Auditing The Enterprise Risk Management Process

INTRODUCTION

Effectively managing enterprise risks is crucial for sustaining organizational resilience and success. This Auditing the Enterprise Risk Management Process course is meticulously designed to equip participants with alternative methods, tools, and structures necessary for establishing and evaluating an Enterprise Risk Management (ERM) framework. Through a hands-on approach, participants will engage in a workshop setting where they will apply learned techniques to a case study, using the most effective audit strategies, tools, and processes to evaluate and improve an ERM system.

COURSE OBJECTIVES

By the end of this Auditing the Enterprise Risk Management Process course, participants will be able to:

• Define and understand the key components of an ERM framework.
• Identify and assess risk events, including their probability and impact.
• Develop effective risk responses and monitor the ERM process on an ongoing basis.
• Integrate business risk management with internal control processes to enhance organizational resilience.
• Apply auditing techniques to evaluate the completeness, accuracy, and effectiveness of the ERM framework within their organization.
• Utilize a top-down, risk-based approach to establish and audit the ERM process effectively.
• Develop comprehensive audit reports that drive positive changes within the organization.

DURATION

1 Week

WHO SHOULD ATTEND

This Auditing the Enterprise Risk Management Process course is designed for professionals involved in risk management, auditing, and related functions, including:

• Internal Auditors
• Database Managers
• IT Managers
• Financial Controllers
• Database Administrators
• IT Personnel
• Business Analysts
• Professionals seeking to update their knowledge in Oracle Database Management in both public and private sectors.

COURSE CONTENT

Module 1: Defining the Key Components of ERM

• Understanding the foundation of ERM
• Identifying risk events and their potential impact
• Assessing risks based on probability and impact
• Developing and implementing effective risk responses
• Continuous monitoring of the ERM process to ensure its effectiveness

Module 2: Integrating Business Risk and Internal Control

• Understanding the concept of business risk and its implications
• Exploring the relationship between business risk and core business processes
• Developing strategies to integrate risk management with internal controls
• Utilizing Key Performance Indicators (KPIs) and baselines to monitor performance

Module 3: Auditing the ERM Process

• Auditing the risk organizational structure to ensure alignment with strategic goals
• Evaluating the completeness and coverage of the risk infrastructure
• Auditing the information flow within the ERM environment for timeliness, accuracy, and usefulness
• Assessing the effectiveness of communication channels within the ERM framework

Module 4: Auditing the Effectiveness of ERM in the Organization

• Establishing evaluation criteria for the success of the ERM process
• Auditing the ERM process to ensure it effectively precludes or minimizes risks
• Reviewing the maintenance and future strategic initiatives of the ERM framework
• Utilizing a top-down, risk-based approach to evaluate the overall ERM process

Module 5: Developing an ERM Audit Process

• Conducting risk assessments of the ERM environment
• Focusing the audit and establishing a clear audit scope
• Selecting the appropriate audit approach, tools, techniques, and strategies
• Creating effective audit reports that highlight key findings and recommendations for improvement

GENERAL NOTES

• This Auditing the Enterprise Risk Management Process course is delivered by seasoned trainers with extensive experience in their respective fields. The training includes a blend of practical activities, theoretical instruction, group discussions, and case studies.

• Participants will receive comprehensive training manuals and additional reference materials.
• Upon successful completion, participants will be awarded a certificate.
• We offer tailor-made courses to meet specific organizational needs. For more information, contact us at training@skillsforafrica.org.
• The training will be conducted at the SKILLS FOR AFRICA TRAINING INSTITUTE in Nairobi, Kenya.
• The training fee covers tuition, materials, lunch, and the training venue. Accommodation and airport transfers can be arranged upon request.
• Payment should be made to our bank account before the start of the training, with proof of payment sent to training@skillsforafrica.org.