Enterprise Risk Management and Internal Audit: Policies, Procedures and Controls Best Practices
Included in this package – STUDY TOUR Opportunity for key stakeholders to learn relevant, good development practice from their peers.
Building strong institutions resistant to corruption requires continuous effort and improvement. And as public sector organisations come under increasing pressures globally to reduce costs and improve accountability and performance, effective risk management and coordination with a strong internal audit function are critical to their success and survival. In this respect, robust and effective internal control systems and processes in the public sector are critical to making sure that governments are operating optimally, without waste or fraud, to deliver the policies and programmes that benefit citizens.
This course offers an overview of the elements of a successful integrated risk management approach by reviewing best practices in public sector risk management and Internal Audit, from the adoption of enterprise risk management to the implementation of standards issued by the Institute of Internal Auditors in the day-to-day operation of the internal audit.
Key Fundamental Concepts That Will Be Covered Include:
- What are the benefits of a coordinated, systematic approach to risk management?
- What is enterprise risk management and is it applicable to my organisation?
- Implementing an Integrated Risk Management Approach
- Writing and implementing policies and procedures
- What Controls, Checks and Balances need to be put in place
- The Processes and Systems and the Interface between Policies and Procedures
- How to structure the relationship between operational risk managers, the risk management function and internal audit
- How does the internal audit department add value to the organisation?
- Why do some internal audit departments fail to deliver effective assurance?
- How is the internal audit effectiveness measured – objectively and subjectively?
- What are the key standards for internal audit?
- Interface with Applicable Legislation and Regulations
- Accountability and Limits of Authority
Who Should Attend
- Legislators responsible for policy making in the public sector
- All C-Team Members responsible for decision making
- Managers with the responsibility for setting up risk management functions in the private, public and not-for-profit organisations
- Risk managers operating in the private, public and not-for-profit organisations
- Internal auditors operating in the private, public and not-for-profit organisations
- Qualified Internal Auditors and risk managers that needs a refreshing course
- Those returning to working in risk management or internal audit
- Line managers Responsible for the establishment and maintenance of a strategic management system
- Personnel within the public sector who need a better understanding on risk management and the internal audit role. Compliance Offficers