Many organizations today are facing a challenge of effectively managing public funds with the increasing demand for accountability and transparency in financial process. There is also increasing risk of false financial transactions, embezzlement, fraud and various forms of financial risk.

If an organization is taking the time and effort to develop a procedure based, financial process and ensuring value for money in all transactions. The organization must understand the effective methods and techniques of managing public funds, the COSO internal control framework, and how to identify the most important financial reporting risks, and how to test both the manual and automated financial reporting controls to be sure they work on a continuous basis.

Overall Objective 

Effective methods and techniques of managing company funds will enable participants to design and implement robust financial management techniques, safeguard business transactions, enhance the integrity of organizations and protect them from operational risk.

Specific Objectives

• Understand the effective methods and techniques for major financial processes
• Design and run the resource planning system and sets budgets for individual departments to meet ministry’s fiscal policy objectives
• Determine which processes provide a level of risk or materiality in reaching financial goals
• Prioritize development expenditure according to risk, materiality and performance goals
• Appreciate the need for financial control in organizations and the COSO internal control framework
• Ensure that financial data is recorded, consolidated, and reported accurately, timely, and in compliance with financial policies of the organization
• Protect accounting software to ensure that access to information and editable fields is limited to appropriate personnel.