Internal Financial Controls Online Certification Course

Internal Financial Controls Overview (For Beginners)

The topic gives you an overview of IFC and ICFR with the reporting to be done under IFC.

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1. Overview of Internal Controls
2. Seven Internal Control Procedure Examples
3. Limitations of Internal Control
4. What is Internal Financial Controls (IFC)?
5. IFC and The Law
6. Sarbanes Oxley Act
1. What is ICFR?
2. Overview on ICFR
3. Law and Penalty
1. What is COSO and COSO Framework?
2. Five Components of Internal Control framework
3. 17 Principles and focus points
1. What is ITGC?
2. General Controls
3. Application Controls
1. Overview
2. Assertions
1. Purpose and Importance
2. What to Test and How: Identifying Controls to Test
3. What to Test and How: Nature of Testing
4. Timing of testing
5. Sample Size for Testing
1. Under Section 143(3)(i)
2. In case of Consolidated Financial Statements
1. Internal Control over Financial Reporting (ICFR)
2. Enterprise Risk Management
1. Satyam Fraud Scam
2. PNB Scam
3. Quiz
1. ICAI Guidance on IFC - September 2015
1. Additional Reading
2. IFC Survey Report - Deloitte
3. IFC Survey Report 2020 - PWC
4. Internal Financial Controls
5. Riskpro Brochure
6. About Riskpro
7. Thank You
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