PROGRAM SCHEDULE

Ref No: FI 134 Program Name: Governance, Risk & Compliance

Starts Ends Venue Fees Join Now
12 Jun 2023 16 Jun 2023 Dubai, UAE $ 4,750Registration Closed
06 Nov 2023 10 Nov 2023 Dubai, UAE $ 4,750Registration Closed
03 Jun 2024 07 Jun 2024 Harare, ZM $ 5,250
28 Oct 2024 01 Oct 2024 Dubai, UAE $ 4,750

PROGRAM DETAILS



Introduction

Globally, businesses continue to face challenges and risks associated with dynamic economic and market environments. This promotes a continual assessment of the adequacy and effectiveness of internal control structures that are designed to manage the associated risks. Stakeholders in business also continue to demand more accountability in organizational governance structures whilst ensuring business sustainability. To address the complex external and internal influences, businesses need to ensure a balance between governance, risk management and compliance.

An integrated organizational approach promotes appropriate risk identification and the collation of information for decision-making at the highest levels, with audit committees demanding insight into business risks and compliance obligations, how these are being managed and assurance over the key business risks. Viewed at a strategic level, GRC can enable information provision that supports organizational performance and adaptability within increasingly changing markets.

Many organizations continue to face difficulty arising from fragmentation across risk, compliance and assurance activities that are integral to the GRC environment. A common approach to risk identification and assessment that is driven from a strategic level ensures an effective approach to GRC that is aligned to the organizational strategy.

Training Methodology

We will rely on a variety of training and facilitation methods and techniques. Used whenever applicable, these methods are aimed at enhancing individual and group interaction while maximizing learning. Some of these methods are:

  • Brief presentations by the consultant.
  • Group debriefs.
  • Individual and team exercises.
  • One-to-one and group discussions.
  • Case studies, simulations and small projects.
  • Individual action plans (to follow up and evaluate training results).

Learning Objectives

By the end of the course, participants will be able to:

  • Define corporate governance and its relation to risk management and internal controls
  • Discuss the roles and responsibilities of the various stakeholders in a private or public organization
  • List the functions of corporate governance and differentiate between the various models
  • Identify the areas of risk management and its internal and external environment changes
  • Identify the proper controls to be implemented in various business cycles

Program Content

Module 1: Overview of governance, risk management and internal controls

  • Definition of corporate governance
  • The scope of corporate governance
  • Essential corporate governance principles
  • Code of conduct
  • The board of directors
  • The audit committee
  • Other committees

Module 2: Stakeholders in Corporate Governance (CG)

  • Stakeholders
  • Shareholders rights
  • Directors’ duties and rights
  • Internal auditors and external auditors
  • Risk based decision making
  • CG failure effects
  • The efficient board

Functions of corporate governance

  • Independence of the board
  • Selection, remuneration and evaluation of the board
  • Analyzing current company’s CG system
  • Disclosure and transparency

Module 3: Introduction to compliance

  • Definition of compliance
  • Importance of compliance
  • Practical examples of compliance
  • Risks of compliance

Enterprise Risk Management

  • Risk perception
  • Why should we care about risk
  • Internal environment changes
  • External environment changes

Risk management areas

  • Strategic
  • Operations
  • Reporting
  • Financial
  • Health and safety

Module 4: Risk management process per COSO guidelines

  • Internal environment
  • Objectives setting
  • Event identification
  • Risk assessment
  • Risk response
  • Control activities
  • Information and communication
  • Risk monitoring

Module 5: Implementing controls in business cycles

  • Controls in purchase and payment cycle
  • Controls in inventory and costing cycle
  • Controls in HR and payroll cycle
  • Controls in sales and collection cycle
  • Controls in fixed assets life cycle

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