Training programme on application of Internal Control Mechanism.
The program provides 11 videos introduced in 54 minutes the internal control in compliance with COSO framework, the components of the internal control and the steps to set up and operate the internal control system in the enterprise. In almost countries an internal control framework is designed and developed in accordance with the standards of COSO 2013 Report, focusing on the close link between internal control, risk management and corporate governance. Accordingly, 5 key components of internal control are identified such as Controlled environment; Risk assessment; Control operation; Information and communication; Monitoring activities. To set up internal control mechanism, the training programme guides a process to develop internal control including 2 stages: preparation and development. However, the changes in mind and habits of the company’s leaders and staffs, the change in the company’s practice are important. To make it effective, the operation of internal control should involve Board of Directors, Audit Committee, Internal Audit, Independent Auditor, Staff and related departments, units in the company. Especially, it is essential to conduct evaluation on internal control activities in accordance with certain criteria based on 5 important components of internal control. In addition to the training videos, the program also shows the case studies and shares learning materials for study.