Governance, Risk and Compliance
Code
014
Type
Classroom
Duration
5
Modules
6
Skill Level
Expert
Language
EN
Max
8
Certificate
Yes
Assessment
No
Compliance as a discipline was traditionally thought of as ensuring adherence to the many rules and regulations organisations face. But compliance is now about so much more: culture, ethics, advice – modern compliance really is at the heart of the business. Compliance is more than risk-reduction, it’s an ethical approach to business. As a professional in this field, you’ll set the standard for your employer, ensuring they’re ready for change – and agile enough to evolve.
Compliance professionals not only navigate a complex regulatory environment but also add a key commercial perspective. They enable the right business to be conducted in the right way and help firms achieve success by using systems and controls to ensure effective risk management.
Governance, Risk and Compliance training course includes discussions about board structure, committees, and their functions while covering the detailed process of managing risks as per the Committee of Sponsoring Organizations of the Treadway Commission (COSO) requirements. In addition, the course includes a discussion on internal controls that are used to respond to the risks in different areas of the corporation. Compliance is also covered per the latest developments.
At the end of the Governance, Risk and Compliance training course, you will be able to:
- Understand the concepts of governance, risk management and compliance (GRC)
- Understand the regulatory environment
- The reason for being governance is essential for effective regulatory compliance risk management
- Identify high-risk areas and compliance in your organization
- Apply Risk-based Approach
- The role of the compliance officer and his team
- Develop and implement a governance, risk management and compliance strategic plan
- Understand, define, and enhance organizational culture as it relates to performance, risk, and compliance
- Implement governance, risk management and compliance processes that are effective and efficient
- Using a risk-based audit approach
Governance, Risk and Compliance training course, is ideal for:
- Executives and Board Members
- Internal Auditors
- Compliance Officers / Managers and their Deputies
- Governance Professionals
- Risk Managers
- GRC Professionals
- Legal Professionals
- Regulatory Representatives
- Company Secretaries
- IT Professionals dealing with governance, risk management and compliance
- Managers responsible for governance, risk management and compliance activities
There are no specific requirements for this Course.
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 the 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 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