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.
Understand the new normal as it relates to risk and opportunity, recovering and re-focus the business, using combined assurance in an effort to get all the role players involved.
The three lines model, and how it assists in achievement of objectives
• Audit committee responsibilities during times of crisis
• Process owners – new opportunities and risk management
• Risk management – challenging management to achieve objectives
• Role of auditors – assurance
Institute of Directors – what Boards should do in a time of crisis
• Key questions the Board of Directors should be asking.
• Foresight versus hindsight
• Going concern and liquidity
• Business continuity management