Governance Risk Management and Compliance Training Course

Course 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

Course Outline

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

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

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

Risk management process per COSO guidelines

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

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