Course curriculum

  • 1

    Introduction to Internal Financial Controls (IFC)

    • Overview of Internal Controls

    • Seven Internal Control Procedure Examples

    • Limitations of Internal Control

    • What is Internal Financial Controls (IFC)?

    • IFC and The Law

    • Sarbanes Oxley Act
  • 2

    Internal Control over Financial Reporting (ICFR)

    • What is ICFR?

    • Overview on ICFR

    • Law and Penalty
  • 3

    Entity Level Controls

    • What is COSO and COSO Framework?

    • Five Components of Internal Control framework

    • 17 Principles and focus points
  • 4

    IT General Controls (ITGC)

    • What is ITGC?

    • General Controls

    • Application Controls
  • 5

    Process Level Controls/ RCM

    • Overview

    • Assertions
  • 6

    Testing of Internal Controls

    • Purpose and Importance

    • What to Test and How: Identifying Controls to Test

    • What to Test and How: Nature of Testing

    • Timing of testing

    • Sample Size for Testing
  • 7

    Reporting

    • Under Section 143(3)(i)

    • In case of Consolidated Financial Statements
  • 8

    Collation with IFC

    • Internal Control over Financial Reporting (ICFR)

    • Enterprise Risk Management
  • 9

    Case Studies

    • Satyam Fraud Scam

    • PNB Scam

    • Quiz
  • 10

    ICAI Guidance on IFC

    • ICAI Guidance on IFC - September 2015
  • 11

    Resources

    • Additional Reading

    • IFC Survey Report - Deloitte

    • IFC Survey Report 2020 - PWC

    • Internal Financial Controls

    • Riskpro Brochure

    • About Riskpro

    • Thank You
  • 12

    Feedback Survey

    • Please Share Your Feedback