As organizations face increasing regulatory demands and risk scrutiny, the ability to design, implement, and test internal controls effectively has become a critical skillset. This immersive workshop is designed to build foundational and practical competence in control frameworks, documentation, testing, and compliance linkage. Participants will learn how to identify control objectives, evaluate gaps, and improve control performance using global best practices and case-based simulations—ensuring they contribute to stronger governance and regulatory alignment in their organizations.

Overview

Internal controls are critical to effective risk management and regulatory compliance. This three-day workshop provides practical training on designing, documenting, and testing controls, aligned with frameworks like MAS TRM, SFA, and FAA.

  Participants will learn to:

• Design and document risk-based internal controls
• Test control effectiveness through walkthroughs and analysis
• Align controls with governance and regulatory expectation

Who should attend

This course is tailored for:

• Risk and control professionals, compliance officers, and internal auditors
• Operations, finance, and IT staff involved in process integrity and controls
• Department heads, team leaders, and control owners in financial and non-financial sectors
• Consultants, regulatory reporting officers, and GRC practitioners
• Anyone looking to strengthen internal control testing and regulatory compliance capability.

Methodology

This workshop employs an interactive, non-theoretical approach, including:

• Scenario-based learning and group discussions
• Hands-on simulations and walkthroughs
• Templates, registers, and real documentation examples
• Peer review and facilitator feedback sessions.

Trainer

Delivered by an industry veteran with over 35 years of experience in control assurance, internal audit, and governance advisory. The trainer has served on expert panels for regulatory compliance, led control improvement programs across Asia-Pacific, and brings a pragmatic, case-based approach to the classroom.

Module – 1

Foundations of Internal Controls and Control Types

• What are internal controls? Their objectives and role in governance
• Importance in financial, operational, and compliance settings
• Types of controls: preventive, detective, corrective
• Examples across finance, operations, and IT

Module – 2

Designing Effective Key Controls

• Identifying key risks and control objectives
• COSO framework application for control design
• Characteristics of effective controls vs. weak ones
• Examples of well-structured vs. poorly designed controls

Module – 3

Documenting and Communicating Controls

• Templates: control registers, RCMs, flowcharts
• Writing clear, concise control descriptions
• Version control and audit trail basics
• Control awareness training within departments

Module – 4

Testing and Evaluating Control Effectiveness

• What is control testing? When and why it matters
• Types of testing: inquiry, observation, inspection, re-performance
• How to perform walkthroughs and gather evidence
• Interpreting test results and identifying gaps

Module – 5

Controls in the Regulatory Context

• MAS TRM Guidelines, SFA, FAA: key highlights
• How internal controls support regulatory compliance
• Mapping controls to obligations (e.g., MAS expectations)
• Industry-specific examples and case illustrations

Module – 6

Practical Simulation – Control Gap Identification & Recommendations

• Simulate a walkthrough for a process (e.g., payment or procurement)
• Identify control gaps and suggest improvements
• Use a control matrix to document findings
• Group presentation and peer feedback