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An autonomous istitution of Ministry of Finance, Govt. of India · 2017. 1. 11. · (NIFM),...
Transcript of An autonomous istitution of Ministry of Finance, Govt. of India · 2017. 1. 11. · (NIFM),...
An autonomous istitution of Ministry of Finance, Govt. of India
nthescenariowheretheworldismovingtowardstheobjectsofself-Isufficiency,self-governanceandself-reliance,thecompaniesshouldalsomovetoachieveself-regulationandgovernancetowardsbetter
functioningandsuccessfulendeavoursincomingfuture.InternalAuditisamechanismtoprovideanindependentandobjectiveassessmentoftheeffectivenessandefficiencyofacompany'soperations,specificallyitsinternal control structure. The function of internal audit helps anorganization to accomplish its objectives by bringing systematic anddisciplinedapproachtoevaluateandimprovetheeffectivenessofriskmanagement,control,andgovernanceprocesses.Thescopeofinternalauditing is broad and includes the efficiency of internal control,operations, ITcontrols, thereliabilityof financialreporting,deterringand detecting fraud and compliance with laws and regulations. Thisvaried service requires systematic expertise and specialization inconductinginternalaudit.
Today, Company Secretary plays a pro-active and central role in thegovernanceofthecompany.TheCompanySecretaryguidesthedirectorsin their pursuit of profit and growth and acts with integrity andindependencetosafeguardtheinterestofvariousstakeholders.
CompanySecretarybeingakey functionary inthecorporatepyramidwith expertise in vivid laws and Corporate Governance can lead thecorporate with utmost excellence and efficiency in establishing self-regulation through internal audit. With increasing emphasis on theprinciplesofgoodgovernanceandcompliances,CompanySecretarieshaveasignificantroletoplay.Theirserviceslayfoundationforstrongsystemsandprocedureswhichallowforregulatoryandlegalcomplianceandtherebyfacilitatetheintegrationofeffectiveinternalaudit,internalcontrolandriskmanagementpracticesforenhancedselfGovernance.
ThisDiplomainInternalAuditwillopenavastworldofopportunitiesforcompanysecretariesinthefieldofinternalauditing.
ection138oftheCompaniesAct,2013introducedtheconceptofinternalaudittotheSforefrontandhaswideneditsscopetoagreatextent.TheActhasmadeinternalauditofthe functions and activities mandatory for all listed companies and certain class of
unlistedandprivatecompanieswithaviewtoensurebettercomplianceandgovernance.
TheCompanySecretariesbeinggovernanceprofessionalsareaptlysuitabletoperformtheroleofinternalauditorsandhavebeeninter-aliarecognisedtobeappointedasinternalauditorsofthecompanyundertheprovisionofCompaniesAct,2013.
Therefore,withaviewtofurtherdeveloptheskillsofCompanySecretariestoconductinternalaudit including compliance and operational audits, offering solutions for weaknesses ininternalcontrolsandverifyingthesubjectivecomplianceofrelatedlawsandregulations,theInstituteofCompanySecretariesofIndia(ICSI)andNationalInstituteofFinancialManagement(NIFM),Faridabad,anautonomousInstitutionofMinistryofFinance,Governmentof India,have joinedhands toofferaDiploma in InternalAudit.ThisDiploma in InternalAuditwillenhance the skills and knowledge of the members and thus augment their aptitude indemonstratingtheirknowledgeandskillsininternalauditing.
OPPORTUNITIESFORCOMPANYSECRETARY
INTRODUCTION
IntroductionandEvolutionofInternalAudit• Definition,Purpose,Authorityand
ResponsibilityofInternalAuditing• TypesofinternalAudit• EvolutionandHistoryofInternalAuditing• InternalAuditorvsExternalAuditor• SoftSkillsrequiredbyanInternalAuditor• RoleofInternalAuditorasaManagement
Member• RoleofCompanySecretaryasanInternalAudit• StrategicandOperationalRoleofInternalAudit
PracticesrelatedtoInternalAuditing• StandardsonInternalAuditing–Nationaland
International• Laws and Regulations on Internal Auditing –
NationalandInternational• Corporate/OrganizationalGovernance
Principles• CorporateSocialResponsibility• CodeofEthics• EnvironmentalandSocietalSafeguards• ChangeManagement• Audit Practices in relation to the Accounting
System• SAP6:“StudyandEvaluationoftheAccounting
System and Related Internal Controls inConnectionwithanAudit.”
InternalControls• MeaningandDefinitionofInternalControl
EligibilityCriteria
Onlythemembersof theInstituteareeligiblefortheadmissiontothecourse.
RegistrationMembers interested to apply for the courseshallapplyonlinethroughInstitute'swebsiteatwww.icsi.edu.
Thememberswillbeenrolledonfirstcumfirstservedbasis.
FeeStructureRegistrationFees(Onetime):Rs.12,500+Servicetax
Thefeeswillbepaidonline.
CourseStructure
TheDiplomainInternalAuditisadvancedlevelcourseandwilltestaparticipant’sknowledgeof current internal auditing practices andunderstanding of internal audit issues, risksandremedies.
DurationofCourseis3months.
CourseContents
The Coursewill introduce the participants totheprocessandtechniquesofinternalaudit.
Participants will be given case studies everyweekforselfstudy.Selfstudycoursematerialshall also be made available online indownloadable format. Online virtual classeswould be provided to the participants onweekends.Therecordingofthesamewillnotbeavailablefordownload.
AttendanceAttendanceof60%isnecessaryinvideolecturetositintheexamination.
Candidatewhoisnotabletoattendtheclasswillbeprovidedonechance toview the recordedvideo.
Examination/AssessmentAnonlinetest/assignmentwillbeconductedattheendofeverycourse.
Incasetheparticipantisunabletoqualifytheonlinetestinhisfirstattempt,hewillbegiventwomoreattempt(s)toappearandqualifytheonlinetestinsubsequentbatch(s)ofthecourse.Non attempt of the examination shall also becounted as an attempt. There will be noseparateexaminationfee.
CertificationThe participants successfully completing theCourseshallbeawardedaDiplomaCertificateto that effect by the Institute of CompanySecretariesofIndiainassociationwithNationalInstituteofFinancialManagement.
COURSECONTENTS
Thiscoursewillintroducetheparticipantstotheinternalauditanditsprocesses–
Modeof No.of PurposeofLearning Hours Learning
SelfStudy 50 Todevelopconceptual Hours understanding
Webbased 50 TogivesufficientTraining, Hours PracticalKnowledgepreferablyonweekend
Headquarters : ICSI House, 22, Institutional Area, Lodi Road, New Delhi 110 003 tel: 011-45341000 / 41504444 • e-mail: [email protected] • website: www.icsi.edu
• DimensionsofInternalControl• Types of Controls and Management Control
Techniques• Internalcontrolschemes• InternalControlsontheAccountingFunction• Elements and Basic Principles and Inherent
Limitations• Internal Control Frameworks (eg – COSO,
Cadbury)• AlternativeControlFrameworks• RoleofInternalAuditorsinImplementationof
InternalControlsRiskManagement• RiskVocabularyandConcepts• Fraud
RiskAwareness• RiskManagementTechniques• EnterpriseRiskManagement(ERM)
Environment• Financial Risk Management Risk/Control
Implications of Different OrganizationalStructures
• EstablishingaRisk-BasedInternalAuditPlan• CaseStudies
FraudRisksandControls• Common Types of fraud and Fraud Risks per
EngagementArea• AssessingResponsetoEngagementAreaFraud
Risks• DeterminingNeedforFraud/Investigation• ProcessReviewforFraudControls
Improvement• DetectingFraud• CultureofFraudAwareness• Interrogation/InvestigativeTechniques• ForensicAuditing• DueDiligence• CaseStudies
Planning and managing Internal Audit andInternalAuditProgramme• InternalAuditPlan• ImportanceofPlanningInternalAudit
• FactorsforagoodAuditPlan• StagesforInternalAuditPlanning• KnowledgeoftheBusinessasanIntegralAspect• NatureofInternalAuditProgramme• AdvantagesandDisadvantages• Managing Individual Engagements – Plan and
SuperviseEngagements• UseofSamplingTechniquesanditsTests• Flowchartsandinternalcontrolquestionnaires• CaseStudies
InternalAuditToolsandTechniques• DataGathering• DataAnalysisandInterpretation• DataReporting• Documentation/WorkPapers• ProcessMappingincludingFlowcharting• EvaluateRelevance,Sufficiencyand
CompetenceofEvidence• UseofTechnologyinInternalAudit• Stepsinevaluationanditstechniques• CaseStudies
InternalAuditofSpecificFunctions• InventoryManagement• ProductionandOperations• Marketing• FinanceandAccounts• HumanResources
InternalAuditReports• FrameworkforInternalAuditReports• ReportWriting–CommunicatingEngagement
results• MonitoringEngagementOutcomes• Importance of working papers; CARO –
Companies(AuditorsReport)Order2003.