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This Internal Controls for Financial Institutions course will cover:
Internal Controls in the Context of Today’s Corporate Governance
- What is Corporate Governance?
- Why is it different for financial institutions?
- Internal controls as a mechanism for controlling risks
- Board and senior management responsibilities for internal controls and the establishment of a control culture
- US Sarbanes Oxley Act 2002 and its requirements for monitoring and annual reporting on internal controls effectiveness
Main Components and Principles of Internal Controls
- The definition and purpose of internal controls
- The five components of the original COSO internal controls framework
- Integration of the original COSO control framework into COSO Enterprise Risk Management framework (ERM)
- Linking COBIT to COSO – Information technology framework and internal controls
Financial Sector Regulators and Internal Controls
- The three categories of objectives for internal controls
- COSO internal controls framework – the expanded 2013 revision
- The new seventeen principles – practical application to provide comprehensive controls
- The strong link between Basel II operational risk management and COSO
- Inherent limitations of internal controls
The Control Environment
- The vital first step – establishing the management tone at the top and an institution-wide code of conduct reflecting integrity and ethical values
- Board and management’s delegation of authority
- Commitment to competence – attracting, developing and retaining the right human resources
- Performance measures, incentives and rewards
Types of Internal Controls
- Risk appetite and strategy established by the Board and risk response strategies
- Control activities, internal controls, responsibilities and uses through the eyes of different stakeholders
- Inherent and residual risks
- Reporting and assurance
Please contact us for more information on pricing.
Why choose London Corporate Training?
We have trained over 2,500 delegates from almost 600 client organisations
Complimentary Heathrow transfer (one-way)
Endorsed by various organisational and subject specific accrediting bodies
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London Corporate Training (LCT)
London Corporate Training have been established in the education, consulting and training industries for two decades. They work as a training team from their head office in London and aim to ensure all of their course participants receive the highest...