Financial Control

Program Overview

A specialized program designed to equip financial controllers and finance managers with the knowledge and practical skills required to design, implement, and evaluate risk-based financial control systems. The program focuses on strengthening internal control frameworks, analyzing financial performance indicators, and assessing the effectiveness of internal controls to enhance the integrity of financial operations and the reliability of financial reporting.

Duration: 4 Days
Training Hours: 24 Training Hours
Target Audience: Financial controllers, finance managers, chief accountants, and members of board audit and risk committees.
Delivery Mode: In-person / Live Online

Detailed Learning Objectives

By the end of the program, participants will be able to:

• Understand and apply the COSO Internal Control Framework to establish an integrated enterprise-wide financial control environment.
• Design effective financial control points and comprehensive control matrices for key financial processes.
• Analyze quantitative and qualitative financial performance indicators to identify anomalies, trends, and potential control weaknesses.
• Evaluate the effectiveness of internal control systems through Tests of Design (ToD) and Tests of Operating Effectiveness (ToOE).
• Prepare financial control reports that provide senior management and the Board of Directors with actionable insights to support informed decision-making.

Key Topics

• The COSO Internal Control Framework: The five components of internal control and their practical application within Saudi organizations.
• Designing Financial Control Matrices: Identifying key control points, documenting control activities, and establishing effective financial control procedures.
• Financial Data and Performance Analysis: Quantitative analytical techniques, trend analysis, ratio analysis, benchmarking, and anomaly detection.
• Testing Internal Controls: Methodologies for Tests of Design (ToD) and Tests of Operating Effectiveness (ToOE), control evaluation, and documentation.
• Controls in ERP and Information Systems: General Information Technology Controls (ITGCs), application controls, and integrating IT controls with enterprise financial control frameworks.