INTERNAL CONTROL AND RISK MANAGEMENT COURSE

Course Facts

Download the full course brochure (pdf format)

Background and topics covered

Please also read the fact sheet of the Foundation Course of the Public Finance Management Programme.

The Public Finance and Management Act requires all public entities and departments to ensure that they develop and maintain effective and efficient systems of financial and risk management and internal control. They also have to develop and maintain a system of internal audit under the control and direction of an auditor, prevent losses resulting from criminal conduct and take effective and appropriate steps against perpetrators.

This clearly highlights three major areas of management focus

• internal control and risk management

• internal audit and audit committees

• procedures to deal with fraud.

Public sector employees must be empowered to face these challenges and to build staff capacity able to manage these diverse risks.

This course is designed to empower participants to deal effectively and efficiently with the requirements stated above. The course strikes a balance between management skills and the conceptual knowledge required to understand these concepts. A major Case Study forms an integral part of the learning experience.

Group size is limited to enable optimal interaction, participation and maximum retention of knowledge and skills.

The course is specifically designed from a public sector perspective and suited for officials at all three tiers of government: internal auditors, financial managers, administrative and logistics personnel, audit committee members, accountants, line managers and other role players in the accountability chain. All office bearers who have to deal with or who are responsible for matters relating to internal control, risk management, internal audit or audit committees, will benefit greatly from attending this Module.

Specific topics are arranged in four Units:

Unit 1: Orientation with regard to the PFM Act

• The control environment established by the PFM Act

• Accountability - central theme of the PFM Act

• Responsibilities of accounting officers and other officials in departments

• The public sector environment

• Basic management objectives

• Regulations - Norms and standards. Specific reference to the Treasury Regulations

• Individual application systems in the public sector.

Unit 2: Risk and risk management

• Internal controls aim to control risks

• What is risk?

• The theory of risk management

• The risk management process

• Risk assessment - the simple risk dimensions method and the matrix method

• Practical risk management in the public sector.

• Unit 3: Internal control structure

• The internal control structure as a risk management technique

• Definitions of internal control

• Inherent limitations of internal control

• Understanding organisational activities

• Flow charting and internal control questionnaires

• COSO's components of internal control

• A practical internal control structure - the control environment, basic application controls and disciplinary controls

• Internal control development

• Evaluating internal control systems.

Unit 4: Internal controls for individual applications

The application of the requirements of the PFM Act and the Treasury Regulations in the context of a standard internal control structure. Internal controls with regard to the following individual applications are discussed and applied using an integrated case study:

• Revenue collection and receivables

• Banking and cash

• Personnel and personnel costs

• Procurement, contracts and expenses

• Non-current physical assets

• Liabilities and commitments

• Trust money and property, and donor funds.

Participants receive detailed complimentary notes to facilitate continued learning even after the course itself has ended.

Bookings

Since only a limited number of participants can be accommodated, bookings will be handled on a first-come-first-served basis. To avoid disappointment submit your registration as soon as possible.

Changes / cancellations:

Tax invoices will be issued (faxed and posted) on receipt of your booking. Once a tax invoice has been issued the department/delegate will be held liable for payment of the full course fee.  No refunds can be made, but alternative delegates (substitutes) may attend the same course at no extra cost. All booking changes or cancellations are charged at R1,368.00 (R1,200 plus 14% VAT) per delegate booking. No cancellations or changes in booking will be accepted if not received in writing at least 5 working days before the course. Invoices must be paid before the course starts. No certificates will be issued if payment is outstanding. Outstanding payments incur 2% interest per month. Due to the minimal information which banks provide in respect of direct deposits, participant have to fax their deposit slips / electronic transfer slips to the Secretariat and state the invoice number/(s) to which the deposit refers. As required by recent legislation, VAT numbers have to be provided with registration. The Institute reserves the right to cancel a particular course due to unforeseen circumstances e.g. insufficient bookings or unavailability of venues (in the last few years, only a few courses had to be cancelled). In such event, participants will be informed at least two weeks before the scheduled course date of such cancellations. Participants who have paid their fees will receive full refunds in the event of SAIGA cancelling a course (SAIGA’s liability in such event is limited to this refund).

To register for this course, or any other course, kindly complete our online registration form:

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