Governance, Risk and Compliance
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Governance, Risk and Compliance Course
Introduction:
Compliance, once seen as solely focused on ensuring adherence to rules and regulations, has evolved into a multifaceted discipline that encompasses culture, ethics, and providing valuable advice. Modern compliance is now at the core of business operations, going beyond risk reduction to embody an ethical approach. As a professional in this field, you play a pivotal role in setting the standard for your organization, ensuring preparedness for change and fostering agility.
Compliance professionals not only navigate the complexities of a regulatory landscape but also contribute a crucial commercial perspective. They facilitate responsible business practices and help organizations achieve success by implementing systems and controls that ensure effective risk management.
The Governance, Risk, and Compliance training course delve into various aspects, including board structure, committee functions, and the meticulous process of managing risks according to the requirements of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The course also covers internal controls, which are essential for mitigating risks across different areas of an organization. Additionally, the latest developments in compliance are discussed to keep participants up to date with the rapidly evolving landscape.
Join this comprehensive Governance, Risk, and Compliance training course to enhance your expertise in the field. Gain insights into board governance, risk management processes, and the implementation of internal controls. Stay informed about the latest compliance practices and ensure your organization is well-prepared to meet its regulatory obligations. By investing in your professional development, you will contribute to the ethical and sustainable growth of your organization and make a lasting impact in the field of compliance.
Course Objectives:
At the end of the Governance, Risk and Compliance training course, you will be able to:
- Understand the concepts of governance, risk management and compliance (GRC)
- Understand the regulatory environment
- The reason for being governance is essential for effective regulatory compliance risk management
- Identify high-risk areas and compliance in your organization
- Apply a Risk-based Approach
- The role of the compliance officer and his team
- Develop and implement a governance, risk management, and compliance strategic plan
- Understand, define, and enhance organizational culture as it relates to performance, risk, and compliance
- Implement governance, risk management and compliance processes that are effective and efficient
- Using a risk-based audit approach
Who Should Attend?
The governance, Risk, and Compliance training course, is ideal for:
- Executives and Board Members
- Internal Auditors
- Compliance Officers / Managers and their Deputies
- Governance Professionals
- Risk Managers
- GRC Professionals
- Legal Professionals
- Regulatory Representatives
- Company Secretaries
- IT Professionals dealing with governance, risk management and compliance
- Managers responsible for governance, risk management and compliance activities
Course Outlines:
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