COSO 2017 – Enterprise Risk Management

Course Outline

The workshop is aimed at all employees in the Municipal sector.  The course outline includes:

1. Understanding the concept of risk as defined by leading best practices i.e. COSO, ISO 31000 and KING IV requirements.
2. Corporate governance and risk, with a specific practical linkage to the COSO model.
3. Risks and roles of line managers, risk management and internal audit, as well as the oversight role of the audit committee.
4. Recognising the different types of risks, including financial, reputational, human resource and asset management risks.
5. The process of identification and assessment of risk, the plotting of risk on heatmaps, inherent versus residual risk.
6. Managing risk, risk management strategies available to management.
7. Reporting on risk to key stakeholders, including the role of the second line of defense in risk management.
8. Integrated risk management and a brief reflection on combined assurance.

Benefits of attending

The workshop will assist delegates to apply risk management in the daily running of their businesses.  The current economic climate and the pressures being part of the international economy influenced the growth rate of businesses in South Africa.  The delegate will learn how to identify and assess external and internal risks, how to design effective risk mitigation strategies and how to design controls to reduce overall risk to within the risk appetite of the business.

1. Learn how the business world applies risk management on a 365/24/7 basis;
2. Learn to identify and manage strategic risks and how to use the second line of defense effectively;
3. Learn to identify and manage operational risks, and how to apply risk appetite to risks;
4. Utilise the principles of the three lines of defense in mitigating risk and ultimately business failure;
5. Apply the different risk management strategies in the day-to day environment;
6. Link key controls to key risks to reduce the overall impact on the achievement of objectives;
7. Create a risk management process that can measure risk on a continuous basis; and
8. Analyse the risk reports and utilize information in future planning processes.

Training providers

Next Step Academy (Pty) Ltd has been appointed to deliver the workshop.  NSA is an accredited service provider with the Department Higher Education and Training with an excellent team of trainers and consultants providing education and training to middle and senior management from both private and public sector environments.

Deon van der Westhuizen has 30 years’ experience training locally and internationally.  He is associated with both the University of Stellenbosch and the Hugenote Kollege.  He developed, implemented and provided training material and training for the Institute of Internal Auditors, the School for Public Leadership, and his client portfolio includes listed companies in the banking, retail, mining and insurance fields.  He is co-owner of several business and until recently a project leader on an EU contract on the development of risk management frameworks. He qualified both as a CA(SA) and a CIA.