Introduction
The fields of corporate and public governance, risk management, and compliance (GRC) have gained significant attention in recent years, becoming central topics in business schools and legislative discussions globally. These interconnected systems are crucial for fostering accountability, managing risks, and ensuring regulatory compliance.
This comprehensive course explores the definition of governance risk and compliance, highlights their strategic importance, and delves into practical tools and frameworks such as COSO guidelines and OECD standards. Participants will learn how governance risk and compliance technology can be leveraged to optimize business operations and maintain transparency across local governance and global governance structures.
This training is essential for professionals aiming to master the principles of information governance, strengthen internal controls, and adapt to evolving business environments.
Course Objectives
By the end of this course, participants will:
- Clearly understand what governance risk and compliance is and its role in modern organizations.
- Analyze the definition of governance and its various applications in global and local governance contexts.
- Explore the governance process and its integration with risk management and compliance frameworks.
- Learn about governance risk and compliance requirements and qualifications for implementing effective internal controls.
- Develop actionable strategies to address global risk and compliance challenges.
- Gain practical knowledge about auditing systems to ensure alignment with governance compliance meaning and industry standards.
Course Outlines
Day 1: Foundations of Governance, Risk Management, and Compliance
- Overview of governance risk and compliance training.
- Definition of governance: Principles and practical applications.
- Scope and purpose of corporate/public governance.
- Core principles of governance and risk management.
- Stakeholder roles in local governance certificate programs.
- Establishing an efficient board: Structure, duties, and audit committee functions.
- Lessons from CG failures and their implications for organizational resilience.
Day 2: Functions of Governance and Compliance
- Detailed examination of governance compliance in corporate settings.
- The role of transparency and disclosure in building stakeholder trust.
- Compliance risks and strategies to mitigate them.
- Defining and exploring what is risk and compliance in operational contexts.
- Case studies on effective implementation of governance plans.
Day 3: Enterprise Risk Management (ERM)
- Understanding risk perception and why risk management is vital.
- Analyzing changes in the internal and external environments.
- Application of governance risk and compliance meaning in organizational frameworks.
- Real-world examples of organizations managing global risk and compliance effectively.
- Best practices for aligning ERM strategies with evolving regulatory standards.
Day 4: COSO Risk Management Process
- Comprehensive understanding of the COSO risk management process.
- Key steps: Objective setting, event identification, and risk response planning.
- Integrating governance compliance technology for better risk monitoring and reporting.
- Communication strategies for fostering a culture of information governance.
Day 5: Implementing Controls Across Business Cycles
- Establishing internal controls for:
- Purchase and payment cycles.
- Inventory and costing processes.
- HR and payroll management.
- Sales and collection cycles.
- Fixed assets lifecycle management.
- Reviewing audit checklists to ensure alignment with governance compliance requirements.
- Tools for auditing and evaluating governance frameworks using global governance standards.
Why Attend this Course: Wins & Losses!
- Gain specialized knowledge in governance, risk, and compliance qualifications, ensuring career advancement in this critical field.
- Develop skills to navigate challenges associated with global risk and compliance effectively.
- Learn how to utilize governance risk and compliance technology to streamline operations and enhance transparency.
- Understand the roles of local governance and how to apply its principles to different organizational contexts.
- Build confidence in applying COSO guidelines and OECD standards to real-world scenarios.
Conclusion
The Governance, Risk, and Compliance (GRC) course is designed to empower professionals with the skills and knowledge necessary to excel in managing corporate governance, ensuring compliance, and mitigating risks. This course addresses critical elements such as local governance certificate courses, definition of global governance, and the integration of governance plans with business strategy.
By mastering the principles of governance compliance meaning and the applications of governance risk and compliance technology, participants will be well-prepared to lead their organizations toward success in an increasingly complex regulatory landscape.
