objectives of internal controls
- Five components: control environment, risk assessment, control activities, information and communication, and monitoring
- Emphasizing control activities for businesses
3. Nature and Classification of Fraud and Fraud Management
- Fraud Elements and Principles
- The Fraud Triangle
- Classification of Fraud
- Four Fraud Management Activities
4. Control Activities to Prevent Fraud
- Control Activities as the day-to-day component of internal control
- Control Activities to Prevent Fraud in Company Assets
- Control Activities to Prevent Fraud in Company Liabilities
- Control Activities to Prevent Fraud in Revenues
- Control Activities to Prevent Fraud in Expenditures
Resource Speaker – Dr. Rufo R. Mendoza
- Dr. Rufo R. Mendoza was a member of the Professional Regulatory Board of Accountancy for seven years, where he was the Vice-Chair for three and a half years. He was also the Chair of the PRC’s Continuing Professional Development Council for Accountancy for five years. In his tenure in the BOA, he represented the country in the ASEAN Meetings of Professional Regulatory Authorities for the Mutual Recognition Arrangement on Accountancy Services. He was also the country’s delegate to the APEC Senior Officials Meeting in Accounting Services. He was PICPA’s national awardee as Outstanding CPA in Professional Development in 2008 and Outstanding CPA in Government Service in 2010.
- He has more than 20 years of experience in external audit and internal audit of private businesses. He has 15 years of extensive experience in consulting with international development organizations in the area of public financial management that covers the internal control system, risk management, and internal audit. He was Consultant at World Bank, UNDP, European Commission, Australian Agency for International Development, and United States Agency for International Development.
- He has a master’s degree in development management and a Ph.D. in community development and agribusiness management both from the University of the Philippines Los Baños, where he was awarded membership in three international honor societies.
- He taught in the graduate school of leading universities in the Philippines, including the Asian Institute of Management, Ateneo de Manila University’s School of Government, UP Open University, University of Philippine Los Baños, and De La Salle Lipa.
- Currently, he is a National Capacity Development Expert at the Asian Development Bank.
We can conduct in-house training for the above program for your company to make it more customized to your requirements.
In the same vein, with our battery of seasoned Filipino trainers or speakers, training consultants and facilitators, we can conduct other employee development programs for your people configured to your preferences:
HUMAN RESOURCE or HR
- Basic and Advanced HR
- Recruitment or Talent Selection
- Training or Learning and Development
- Job Evaluation
- Employee Compensation and Benefits
- Labor Law 101
- Flexible Work Arrangements
- Company Policy
- Employee Discipline
- Administrative Hearing
- Job Contracting
- Basic Taxation
- All About VAT
- Withholding Taxes
- Tax Assessment
- Percentage Tax
- Legal Strategies to Reduce Tax
- Handling B.I.R. Audit
- Employee Benefits Tax
- Basic Accounting and Bookkeeping
- Understanding Financial Statements
- Strengthening Your Accounting Systems
- Internal Control
- Accounting for Non-Accountants
- Finance for Non-Financial Professionals
SUPPLY CHAIN MANAGEMENT
- Introduction to Materials Management
- Warehouse Management
- Inventory Planning and Control
- Modern Procurement
- Supply Management
LEADERSHIP, MANAGEMENT OR SUPERVISION
- Basic Leadership and Management Excellence
- Supervisory Leadership Development
- Developing Your Managerial Leadership
- How to Bring Out the Best in People
- Awaken the Sales Champion in You
- Professional Selling
- How to Handle Objections
- 39 Ways to Close More Sales
- Customer Service
- Telephone and Email Etiquette
- Top Techniques to improve Collection
- Work Attitude and Values Enhancement
- Mastering Verbal and Non-Verbal Communication
POWERMAX WEBINARS. As a leading online corporate training provider in Manila, Philippines, Powermax currently offers live webinars which are designed to give you an incisive insight into a plethora of interesting and relevant topics using Zoom technology. It aims to uncork the latest updates, best practices, useful strategies, and tactics, and/or practical tips and techniques not just to widen your horizon but also to equip you with the essential knowledge and skills. Hopefully, this will also encourage you to register for the other webinars of Powermax. Just visit our site –www.powermax.ph to see our other webinars.
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POWER WEBINARS. Powermax live webinars are designed to give you an incisive insight into a plethora of interesting and relevant topics using Zoom technology. It aims to uncork the latest updates, best practices, useful strategies, and tactics, and/or practical tips and techniques not just to widen your horizon but also to equip you with the essential knowledge and skills. Hopefully, this will also encourage you to register for the other webinars of Powermax. Just visit our site – www.powermax.ph to see our other webinars.
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- Download and install the Zoom application beforehand
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- Definition of Terms
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(a) Some speakers willingly share their materials while others don’t
(b) For the speakers who are willing to share their presentation materials
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Thank you and enjoy!
Keep safe and God Bless!
Internal Control and Fraud Prevention