Advanced Risk Management & Internal Audit Program

In the realm of modern corporate governance, the imperative to adeptly manage risks stands as a cornerstone for sustaining effective governance structures and robust internal control systems. Central to this landscape, internal audit assumes a pivotal role in furnishing assurance that organizational risks are prudently overseen. Through the lens of risk-based auditing, internal audit functions are seamlessly integrated into an organization's overarching risk management framework.

This specialized program is meticulously curated to empower participants with the expertise required to craft an audit universe and devise risk-centric internal audit strategies. Delving into cutting-edge risk management domains, the course delves into nuanced topics such as governance risk, strategic risk, fraud risk, IT risk, and the intricacies of auditing the risk management continuum.

Geared towards seasoned internal audit professionals and audit managers, this program serves as a conduit for honing existing knowledge and elevating one's value proposition within the organization through the formulation of dynamic risk-based audit plans tailored to address emergent organizational risks.

Program Objectives

Decode the fundamentals of corporate governance principles.
Articulate the symbiotic relationship between governance tenets and COSO frameworks.
Illuminate the interconnectedness of governance, risk, and control dynamics.
Identify and navigate the landscape of strategic risk audits.
Explore the nuances of strategy process audits.
Unravel the complexities of fraud typologies.
Scrutinize anti-fraud frameworks and the pivotal role of risk assessment.
Engage with IT risk assessment frameworks and the realm of cybersecurity, information security, and IT governance risks.
Assess enterprise risk management process risks through a holistic lens.
Apply comprehensive enterprise risk management evaluation methodologies.
Cultivate a robust auditable universe risk assessment framework.
Apply cutting-edge risk identification, measurement, and prioritization methodologies.

Program Highlights

Day 1:
Foundations of Risk Management

• Unpacking Risk Definitions and Management Frameworks
• Exploring Major Control and Risk Frameworks
• Criteria for Risk Management Assessment
• Delving into Corporate Governance Risks

Day 2:
Strategic Risk Landscape

• Strategic Insights and Definitions
• Strategic Risk: Conceptual Framework
• Internal Audit's Strategic Risk Considerations
• Navigating Strategy-related Audits
• Deep Dive into Strategy and Process Audits
• Demystifying Fraud Risk Assessment

Day 3:
Navigating Information Technology Risks

• Mapping the IT Risk Terrain
• Frameworks for IT Risk Assessment
• Internal Audit's Role in IT Risk Landscape
• Focus on Cybersecurity, Information Security, and IT Governance

Day 4:
Auditing the Enterprise Risk Management Process

• Internal Audit's Perspective on ERM Audits
• Evaluating Enterprise Risk Management Practices
• Embracing Maturity and Comprehensive Assessment Approaches

Day 5:
Crafting a Dynamic Risk-based Audit Plan

• Understanding Auditable Universe Attributes
• Risk Assessment Models and Criteria
• Sophistication Factors in Risk Assessment
• Techniques for Risk Identification, Measurement, and Prioritization