Global Learning for Operational Leaders
Classroom
14 sessions
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Online / Live
14 sessions
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Introduction
Course overview
Reliable financial reporting depends on effective internal controls over financial reporting. Many listed companies and regulated entities must formally assess and report on ICFR effectiveness.
This Aractech course covers ICFR frameworks, scoping and materiality, risk assessment, process documentation, control design including IT controls, testing, deficiency evaluation, management assessment and reporting. Participants document and test controls for a key process.
The course suits finance, controls and audit professionals.
What you will achieve
Learning objectives
- Explain ICFR concepts and frameworks
- Scope significant accounts and processes
- Document processes and risk-control matrices
- Design key and IT controls
- Test operating effectiveness
- Evaluate deficiencies and support management assessment
Who should attend
Target audience
- Financial controllers
- Internal control specialists
- Internal auditors
- Finance managers
- External auditors
- CFOs
Methodology
Learning approach
- Framework sessions
- Documentation workshops
- Control testing exercises
- Case studies
- Group discussions
Complete course outline
Five focused days of learning and application
The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.
Day 1
ICFR Fundamentals
- Purpose of ICFR
- Frameworks
- Regulatory requirements
- Roles
- Coffee break
- Roles (continued)
- Top-down approach
- Exercise: ICFR maturity review
Day 2
Scoping and Risk
- Materiality
- Significant accounts
- Processes and locations
- Risk assessment
- Coffee break
- Risk assessment (continued)
- Fraud risk
- Workshop: Scoping exercise
Day 3
Documentation and Design
- Process narratives and flowcharts
- Risk-control matrices
- Key controls
- IT general controls
- Coffee break
- IT general controls (continued)
- Entity-level controls
- Exercise: Risk-control matrix
Day 4
Testing
- Test design
- Sampling
- Walkthroughs
- Coffee break
- Walkthroughs (continued)
- Evidence
- Remediation testing
- Lab: Control testing
Day 5
Deficiencies and Reporting
- Deficiency evaluation
- Aggregation
- Management assessment
- Coffee break
- Management assessment (continued)
- Reporting
- Continuous monitoring
- Capstone: ICFR assessment
FAQ
Frequently asked questions
What does Internal Control over Financial Reporting (ICFR) (AGRC-038) cover?
This course covers Auditing and Governance Risk and Compliance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 2 - 6 November 2026. See the course schedules section for the available dates and delivery formats.
Who should attend this course?
Financial controllers, Internal control specialists, Internal auditors
Is bilingual course delivery available?
Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Check the course schedules section for currently published classroom and Online / Live sessions.
Where are classroom sessions delivered?
Current classroom venues include London, Istanbul, Barcelona, Munich, Rome, Amsterdam.
How long is the training programme?
The programme runs for five days from 09:00 to 14:00, which gives 25 contact hours, including a daily 30-minute break (22.5 hours of instruction).
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