Aligning COSO Requirements with AI
This course provides participants with a comprehensive understanding of integrating COSO’s Enterprise Risk Management (ERM) framework with Artificial Intelligence (AI) technologies. It explores the governance, risk, and ethical considerations necessary to align AI development and deployment with organizational objectives. The course includes case studies of AI failures, the benefits and reputational risks of AI, and actionable insights for leveraging AI responsibly.
Course outcomes:
- To understand the COSO ERM framework and its relevance to AI governance and risk management.
- To explore ethical principles and governance frameworks for AI implementation.
- To analyze the benefits and risks of AI, including reputational and operational impacts.
- To study real-world case studies of AI failures for lessons and best practices.
- To equip participants with tools to align AI initiatives with organizational goals and risk appetite.
Key Benefits
- Enhanced understanding of COSO ERM requirements as applied to AI.
- Insights into ethical considerations and governance for responsible AI use.
- Practical tools for assessing and mitigating AI risks.
- Real-world examples of AI failures to highlight potential pitfalls.
- Strategies for maximizing the benefits of AI while managing reputational risks.
Day 1: Foundations of COSO ERM and AI Governance
Session 1: Introduction to COSO ERM and AI
- Overview of the COSO ERM framework.
- Key components of AI technologies and their applications.
- Aligning AI initiatives with organizational objectives using COSO.
Session 2: Governance Frameworks for AI
- Key AI governance frameworks: OECD AI Principles, ISO/IEC AI Standards.
- Integrating COSO with AI-specific governance models.
- Practical exercise: Mapping AI projects to COSO components.
Session 3: Ethical Considerations in AI
- Importance of ethics in AI development and use.
- Addressing bias, transparency, and accountability in AI systems.
- Group discussion: Ethical dilemmas in AI deployment.
Session 4: Risk Identification and Assessment in AI
- Latest global risks in AI, including data security and misinformation.
- Tools for identifying and assessing AI-specific risks.
- Case study: AI misuse in misinformation campaigns.
Session 5: Workshop
- Group activity: Identifying and mitigating risks for a hypothetical AI project.
- Peer feedback and expert guidance.
Day 2: Advanced Applications and Case Studies
Session 1: Case Studies of AI Failures
- Examples of AI failures and their impacts:
- Facial recognition errors in law enforcement.
- Biased algorithms in hiring processes.
- Chatbot reputational scandals.
- Lessons learned and preventive strategies.
Session 2: Reputational Risks of AI
- Understanding reputational risks associated with AI adoption.
- Mitigation strategies: Communication, transparency, and stakeholder engagement.
- Practical exercise: Designing a reputational risk response plan.
Session 3: Benefits of AI in Risk Management
- AI-driven predictive analytics and decision-making.
- Automating compliance and improving operational efficiency.
- Case examples: AI improving risk detection in financial services.
Session 4: AI and COSO in Practice
- Practical steps for aligning AI initiatives with COSO.
- Monitoring and reporting AI risks through COSO’s lens.
- Interactive exercise: Creating an AI governance roadmap.
Who should Attend?
- Executive and non-executive directors
- Chief Risk Officers and Risk Managers
- Heads of IT, Security, and Compliance
- Legal, Audit, and Governance professional
- Internal Auditors
Subscription price – R2 880 per person.
Normal price – R3 880 per person.
Group discounts apply for 3+ people from the same organization.
This course only R1750 per person.
Subscription price – R1000 per person – Unlimited access to our online courses.
Format: – Zoom, Teams, Google meet
Subscription fee of R1 000 gives access to all online learning in a calendar year and access to our Shaping Future Leaders sessions (minimum of 60 hours of online training) and minimum 10 Shaping Future Leaders sessions.
All sessions are hosted by professional specialists with at least 30 years’ experience in the GRC, ESG and AI space.
Unlimited access to the Centre of Excellence.
Delegates should review the content and levels of the course they are registering for to ensure suitability and that they are registering for the correct course. Payment: Full payment must be received 7 working days prior to the course.
Cancellations must be submitted in writing to admin@nsa.edu.za no later than 7 working days before the start of the training.
- A cancellation fee of R700.00 will apply for any cancellations received after this period.
- If a cancellation is received 3 working days or less before the training, the full invoice amount will be payable.
- Proof of payment must be emailed to admin@nsa.edu.za.za before the training date.
- Substitutions may be made at no additional cost.
Delegates will be personally liable for the payment of the full registration fee in the event of non-attendance or failure to cancel in writing prior to the deadline of 7 working days. Unless the registration was completed after the stated timeframe, the delegate must make prior arrangements with NSA.
NSA reserves the right to postpone, reschedule, or cancel any service due to insufficient enrolments or unforeseen circumstances. In such cases, a full refund or option to reschedule will be offered. NSA endeavours to host the specified training on the date as advertised. However, if unforeseen circumstances arise or due to extenuating circumstances out of our control, NSA reserves the right to cancel the training. NSA does not store credit card details, nor do we share customer details with any 3rd parties. NSA reserves the right to make changes to the training program and to refuse any booking.
No delegate will be permitted to attend the training without the following:
- A signed and approved Purchase Order,
- Proof of payment, or
- A Commitment Letter on the company’s official letterhead, acknowledging the invoice and confirming the payment date. This letter must be signed by a Finance, Procurement, or authorised official responsible for final payment approvals.
All payments must be received before the training starts and no later than 7 working days prior to commencement. In the case of late registrations, special arrangements must be made with the relevant NSA representatives.
Dietary Requirements: (This only applicable to In-Person Attendance) – Dietary requirements received 3 days prior to the commencement of training can be accommodated.