Risk Management & Internal Controls Training

Every organisation faces risks to its objectives, and internal controls are how it responds. Strong risk management and internal control improve decision-making, reduce losses and meet the expectations of boards, auditors and regulators. In India, directors and auditors must also report on internal financial controls under the Companies Act, so these skills are directly relevant.

This course covers the full lifecycle. You will learn the language of risk, risk appetite and tolerance, enterprise risk management using the COSO ERM framework and ISO 31000, and how to identify, analyse, evaluate and treat risks. A major section covers internal control using the COSO Internal Control Integrated Framework: control environment, risk assessment, control activities, information and communication, and monitoring. You will design a risk and control matrix, differentiate preventive, detective and corrective controls, test controls and report deficiencies.

The course also covers the three lines model, fraud risk and anti-fraud controls, IT and automated controls, process-level controls for key cycles, internal audit's role, and risk reporting to the board. Exercises use templates you can apply at work. There is no external exam; it supports further study such as CIA, CRMP-type certifications, FRM or CISA.