Regrettably, not all firms have this progressive look in the direction of this system. This program includes discussions regarding board structure, boards, and also their functions while covering the detailed procedure of managing threats as per the Board of Funding Organizations of the Treadway Payment (COSO) demands. Additionally, the training course includes a conversation on internal controls that are made use of to reply to the dangers in different areas of the corporation. Compliance is additionally covered per the latest developments.

Training Course Objectives of Advanced Governance, Danger and also Compliance

Specify corporate/public governance and also its relationship to risk administration and interior controls

Discuss the roles as well as duties of the various stakeholders in an exclusive or public company

Provide the functions of corporate/public governance and also distinguish in between the various models

Recognize the areas of danger management and also its inner as well as outside setting adjustments

Determine the correct controls to be carried out in various company cycles

Day 1
Overview of governance, risk management, and internal controls

• • Definition of corporate/public governance

  • The scope of corporate/public governance

  • Essential corporate/public governance principles

  • Code of conduct

  • The board of directors

  • The audit committee

  • Other committees

  Stakeholders in Corporate/Public Governance (CG)

  • Stakeholders

  • Shareholders rights

  • Directors’ duties and rights

  • Internal auditors and external auditors

  • Risk-based decision making

  • CG failure effects

  • The efficient board

Day 2
Functions of corporate/public governance

• Independence of the board

• Selection, remuneration, and evaluation of the board

• Analyzing the current organisation’s CG system

• Disclosure and transparency

Introduction to compliance

• Definition of compliance

• Importance of compliance

• Practical examples of compliance

• Risks of compliance

Day 3
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

Day 4
Risk management process per COSO guidelines

• Internal environment

• Objectives setting

• Event identification

• Risk assessment

• Risk response

• Control activities

• Information and communication

• Risk monitoring

Day 5
Implementing controls in business cycles

• Controls in the 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