Why you should take this training?

The training is designed to help the participants understand the rules and principles of management control, implement in practice a key point of management control, namely risk management, and to present the changes brought about by the Public Finance Act, with particular emphasis on the organisational place and method of exercising management control. It will also provide a possibility to consult on documents that had been implemented in particular divisions with the expert conducting the training.

Who is it for?

1. Public sector executives and managers.
2. Internal auditors and inspectors.
3. Chief Accountants and persons responsible for the financial management and control procedures within an entity.

Agenda of the training:

I. Management control system:

1. Definitions and concepts required to understand the issue
2. Management control objectives and functions
3. Distribution of roles, competencies and responsibilities in the organisational structure under management control
4. Management control versus audit

II. Management control standards: presenting the ensuing obligations

1. Internal environment
2. Objectives and risk management
3. Control mechanisms
4. Information and communication
5. Monitoring and assessment

III. Planning objectives and tasks and reporting on their completion:

1. Rules of goal setting
2. Cascading objectives
3. Determining indicators
4. Methods for monitoring the completion of objectives and implementing corrective measures
5. Reporting on objective completion
6. Assessing objective completion

IV. Place and role of risk management in the management control system (risk mapping, risk register):

1. Types of risks
2. Risk identification methods
3. Risk level analysis
4. Risk prioritisation by severity
5. Responding to risks

V. Assessment of the management control system:

1. The merits of internal system assessment
2. Methods for conducting internal assessment
3. Learning from internal assessment
4. Statement on the condition of management control as an insight on the level of implementation of successful and effective management control

VI. Discussion of basic management control documents:

1. Rules of management control
2. Business plan of an entity
3. Reporting on activity plan completion
4. Risk register
5. Risk assessment maps
6. Internal assessment questionnaire
7. Declaration on the management control status