Course Details
Course Outline
5 days course
Overview of governance, risk management, and internal controls
- Definition of corporate governance
- The scope of corporate governance
- Essential corporate governance principles
- Code of conduct
- The board of directors
- The audit committee
- Other committees
Stakeholders in Corporate Governance (CG)
- Stakeholders
- Shareholders rights
- Directors’ duties and rights
- Internal auditors and external auditors
- Risk-based decision making
- CG failure effects
- The efficient board
Functions of corporate governance
- Independence of the board
- Selection, remuneration, and evaluation of the board
- Analyzing the current company’s CG system
- Disclosure and transparency
Introduction to compliance
- Definition of compliance
- Importance of compliance
- Practical examples of compliance
- Risks of compliance
Enterprise Risk Management
- Risk perception
- Why should we care about risk?
- Internal environment changes
- External environment changes
Risk Management areas
- Strategic
- Operations
- Reporting
- Financial
- Health and safety
Risk management process per COSO guidelines
- Internal environment
- Objectives setting
- Event identification
- Risk assessment
- Risk response
- Control activities
- Information and communication
- Risk monitoring
Implementing controls in business cycles
- Controls in the purchase and payment cycle
- Controls in inventory and costing cycle
- Controls in HR and payroll cycle
- Controls in sales and collection cycle
- Controls in fixed assets life cycle
