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7TH NATIONAL GST SUMMIT AND AWARDS 2024

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Masterclass On Internal Financial Control – New Delhi

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Date and Time:

October 12, 2017 9:00 AM - 5:00 PM

Event Location:

Hotel Eros, New Delhi, India

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Description

With advent of new Companies Act, 2013 guidelines, now there are new reporting requirements on the statutory auditors of companies which is to ‘Reporting on Internal Financial Controls’ which requires the auditor to state in his report whether the company has sufficient internal financial controls system in place and the operating effectiveness of such controls. IFC implementation is the prime responsibility of the Management.

It is our pleasure to inform that Achromic Point is organizing a Full day “Masterclass on Internal Financial Control” in the city of New Delhi on 12th October, 2017.

Topics Being Covered: 

Session 1:
What is Internal Financial Control (IFC)

  • IFC under Companies Act, 2013
  • IFC – Common Myth
  • SOX/IFC Global Scenario

Session 2:
Role of Board’s towards IFC

  • Criteria’s to be considered for developing, establishing and reporting on ICOFR
  • Understanding the process flaws, information systems changes, additional time required
  • Management’s testing by others
  • Prominence of entity level control

Session 3:
Auditor’s Role Towards IFC

  • Integrated Reporting
  • Integration with Internal Audit
  • Key Process and Control Assessment
  • Responsibility in case of unlisted Companies
  •  Combining and planning the audits
  • Understanding the risk of fraud
  • Communication considerations

Session 4:
Key Differences between IFC and Enterprise Risk Management

Session 5:
IFC – Approach, Planning and Methodology

 

Speakers

  • Ajay Minocha – Partner, Deloitte
  • Sidheshwar Bhalla – Director, Deloitte
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