Adding Value in Internal Audit
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Professional training course · AGRC-038
Internal Control over Financial Reporting (ICFR)
Reliable financial reporting depends on effective internal controls over financial reporting. Many listed companies and regulated entities must formally assess and report…
- 5 daysClassroom
- 13Upcoming dates
- 6Cities
- £2,850Fees from
Course overview
Why Attend
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 LLMI 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.
Course 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
Target Audience
Financial controllers
Internal control specialists
Internal auditors
Finance managers
External auditors
CFOs
Course Methodology
Framework sessions
Documentation workshops
Control testing exercises
Case studies
Group discussions
Course outline
-
1Day 1: ICFR Fundamentals
- Purpose of ICFR
- Frameworks
- Regulatory requirements
- Roles
- Top-down approach
- Exercise: ICFR maturity review
-
2Day 2: Scoping and Risk
- Materiality
- Significant accounts
- Processes and locations
- Risk assessment
- Fraud risk
- Workshop: Scoping exercise
-
3Day 3: Documentation and Design
- Process narratives and flowcharts
- Risk-control matrices
- Key controls
- IT general controls
- Entity-level controls
- Exercise: Risk-control matrix
-
4Day 4: Testing
- Test design
- Sampling
- Walkthroughs
- Evidence
- Remediation testing
- Lab: Control testing
-
5Day 5: Deficiencies and Reporting
- Deficiency evaluation
- Aggregation
- Management assessment
- Reporting
- Continuous monitoring
- Capstone: ICFR assessment
Dates and fees
Questions
Frequently asked questions
How long is the Internal Control over Financial Reporting (ICFR) course?
The course runs over 5 days of classroom training, usually Monday to Friday.
When is the next Internal Control over Financial Reporting (ICFR) course?
The next public date is 21 - 25 Dec 2026 in Istanbul. There are 13 upcoming dates in total.
Where is this course held?
Upcoming sessions run in Istanbul, Barcelona, London, Munich, Rome, Amsterdam.
How much does the course cost?
Fees start from £2,850 per delegate, depending on the city. Fees include tuition and course materials.
Do participants receive a certificate?
Yes. Delegates who complete the course receive a London Leadership Management Innovation certificate of completion.
Can this course be delivered in-house for our team?
Yes. LLMI can tailor and deliver this course privately for your organisation at your premises or in one of our training cities.
Course information last updated 14 November 2026.
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