Combined assurance and risk management masterclass

Risk management has undergone many changes since COVID-19.  This training course builds on the November 2019 version and includes the latest KING IV guidance, the Institute of Directors guidance and the new three line model published by the IIA Inc.  It focuses on the new normal, emerging risks and the role that combined assurance can play to allow organizations to seize opportunities and challenge the achievement of their objectives.

How will this course benefit you?

On completion of the course, participants should:

• understand the failures of entities due to poor governance and risk
• understand the roles of the first, second and third lines of assurance.
• be able to perform a control risk self assessment
• have a thorough understanding of risk assessment, risk management and the interaction with internal audit.
• be able to develop a risk based audit approach.
• be able to evaluate and improve the risk management process.
• make recommendations to management for improvement.

• Why and how risk management has become pivotal in all industries today
• An integrated approach to Board oversight
• Discussing the key risk frameworks: COSO and ISO31000
• King IV’s requirements on risk management and its impact on internal auditors
• Applying a risk assessment to evaluate an organisation’s ethical climate
• A risk management maturity model
• The value proposition for ERM - value preservation versus value creation
• Core risk management process steps depicted and discussed
• Risk oversight structures and roles and responsibilities of key stakeholders
• Case studies on the integration of risk management and internal audit
• Why risk management initiatives fail
• How to embed risk management into the organisation
• Introduction to risk modelling and general quantification techniques
• Future risk management trends