Internal Controls & the Three Lines Model
Overview
Strong internal controls protect assets, ensure reliable reporting and support compliance. This course explains the COSO internal control framework and the Three Lines Model, and shows how to design, document, assess and improve controls across processes, with clear roles for management, risk functions and internal audit.
Who should attend
Internal auditors, risk and compliance staff, finance managers, and process owners.
Training methodology
Interactive presentations, practical exercises, case studies, group discussions, role-plays where relevant, and a personal action plan that participants apply in their own work.
Objectives
By the end of this course, participants will be able to:
- Explain the COSO internal control framework
- Apply the Three Lines Model to their organisation
- Design and document process-level controls
- Assess control design and effectiveness
- Report and remediate control weaknesses
Course outline
Day 1Internal Control Fundamentals
- Purpose of internal control
- COSO components
- Control objectives
- Limitations of control
- Discussion
Day 2The Three Lines Model
- Roles of management
- Risk and compliance functions
- Internal audit
- Coordination and assurance mapping
- Case study
Day 3Designing Controls
- Process mapping
- Preventive and detective controls
- Segregation of duties
- IT controls
- Design exercise
Day 4Assessing Controls
- Risk and control matrices
- Control self-assessment
- Testing controls
- Evaluating deficiencies
- Testing exercise
Day 5Reporting and Improvement
- Reporting control weaknesses
- Remediation plans
- Continuous monitoring
- Control culture
- Action plan
