Introduction
Governance and risk management are important topics that have recently begun to attract more attention in business colleges and among legislative bodies, and with the increase of this trend. There are various models of corporate governance and risk management, all of which aim to regulate the relationship between the company and its stakeholders and effectively manage financial risks. Most importantly, “effective governance, risk management, compliance and internal control” are all part of a single system. Unfortunately, not all companies have an advanced view of this system.
This workshop includes discussions on the structure of the Board and Committees and their functions with coverage of the detailed process of risk management as per the requirements of the Committee of Sponsoring Organizations of the Treadway Committee (COSO). In addition, the risk management workshop includes a discussion on the internal controls used to respond to risks in different areas of the company. Compliance is also covered according to the latest developments.
Objectives of Workshop Advanced Governance, Risk and Compliance (GRC)
- Definition of corporate governance and its relationship to risk management and internal controls
- Discuss the roles and responsibilities of the various stakeholders in the private or public organization
- Develop a list of corporate governance functions and differentiate between the different models
- Determine areas of risk management and changes in the internal and external environment
- Determine the appropriate controls to be implemented in the various business cycles
Workshop Advanced Governance, Risk and Compliance (GRC) Outlines
Day 1
An overview of governance and the importance of risk management and internal control
- What is governance? Definition of corporate governance
- Scope of corporate governance
- Basic corporate governance principles
- Code of Conduct
- Board of Directors
- Review Committee
- Other committees
Day 2
Stakeholders in Corporate Governance (CG)
- Stakeholders
- Shareholders' equity
- Duties and rights of directors
- Internal and external auditors
- Decision making based on risk
- Effects of CG failure
- Effective painting
Corporate governance functions
- Board independence
- Selection, reward and evaluation of the board of directors
- Analysis of the current corporate governance system
- Disclosure and transparency
Day 3
Introduction to Compliance
- Definition of compliance
- The importance of compliance
- Practical examples of compliance
- Compliance risk
Enterprise risk management
- Risk perception
- What are the objectives of risk management?
- Why should we care about risks?
- Changes in the internal environment
- Changes in the external environment
Areas of risk management
- Risk management strategy
- Operations and risk management plan
- Reporting and reports
- Financial issues
- Health and safety
Day 4
Risk management process according to COSO guidelines
- Indoor environment
- Setting goals
- Event identification
- Risk assessment
- Risk response
- Control activities
- Information and contact
- Risk control
Implementation of controls in business cycles
- Controls in the purchase and payment cycle
- Controls in cycle inventory and cost
- Controls in human resources and payroll cycle
- Controls in the sales and collection cycle
- Controls in the life cycle of fixed assets
Day 5
The final workshop
- How to apply this in work and organization; What works and what doesn't? And why?
- Best practices and latest updates
- Case studies, success stories and failure stories
- Modern application through information technology, software and/or mobile applications
- Post the three most recent book titles in this field
