Fundamentals of Governance, Risk and Controls

Fundamentals of Governance, Risk and Controls

  • Country: United Arab Emirates

  • City: Abu Dhabi

START DATE: 18 Aug 2019

END DATE: 20 Aug 2019


  • COURSE TYPE: Variety Programs



Fundamentals of Governance, Risk and Controls

Programme Objectives

Basic understanding of Governance, Risk and Control

ü Understanding of the governance structure in their Company, the different assurance providers and their relationship to internal audit.

ü Understanding of the concept of governance, risk management and internal control frameworks and their applicability to internal audit

ü Understanding of the roles and responsibilities of management in the implementation of governance components, management of risk and establishment of internal controls within the organization.

ü Understanding of the different types of audit assignments in the ADNOC Group.

Couse Outlines

Overview of governance, risk management and internal controls

v Definition of corporate governance

v The scope of corporate governance

v Essential corporate governance principles

v Code of conduct

v The board of directors

v The audit committee

v Other committees

Stakeholders in Corporate Governance (CG)

v Stakeholders

v Shareholders rights

v Directors’ duties and rights

v Internal auditors and external auditors

v Risk based decision making

v • failure effects

v The efficient board

Functions of corporate governance

v Independence of the board

v Selection, remuneration and evaluation of the board

v Analyzing current company’s CG system

v Disclosure and transparency

Introduction to compliance

v Definition of compliance

v Importance of compliance

v Practical examples of compliance

v Risks of compliance

Enterprise Risk Management •Risk perception

v Why should we care about risk

v Internal environment changes

v External environment changes

Risk management areas •Strategic

v Operations

v Reporting

v Financial

v Health and safety

Risk management process per COSO guidelines

v Internal environment

v Objectives setting

v Event identification

v Risk assessment

v Risk response

v Control activities

v Information and communication

v Risk monitoring

Implementing controls in business cycles

v Controls in purchase and payment cycle

v Controls in inventory and costing cycle

v Controls in HR and payroll cycle

v Controls in sales and collection cycle

v Controls in fixed assets life cycle