Auditing Corporate Governance
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Auditing Corporate Governance Course
Introduction:
Corporate Governance has emerged as a critical subject in the business landscape, attracting significant attention and interest. It is not only a regulatory necessity but also a catalyst for business success. However, it is essential to evaluate whether your organization's Corporate Governance activities are delivering optimal value. If you haven't assessed this vital aspect, it is likely that your Internal Audit team has not addressed it yet.
The audit approach towards Corporate Governance is of utmost importance, as it provides the Board and the Audit Committee with comprehensive assurance regarding this strategic business process. To equip you with the necessary skills and knowledge to conduct audits in this complex and expansive field, we offer the Auditing Corporate Governance training course. This course encompasses all the essential tools and techniques required to effectively audit Corporate Governance. By participating in this training, you will gain insights into the best practices and ensure compliance with relevant regulatory requirements. It empowers you to enhance your organization's Corporate Governance practices and achieve excellence in this critical area.
Course Objectives:
After completing this training course on Auditing Corporate Governance, you will be able to:
- Audit the risk management process
- Meet stakeholder expectations regarding Corporate Governance (CG)
- Assess the effectiveness of business continuity planning
- Assist the Audit Committee in their Corporate Governance (CG) role
- Assess sustainability and environmental governance
- Audit joint ventures and partnerships
Who Should Attend?
This training course is suitable for a wide range of professionals but will greatly benefit:
- Lead Auditors
- Senior Auditors
- Audit Managers and those about to be appointed to that role
- Assurance providers that need a greater understanding of Corporate Governance
- Managers needing a broader understanding of how to review Governance maturity
Course Outlines:
The Corporate Governance Requirements
The Key Aspects of Corporate Governance
- What is Corporate Governance?
- 6 Core Principles of Governance
- The Governance Warning Signs
- New Corporate Governance Insights Paper will be Shared
- Auditing Corporate Governance – new guidance
- Meeting Stakeholder Requirements
- How the organization is managed on behalf of the stakeholders?
- The Key Parties within Governance
- Audit Committee
- The Board
- Regulators
- Customers
- Suppliers
- A New Governance and Accountability Tool will be Shared
- Developing a Terms of Reference for the Assignment
- A New Audit Program will be Shared
- New Guide on IA Standard 2120
- Corporate Governance Statements
Governance Assessment Techniques
- COSO Advisory Paper – improving organizational performance and Governance
- Governance and Strategy
- Governance Models
- Codes of Governance Requirements
- Financial Reporting Implications
- International vs. National Governance Criteria
- The 3 Lines of Defense
- Who should cover what?
The Business Environment
- The Standards, Processes, and Structures
- The Tone at the Top Regarding the Importance of Internal Control
- Expected Standards of Conduct
- Management Reinforcement of Expectations across the Organization
- The Integrity and Ethical Values of the Organization
- The Governance Oversight Responsibilities
- The Assignment of Authority and Responsibility
- The Process for Attracting, Developing, and Retaining Staff
- Establishment of Performance Measures, Incentives, and Rewards
Analyzing and Assessing the Effectiveness of Governance Controls
- Business Process Analysis Techniques
- Process Objectives and Risk
- The Need to Understand the Business Objectives
- Developing a Program to Reflect these Objectives
- Defining and Measuring Strategic Objectives
- Determining Process Components
- The Link between Objectives and Risk
- The Link between Risks and Controls
- Process and Business System Controls
- The Link between Inputs and Outputs
- Trigger Events
Preparing for the Governance Audit
Scoping a Governance Audit
- Governance Structure
- Reporting Lines
- Strategy and Risk Appetite
- Leadership and Culture
- 3 Lines of Defense Process
- Communication with Regulators
- Escalation
- Delegated Authorities
- Whistleblowing
- Accountabilities
- Data Integrity
- Commitment to Governance
- Policies
The Need for Governance Audit of the Board
- The Key Role of the Board in Governance