The ability to effectively manage increasing risk in a dynamic business environment is now a key competency for middle and senior managers.
The internal control system is a key factor for the success of a company - reaching goals, setting the direction of development and creating effective business processes.
This training course was designed to provide knowledge about the risk management and internal control systems. We recommend further education by participating in our 16-hour training “Risk management”.
Key questions during the course
- What is risk? How do you identify and assess it?
- What does the process of risk management entail?
- Who is responsible for the risk?
- Does the size and type of company affect the risk management system?
- What is the correlation between risk and control?
- What are the purposes and different types of control?
- How do you document control?
- What are internal control tests?
- How do you describe control deficiency?
- What are the typical challenges in internal control?
- What are IT Dependencies and why are they relevant to companies and auditors?
- What does the Sarbanes-Oxley Act (SOX) cover and what are its requirements?
Training designated for:
senior and middle management who want to deepen their knowledge of risk management processes and the implementation of the internal control system;
public or private sector organizations’ members, including those not directly dealing with risk but with elements of risk management within their roles and organizations;
experts in the areas of finance or IT who deal with the design of processes in organizations;
small business entrepreneurs and startup owners seeking to minimize operational risk;
internal / external auditors;
professionals from large corporations required to comply with SOX or similar regulations.
Training program
1. Definition and types of risk
2. Risk management
3. Control as a risk mitigation tool:
- types of control
- designing control activities
- understanding and documenting 5W control (Why, What, Where, Who, When)
- Segregation of duty, SOD
4. IT control and dependencies:
- IT general controls, ITGC
- IT dependencies (calculations, reports, interface agreements etc.)
- the difference between automatic and IT dependent control
5. Control effectiveness tests:
- Test Design Effectiveness
- Test Operating Effectiveness
- assessment techniques and comfort level (from Inquiry to Reperformance)
- uncertainty sources analysis, control deficiencies and remediation process
- standard control testing challenges (real-life examples)
6. Methodologies and frameworks (COSO, COBIT, SOX)
Lecturers
Łukasz Troć
Łukasz is a manager in PwC’s Governance Risk and Compliance team. He has an experience of over 7 years in Risk management, internal audit and internal control. On a daily basis, he is responsible for verifying client processes, assessing the risk management process and validating the internal control environment in terms of design and operational efficiency.
In addition, he is a trainer providing training on:
- Risk management
- Business and IT process analyses from the perspective of risk identification and addressing
- Implementation and evaluation of internal control effectiveness
- Main methodologies and international frameworks
He is a Certified Internal Auditor (CIA) and Certified Information Systems Auditor (CISA).
Organizational information
- Trainings date
- Participation cost
Trainings date
Date: (2 workshops): 8-9 October, 2024
Duration: 8 hours - training conducted from 9:00 to 13:15 CET (including one 15-minute break).
Format: Open training, LIVE/Online
Language: English
The course can be conducted in a closed training format, tailored to the individual needs of the Client.
Participation cost
Price: 350 EUR + VAT
