TRAINING COURSE: Internal Audit Role in Governance and Risk Management

Corporate Governance, how to enforce it practically?

• Mechanisms, Processes & Relations by which corporations are controlled
• Difference between Executive and Non-Executive Board Members
• Board’s Committees: Roles and Responsibilities
• Role of Audit Committee / Risk Management Committee
• Remuneration Committee: A Sensitive Role
• Five Steps to Improve Corporate Governance

Internal Audit and Corporate Governance

• The organizations responsibility and accountability to stakeholders
• Distinguishing between winding up, insolvency, bankruptcy, receivership and administration
• Legal obligations of the organization to its stakeholders
• Integrity and ethical behaviour: Disclosure and Transparency

The Evolution of Internal Auditing towards Risk-based Internal Auditing

• What is Risk-based Internal Auditing?
• The Transition from System-based to Risk-based Internal Auditing
• Different Approaches to Internal Auditing
• Risk-Based Audit Approach
• Risk-Based Audit Methodology
• How and why audit units move into risk based audit programs?
• Audit the Control Environment

Risk-Based Internal Audit Plan

• Determination of Internal Auditing Universe
• Risk Mapping
• Risk Registration
• Developing Internal Auditing Plan
• Preparation of a Clear Plan to be Approved by Audit Committee
• Efficiency in the Non-recurrence of Audit Notes
• Audit References to Policies and Manual of Operational Rules & Regulations
• Identification and Classification of Audit Risk

Internal Audit and Risk Assessment & Management

• Definition, Responsibilities and Goals
• Risk Assessment and Management Methodology
• Surveying for Threats & Assessing Vulnerabilities
• Risk Tolerance and Residual Risk
• Designing Controls for Risk Mitigation-Self-Assessments
• Review Design and Auditor Selection
• Program Development / Computer-assisted Auditing Techniques