Why is training considered important in internal controls?

Training is considered important in internal controls primarily because it equips employees with the understanding of their roles and responsibilities within the organization. When employees are well-informed about their specific functions in relation to internal controls, they can more effectively contribute to the prevention and detection of errors or irregularities. This knowledge helps to ensure that everyone within the organization is on the same page regarding procedures, expectations, and compliance requirements.

Additionally, training fosters a culture of accountability and awareness, which is essential for maintaining robust internal controls. When employees comprehend the significance of their actions in the context of risk management, they are more likely to adhere to established protocols and uphold the integrity of operations.

The focus on regulatory compliance, reduction of costs, and the complexity of control processes does not capture the fundamental value of employee training in building a responsive and responsible workforce that understands how its individual and collective actions contribute to the organization's risk management strategies.