9 Topics
5 Days
Programme Overview
Training Description
Who Should Attend
This course is designed for professionals responsible for evaluating and improving ERM within their organizations, including:
- Internal Auditors
- Risk Managers
- Compliance Officers
- Management involved in risk oversight
- Anyone seeking to understand and audit ERM
Session Objectives
- Evaluate ERM Frameworks
- Assess Risk Assessment Capabilities
- Audit Risk Responses
- Align ERM with Business Strategy
- Utilize Risk-Based Auditing
- Enhance Risk Reporting and Governance
About the Course
In today's complex and dynamic business environment, effective Enterprise Risk Management (ERM) is crucial for organizational success. This comprehensive training course on ERM Audit equips participants with the specialized knowledge and skills to evaluate ERM frameworks and processes. Participants will learn how to assess risk identification, assessment, response, and monitoring, enabling them to provide valuable assurance and recommendations to enhance ERM effectiveness and ensure alignment with strategic objectives. This course bridges the gap between ERM theory and audit practice, empowering participants to become strategic advisors in managing organizational risk.
Curriculum & Topics
9 Topics | 5 Days
-
Subtopic 1.1:
Defining ERM and its importance in achieving organizational objectives.
-
Subtopic 1.2:
The evolution of risk management from traditional approaches to ERM.
-
Subtopic 1.3:
Key principles and concepts of ERM.
-
Subtopic 1.4:
Benefits of implementing a robust ERM framework.
-
Subtopic 1.5:
Overview of ERM frameworks (COSO ERM, ISO 31000).
-
Subtopic 2.1:
In-depth exploration of the COSO ERM framework.
-
Subtopic 2.2:
Understanding the ISO 31000 risk management standard.
-
Subtopic 2.3:
Comparing and contrasting different ERM frameworks.
-
Subtopic 2.4:
Selecting the appropriate framework for an organization.
-
Subtopic 2.5:
Integrating ERM with other management systems.
-
Subtopic 3.1:
Risk identification methodologies (e.g., SWOT analysis, brainstorming, scenario planning).
-
Subtopic 3.2:
Risk categorization and classification.
-
Subtopic 3.3:
Qualitative and quantitative risk assessment techniques.
-
Subtopic 3.4:
Developing risk registers and risk profiles.
-
Subtopic 3.5:
Assessing the likelihood and impact of risks.
-
Subtopic 4.1:
Risk response strategies (e.g., avoidance, reduction, transfer, acceptance).
-
Subtopic 4.2:
Developing risk mitigation plans and controls.
-
Subtopic 4.3:
Evaluating the effectiveness of risk responses.
-
Subtopic 4.4:
Cost-benefit analysis of risk mitigation options.
-
Subtopic 4.5:
Contingency planning and disaster recovery.
-
Subtopic 5.1:
Establishing key risk indicators (KRIs).
-
Subtopic 5.2:
Monitoring risk levels and trends.
-
Subtopic 5.3:
Reporting on risk exposures and mitigation efforts.
-
Subtopic 5.4:
Using risk dashboards and reports for communication.
-
Subtopic 5.5:
Integrating risk reporting with performance reporting.
-
Subtopic 6.1:
The board's oversight of ERM.
-
Subtopic 6.2:
Senior management's responsibility for implementing ERM.
-
Subtopic 6.3:
Establishing a risk culture within the organization.
-
Subtopic 6.4:
Communicating risk information to the board and senior management.
-
Subtopic 6.5:
Accountability for risk management.
-
Subtopic 7.1:
Aligning ERM with strategic objectives.
-
Subtopic 7.2:
Considering risk in strategic decision-making.
-
Subtopic 7.3:
Integrating risk appetite and tolerance with strategic planning.
-
Subtopic 7.4:
Using ERM to enhance strategic performance.
-
Subtopic 7.5:
Measuring the effectiveness of ERM in achieving strategic goals.
-
Subtopic 8.1:
Developing an ERM audit program.
-
Subtopic 8.2:
Auditing risk identification, assessment, response, and monitoring processes.
-
Subtopic 8.3:
Evaluating the effectiveness of ERM controls.
-
Subtopic 8.4:
Testing ERM processes using various audit techniques.
-
Subtopic 8.5:
Documenting and reporting on ERM audit findings.
-
Subtopic 9.1:
The impact of emerging risks (e.g., cybersecurity, climate change) on ERM.
-
Subtopic 9.2:
Integrating data analytics and technology into ERM.
-
Subtopic 9.3:
Using scenario analysis and simulation for risk assessment.
-
Subtopic 9.4:
Developing a dynamic and adaptive ERM framework.
-
Subtopic 9.5:
The future of ERM and its role in organizational success
