Design and implement effective financial controls

THE CENTER for Global Best Practices (CGBP), with Isla Lipana/PricewaterhouseCoopers, is holding a one-day seminar on “Best Practices in Financial Processes and Controls” on Oct. 25 at Edsa Shangri-La Hotel, Mandaluyong City.

Participants will learn the best practices in designing and implementing financial controls to safeguard assets, enhance integrity of financial reports and protect from business operational risks.

The program will feature a collection of the best practices of PricewaterhouseCoopers worldwide.

An inefficient and/or ineffective internal control system can give rise to fraud, theft, fake financial transactions and other business crimes.

Internal control has assumed greater importance following recent business scandals and the collapse of major corporations. The better private companies are investing more of their resources to strengthen their financial processes and controls.

Effective internal controls are crucial to a company’s operations. They can prevent losses in key areas like procurement, payroll, sales, cash disbursements and other business activities.

Experts say a business cannot expand and cannot be sustained if internal controls are not in order.

Principal lecturer for this program is Roderick Danao, certified public accountant and new vice chair of Isla Lipana/ PricewaterhouseCoopers. He was assurance, learning and education partner for five years, and audit methodology leader for seven years.

Danao has 20 years of experience in accounting, audit and business advisory practice, both in private and public companies locally and overseas.

Seats are limited so preregistration is required. Early bird and group discounts are available.

Check www.cgbp.org or contact CGBP at 5568968/69 or 02-8427148/59 (Manila), 032-5123106/07 (Cebu) or 074-4235148 (Baguio).