THE BAHAMAS INSTITUTEOF FINANCIAL SERVICES

The Corporate Governance and Financial Literacy programme is designed to equip candidates with the knowledge and practical framework to:

• Effectively oversee their organization

• Constructively engage with management to set and execute strategy

• Ensure the financial integrity of financial and other reporting systems

 

This course also develops financial literacy skills, enabling participants to understand and interpret corporate financial statements—including the Balance Sheet, Income Statement, Cash Flow Statement, and Statement of Shareholders’ Equity—so they can make informed decisions and strengthen governance practices.

 

Course Modules

1. Corporate Governance

• Definition of Corporate Governance

• Elements of the Process

• Directors’ Roles and Responsibilities

• Composition of the Board

• Sub-Committees

• Legal Liability

 

2. Financial Literacy

• Introduction to Accounting Concepts

• Accounting Principles & Equation

• Double Entry Bookkeeping

• Users of Financial Information

 

3. Reading & Understanding Financial Statements

• Income Statement

• Balance Sheet

• Cash Flow Statement

• Statement of Shareholders’ Equity

• Budgets and Forecasts

 

4. Audits & the Management Process

• Purpose of Audits

• Internal Audits

• External Audits

 

5. Internal Controls & Fraud Prevention

• Definition of Internal Controls

• Internal Control Procedures

• Role of External Audits

• Fraud Detection & Prevention

 

6. Risk Management

• Compliance

• Internal Audit Practices

 

7. Strategic Planning

• Mission

• Vision

• Values

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Course Assessment
Participants in the course will be assessed by:

• three-hour mid-term exam

• three-hour final exam.

• The passing mark for the course is 50% cumulative. 

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