Certified Internal Control Professional (CICP)

Course Code: FA13

►Course Objective


  • Define the GRC system
  • Devise controls that are appropriate for the risks at hand
  • Implement segregation of duties and internal controls in the accounting department and business cycles
  • Safeguard information technology systems and data centers
  • Design and maintain financial controls
  • Comply with financial and other external reporting requirements


►Target Audience


  • Accounting professionals
  • Financial executives
  • Auditors
  • Financial analysts
  • Bankers
  • Investment bankers
  • certified financial and accounting personnel especially accounting managers and controllers.


►Course Outline

:Day 1

Introduction to corporate control environment

  • Introduction to GRC: governance, risk and compliance
  • Introduction to ERM
  • GRC system: governance, risk and controls
  • Risk response and related internal controls
  • Purpose of internal controls
  • Compliance requirements through internal controls
  • Compliance requirements for oversight boards
  • Examples of compliance requirements
  • Other considerations: fraud prevention and customer satisfaction
  • The human element role in controls
  • Technology role in implementing controls
  • Segregation of duties in business cycles
  • Required reporting in business cycles
  • Approvals and authorization in business cycles
  • Risks to corporation in lack of control in the cycle
  • Costs of controls and controlling costs in business cycles
  • Controlling assets and inventory movements within the company
  • Preventing fraud through proper controls

Day 2:

Implementing controls in business cycles

  • Controls in purchase and payment cycle
  • Controls in inventory and costing cycle
  • Controls in HR and payroll cycle
  • Controls in sales and collection cycle
  • Controls in fixed assets life cycle

Day 3: 

Admin controls for IT and facility

  • Safeguarding data
  • Access to communication systems
  • Security reports
  • Controlling access to building
  • Controls on maintenance and repairs
  • Safety and security controls
  • Legal implications on some safety measures
  • Required reporting in administration

Day 4:

Financial controls

  • Controlling access to financial assets
  • Controls on financial reporting
  • Controls through budgets
  • Controls through management reporting
  • Implementing financial controls through policies and procedures

Day 5: 

External reporting

  • Centralization or decentralization of reporting
  • Financial reporting requirements
  • Reporting to labor related authorities

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Date & Location

Date : 17 March 2019

Duration : 5 days

Place : Kuala Lumpur

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Date : 16 June 2019

Duration : 5 days

Place : Jakarta

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