(14 CPEs)
27 - 28 July 2023
The Gardens Hotel, Kuala Lumpur
1️⃣ The Activities In Your Organisation
2️⃣ The Number Of People Who Perform The Activities
3️⃣ The Number Of Processes Involved
4️⃣ Legal And Regulatory Requirements To Be Followed
5️⃣ Risks And Consequences Should The Activities And Processes Fail
proper Internal Controls put in place?
🔑Risk Mitigation:
Effective internal controls reduce the risk of fraud, errors, and asset misappropriation, safeguarding resources and protecting the organization's reputation.
🔑Financial Accuracy:
Internal controls ensure accurate and reliable financial information, instilling confidence in stakeholders and improving the integrity of financial reporting.
🔑Operational Efficiency:
Internal controls streamline processes, eliminate inefficiencies, and optimize resource allocation, resulting in cost savings and improved productivity.
🔑Compliance with Laws and Regulations:
An effective internal control system ensures compliance with laws, regulations, and industry standards, mitigating legal and regulatory risks and maintaining an ethical culture.
RED FLAGS YOU NEED TO KNOW
🚩 Unexplained or significant deviations from established policies, procedures, or guidelines
🚩 Inconsistencies or anomalies in financial records, such as missing or altered data, unexplained adjustments, or unusual patterns of transactions
🚩 Excessive or unauthorized access to sensitive information or systems
🚩 Conflicts of interest, including relationships or financial interests that may compromise objectivity or decision-making
🚩 Unusual or unexplained employee behavior, such as excessive overtime, unauthorized access to restricted areas, or changes in work habits
RED FLAGS do not indicate guilt or innocence but merely provide possible warning signs of fraud. The more red flags that are present, the higher the risk that fraud, waste and abuse are occurring, or could occur. Good internal control reduces the risk of irregularities and improper activities in addition to reducing the risk of undetected errors.
Know the COSO framework inside out to identify control weaknesses & implement effective control activities for the core business processes:
🏢 Procurement
🏢 Payment
🏢 Revenue
🏢 Receipts
🏢 Inventory
🏢 Fixed Asset Management
Internal Controls Masterclass
✅ Gain knowledge of relevant risks and controls
✅ Identify control weaknesses
✅ Implement effective control activities for core business processes
✅ Develop your own Internal Controls Checklist
✅ Evaluate internal control practices currently implemented in your organisation
- INTERPRET Fundamental And Important Internal Controls
- IDENTIFY The Importance And Limitations Of Internal Controls
- EVALUATE The Objectives Of Implementing Internal Controls
- DISPLAY Internal Controls Within Existing Processes To Mitigate And Detect Fraud And Errors
- EXPLAIN The Design And Operating Effectiveness Of Existing Internal Control Practices
- IDENTIFY The Five (5) Components Of Internal Control
- DISCOVER The Components Of An Effective Control Environment
- LEARN About The Ten (10) Most Commonly Implemented Control Activities To Manage Potential Operational And Financial Risks
- ASCERTAIN The Significance Of Information & Communication And Monitoring Controls
- IDENTIFY The Key Risks Areas Of The Procurement, Payment, Revenue, Receipts, Inventory And Fixed Assets Management Processes
- DETERMINE The Control Objectives Pertaining To The Relevant Sub-Processes
- IMPLEMENT Effective Key Control Activities For Each Of The Aforesaid Business Processes And Sub-Processes
- LEARN To Develop Your Own Internal Controls Checklists To Evaluate Existing Internal Controls With Provided Templates
Hundreds of hours of research, study, planning and fine tuning go into the production of each of our trainings. Our course developers have looked at your industry’s needs. This course reflects the latest findings and best practices in your field today and addresses issues up-to-the-minute. You will get tools, tips, strategies that are proven and tested against real world situations as you learn from case studies and the experience of our expert trainers. Our trainings are comprehensive, in-depth, and packed with need-to-know information you can use as soon as you return to your workplace.
SYLVIA LIM
Ms. Sylvia Lim is the Founder and Managing Director of Excellence Link Associates, specialising in coaching, consulting and training on business risk management and fraud awareness.
Sylvia has worked with the Big Four accounting firms, multinational corporations and local companies in Hong Kong and Singapore.
During her career with the Big Four accounting firms, Sylvia has conducted various training programs on corporate governance, internal controls and anti-fraud to the directors of companies listed in Hong Kong. Sylvia has also been extensively involved in risk management, internal control, internal audit and Sarbanes-Oxley compliance projects in Asia Pacific.
Having managed business risks projects in a wide range of industries which include consumer products, hospitality,
manufacturing and retail in Asia Pacific for over ten years, Sylvia is able to share relevant and insightful Asia’s business risks and controls knowledge and experiences with her training participants. Her interactive training sessions are filled with group discussions and activities to enable her participants to acquire the relevant knowledge and skills for practical application at their organisations.
Sylvia is a Certified Internal Auditor of the Institute of Internal Auditors and Certified Fraud Examiner of the Association of Certified Fraud Examiners. Sylvia has also been an Associate Trainer with the Institute of Internal Auditors Singapore for over 3 years.
• Finance & accounting professionals
• Internal auditors
• Risk managers
• Compliance officers or managers
• Managers and staff who plays a part in executing internal controls
“Sylvia is a knowledgeable trainer and she gave a good analogy for better understanding. Clearly, this is a good course, well balance in theory and practical.”
Senior Manager, Compliance and Risk Management, Cyberview Sdn Bhd
“I have learnt ways to prevent fraud by strategically putting the control in the right place. The course outline is very structured.”
Head of Section, Internal Auditor, Internal Audit Section, Suruhanjaya Syarikat Malaysia
“During the training, we have learnt on fraud detection and prevention in the procurement function. The best is to enhance knowledge on procurement fraud control and detection.”
Senior Executive, Group Integrity and Assurance, Chemical Company of Malaysia Berhad
“Sylvia is an experienced and skilled trainer. What I like best is when we learn about the enhancement of skill and can be applied based from organisational needs.”
Assistant Vice President, Procurement, POS Malaysia Berhad
Akzonobel Paints,
Allianz General Insurance, Alstom, Arvato
Bertelsmann, AstraZeneca, BASF, Bayer, British American Tobacco, Canon Marketing, Chevron,
CIMB, Bank Negara, Crowne Plaza Group of
Hotels, EON, ETIQA, Fairchild, Gamuda Group,
Gleneagles Hospital Group, IOI Group of
Companies, JT International, LB Aluminum,
MARCO Corporation, Maybank, NEC, OSK,
Pantai Hospital Group, Pelabuhan Tanjung
Pelepas, PIDM, Prudential Assurance Malaysia,
SAMSUNG, Securities Commission, SHELL
Refinery, Takaful Malaysia, UMW Toyota,
Western Digital, and many more.
