May 16
Internal Financial Controls
19 May - 20 May
Tata Management Training Centre, 1, Mangaldas Road, Pune 411001
The Companies Act, 2013 introduced the concept of “Internal Financial Controls” in the context of Indian companies. The Companies Act, 2013 and The Companies (Accounts) Rules 2014 have together cast specific
responsibilities on the Board of Directors, the Audit Committee of the Board and the Statutory Auditors to establish, examine and test the adequacy of internal financial controls and the operating effectiveness
of such controls.
Programme Director
Mr. Shantanu Gokhale
This program will help participants to
  • Familiarize participants with Internal Financial Controls and Internal Controls over Financial Reporting  
  • Provide practical, hands-on training to develop an Internal Financial Controls Framework in the context of the Companies Act, 2013.
  • Provide roadmap for ongoing sustainability of the IFC/ICFR framework and for deriving organizational value from the exercise.
Day 1:
Session I- Evolution, Scope and Applicability
Session II-  Corporate Governance, Tone at the top and Entity Level Controls (ELCs)
Session III- Establishing materiality Identifications of Processes and Sub-Processes
Session IV-  Process Flow Diagrams/Narratives 
                 Analysis of Risks and Controls

Day 2:
Session V-  Documenting Risk Control Matrix (RCMs)
Session VI-  Controls Testing – Test of Design
Session VII-  Controls Testing – Test of Operating Effectiveness
Session VIII-  Concluding Session – Feedback
The program will be conducted in an interactive manner. The concepts will be explained in simple, non-technical terms. The regulatory requirements will be explained in terms of the spirit of the law with a
view to empower and encourage the participants to embrace the regulatory change with ease and eagerness. The workshop will involve hands-on sessions and group activity for the participants.
Himanshu Kishnadwala
Qualifications: B. Com, FCA, Diploma (Computer Management)
Mr Himanshu Kishnadwala, Partner, CNK&Associates, LLP, Chartered Accountants, is a founder partner of the Firm. A rank holder at both the Intermediate and Final Chartered Accountancy examinations, he has been in continuous practice since 1985. Mr. Kishnadwala oversees the audit and assurance practice of the firm, particularly audit of large corporates, due diligence assignments and conversion of financial statements from Indian GAAP to IFRS and US GAAP.
Mr. Kishnadwala has been the President of the Bombay Chartered Accountants' Society in 2006-07, and is a member of the Board and Chairman of Audit Committee of listed companies. Mr. Kishnadwala has also been a full-time senior lecturer in accountancy and computer systems with Narsee Monjee College of Commerce & Economics for fifteen years (i.e. from 1986 to 2001). He has held the position of the Chairman of the Accounting & Auditing Committee of the Bombay Chartered Accountants Society for several years, and is a member of the Accounting Standards Committee of the Indian Merchants Chamber.
Mr. Kishnadwala has authored various popular text-books on accountancy, financial management and taxation for commerce under-graduates, and a book on “Mandatory Accounting Standards – From Published Accounts”. He regularly delivers talks and presents papers on accounting and auditing subjects at seminars and conferences all over India organised by various professional bodies, such as the Institute of Chartered Accountants of India, Institute of Company Secretaries of India, Institute of Cost andWorks Accountants of India (just to name a few). He has also delivered talks at the National Academy of Direct Taxes. Besides this, he contributes a monthly column to the BCAJ, and articles to various professional journals and other publications.

Nandita Parekh
Ms. Nandita Parekh, Partner, CNK & Associates, LLP, Chartered Accountants, she specialises in Internal
Audit and related advisory services. Her industry focus extends to Shipping & Logistics, Banking and Financial Services, Engineering, Real Estate Services and Healthcare Services.
Ms. Parekh has been associated with the Bombay Chartered Accountants' Society for more than a decade in various capacities – as a member of the Managing Committee from 2005 to 2015, as an Honorary Treasurer for the year 2009-10 and as a Co-Chairman of the 4i & Infotech Committee for the year 2014-15.
Ms. Parekh holds the distinction of being the first lady candidate to top the final Chartered Accountancy Examination in 1983. A rank holder throughout her academic career, she has pursued MBA from the USA. She is a regular speaker at professional seminars and has presented papers at regional and national conferences. She has done pioneering work to support women professionals in advancement of their professional careers.
In the past year, Ms Parekh has conducted several assignments of guiding companies in assessing and strengthening their internal financial controls over financial reporting (ICFR). She has been a regular faculty on the subject of “Internal Controls over Financial Reporting” at seminars held by the ICAI and by the Bombay Chartered Accountants' Society.

Middle-level and senior-level executives from the Corporate Finance and Internal Audit Teams, Risk and Compliance Teams and Company Secretaries.

Rs. 42,000/- (Forty Two Thousand only) per participant plus taxes as applicable.
This is a residential program and the fee includes course fee, cost of instructional material/program kit, food and shared accommodation (on single occupancy basis) for
participants. Full participant fee (plus applicable taxes) is payable against pro-forma invoice which will be sent upon receipt of nomination(s).

Cancellation Policy
Cancellation more than 20 days prior to the start of the program will be accepted at no charge. Cancellations 10-20 days prior to the program will be subject to a payment of 50% of the program fee (plus applicable taxes), and cancellations received less than 10 days prior to the program start date will be subject to payment of 100% of the program fee (plus applicable taxes).
Please Note: All cancellations must be confirmed via email to the program coordinator.