PROGRAM DETAILS

Introduction

 The primary objective of this five-day training program is to provide participants with an in-depth understanding of the best practices for Audit Committees. The role of an Audit Committee is essential in ensuring the accuracy and integrity of financial reporting and the effectiveness of the internal control system of an organization. In today’s complex business environment, where risks are increasing, and regulations are becoming more stringent, it is crucial for Audit Committees to have a clear understanding of their role and responsibilities.

Through this program, participants will learn about the key responsibilities of an Audit Committee, including overseeing the audit process, reviewing financial statements, and ensuring compliance with relevant laws and regulations. They will also gain practical skills in assessing internal controls and financial reporting.

Effective governance, risk management, and communication are critical for the success of Audit Committees. Therefore, the program will also cover best practices for these areas. Participants will have the opportunity to engage with experienced practitioners in the field and share best practices and experiences.Bottom of Form

Learning Objectives:

•  Understand the role and responsibilities of an Audit Committee
• Learn best practices for effective governance and risk management
• Understand the importance of communication and transparency in an Audit Committee
• Gain practical skills in assessing internal controls and financial reporting
• Develop an action plan to implement best practices in Audit Committee operations.

Training Methodology:

The program will consist of a mix of interactive lectures, case studies, group discussions, and exercises. Participants will have the opportunity to engage with experienced practitioners in the field and share best practices and experiences. 

Target Audience:

The program is designed for members of Audit Committees, including board members, internal auditors, external auditors, and senior managers.

Program Contents:

Day 1: Introduction to Audit Committees and Governance Best Practices

• Introduction to the role and responsibilities of Audit Committees
• Overview of governance best practices for Audit Committees
• Case studies and group exercises on effective governance

Day 2: Risk Management and Internal Control Best Practices

• Overview of the importance of risk management for Audit Committees
• Introduction to internal control frameworks and their application to Audit Committees
• Case studies and group exercises on assessing internal controls

Day 3: Financial Reporting Best Practices

• Introduction to financial reporting and auditing standards
• Overview of financial statement fraud and detection
• Case studies and group exercises on reviewing financial statements

Day 4: Communication and Transparency Best Practices

• Importance of effective communication and transparency in an Audit Committee
• Overview of reporting requirements for Audit Committees
• Case studies and group exercises on communicating with stakeholders

Day 5: Implementing Best Practices in Audit Committee Operations

• Review of best practices covered in the program
• Developing an action plan for implementing best practices
• Final group exercise and program evaluation.