HLB Mont Audit Ltd.  in cooperation with The Institute of Internal Auditors of Montenegro (IIRCG) from Podgorica  and the Montenegrin Educational Center  organized a certification for the title:

 

CERTIFIED EXPERT IN INTERNAL CONTROL SYSTEM ASSESSMENT

This specialized education/certification process is based on the international guidelines of the COSO organization (www.coso.org), which is recognized as a leader in adopting guidelines for establishing internal control systems and risk management in companies. After successfully completing the course, participants are able to design, implement, and assess the effectiveness of internal control systems in companies based on contemporary COSO principles. Participants also gain knowledge to understand the theoretical aspects of the COSO framework, which is the most renowned framework worldwide, and then learn through practical examples and tools how to implement them in their organization and in self-assessing the quality of internal audit work, risk management, and internal control assessment (RCSA) processes.

Successful participants of this specialized training have acquired knowledge regarding:

  • Understanding the COSO framework related to internal control management in accordance with generally accepted standards,
  • Application of the integrated COSO internal control framework in their company and its application in internal audit work,
  • Use of the COSO framework in internal audit planning, fieldwork, and reporting,
  • Implementation of the integrated COSO internal control framework in organizations in line with recommendations from the global organization of internal auditors (IIA) on adopting the “Three Lines of Defense” model when adopting best practices in Corporate Governance in companies,
  • Assessment of the existing internal control system in the organization in accordance with the COSO framework.

Submitting a request for issuance of the certificate:

After meeting the requirements for obtaining the certificate, the candidate is required to fill out the “Request for issuance of a specialist certificate for obtaining the IIRCG title of Certified Expert in Internal Control Systems Assessment” and submit it along with supporting documentation to the premises of the Institute of Internal Auditors of Montenegro.

Along with the request, it is necessary to provide evidence of meeting the requirements for certificate issuance in accordance with the Regulation on Education and Certification of IIRCG members:

  • Diploma of higher education (certified copy);
  • Proof of possessing at least three years of work experience in the field of audit, internal audit, accounting, finance, control, and planning and analysis;
  • Proof of signing the Code of Professional Ethics;
  • Proof of signing the “Application Form” for IIRCG membership;
  • Proof of payment of the certificate issuance fee (50 €);
  • Proof of payment of the defense fee for the entrance work before the Commission (150 €);
  • Proof of payment of the annual membership fee;
  • Proof of payment of the training fee.

YOU CAN VIEW THE COMPLETE PROCESS/PHASES OF EDUCATION/CERTIFICATION FOR OBTAINING THIS SPECIALIST TITLE IN THE FORM OF A POWERPOINT PRESENTATION WHICH YOU CAN DOWNLOAD BY CLICKING HERE.

The topics covered during the education are:

  1. COSO Integrated Framework of Internal Control: Basics and Theoretical Approach
  2. Application of COSO Framework by Internal Audit in Planning, Implementation of Engagement, and Reporting
  3. Application of COSO Framework by the Organization (Implementation of the “Three Lines of Defense” Model Requirements in Establishing Corporate Governance)
  4. Assessment of Risk Management System and Internal Control
  5. Practical Examples

SPEAKER INFORMATION:

Verra Marmalidou, CIA, CRMA,  EQA
President of IIA Greece, Member of the Board of Directors of ECIIA Brussels

Verra Marmalidou is the President of the Institute of Internal Auditors Greece (IIA Greece), a member of the Board of Directors of ECIIA Brussels (European Confederation of Institutes of Internal Auditors), and a member of the ECIIA Banking Committee.

She works at the National Bank of Greece as the Director of Internal Audit. She is an expert in developing internal audit methodology, developing an annual audit plan based on risk assessment, assessing the quality of internal audit work, and developing key performance indicators relevant to internal audit.

Verra Marmalidou graduated from the National University of Athens and obtained a master’s degree in finance and banking from the University of Piraeus.

She is a Certified Internal Auditor (CIA), holds the CRMA certification (Certification in Risk Management Assurance), is an expert in external assessment of internal audit quality according to IIA Standards, and holds a COSO certification in the application of the framework for internal control in companies.

THE PARTICIPATION FEE FOR CERTIFICATION IS €750 FOR MEMBERS OF THE INSTITUTE OF INTERNAL AUDITORS OF MONTENEGRO, WHILE FOR OTHERS, THE FEE IS €800.