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Face-to-face or online

Duration = 3 days

Why is this relevant?

Growing pressure on the efficiency and quality of operational processing continues to drive organizations towards digitalization and automation. Increasing investments in robotics, machine learning, artificial intelligence and advanced analytics is driving a new form of
business transformation that is commonly referred to as Industry 4.0.

Key drivers and benefits of digitalization include:

  • The increased level of information and transparency achieved through the digitalization of processes. This provides additional context by constructing a virtual copy of the physical production environment to assist management in decision-making.
  • The ability of machines and systems to interface and exchange information without human intervention.
  • The decentralization of decision-making achieved through delegating simple, repetitive decisions to robotics and machine learning systems.

However alongside the significant benefits, challenges will inherently arise due to the rapid pace of change. Some of these include:

  • Ensuring adequate data protection with regard to intellectual property and production knowledge
  • Maintaining production quality with reduced human supervision
  • Skill shortage of experienced personnel to implement and operate highly automated processes

OTHER RELEVANT COURSES

  1. Digitalization, Industry 4.0 & the Internet of Things
  2. Cloud computing
  3. Protection of private information
  4. Cyber security
  5. Business continuity and crisis response
  6. Net working capital management
  7. Non-GAAP financial measures
  8. Data analytics and mass data usage
  9. Treasury management
  10. Organization-wide initiatives/projects
  11. Effective talent management
  12. Trade environment and customs
  13. Alignment of operations to organization’s strategy and objectives
  14. Compliance Management Systems (CMS), auditing organization culture and ethics
  15. Effectiveness and efficiency of operational processes
  16. Public entities and public, private partnerships
  17. Integrated enterprise risk management and monitoring
  18. IT governance
  19. Outsourcing and managing third-party relationships
  20. Capital expenditure programs, refinancing of long-term financial debt

Objectives

Assess whether the objectives and business plans for digital transformation have materialized and organizations are realizing the benefits.

Assist organizations in the design, implementation and assessment of appropriate governance and control frameworks over digital processes and systems.

Use the risks and findings identified in Internal Audit reports to drive the digitalization/Industry 4.0 agenda and outline opportunities for process automation.

Utilize the greater availability of information to conduct audit procedures that provide a higher level of assurance and insights.

New skills

Subject-matter expertise of upcoming developments and latest technology with respect to automation and digitalization.

Sound understanding of the process to identify, assess and mitigate risks associated with digitalized processes.

Expertise in change management and transformation.

Expertise in general IT controls such as data access, integrity, change protocols and security.

Expertise in data analytics including data extraction, data processing and compiling insightful reports

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