Training and Development

As the professional internal auditors in South Africa, nobody understands the challenges you face like we do. We know it’s a complex and fast evolving field and we also know what good internal audit looks like. All our courses are mapped to the IIA’s competency framework and based on the latest standards and best practice. That means you’ll get the relevant skills and knowledge you and your organisation need. Our trainers are all specialists in their field. They combine academic expertise with hands-on experience in a range of sectors. They can also engage and translate theory and ideas into meaningful examples. Our courses focus on effective implementation, not just theory, so you’ll take away methodology and ideas you can apply to your own organisation. We constantly update our course content to reflect current thinking and best practice. If you’re looking for a more tailored approach to training, we can work with you to customise a course for your whole team and deliver it in-house, saving you time and money. 

Enterprise Risk Management - Understand Evaluate and Improve

About this Course


Risk has been the talk of every organization for nearly two decades with topics around risk awareness, risk mitigation, risk appetite, risk tolerance and enterprise risk management to name but a few. The conversational question that arises so often is “Why after such a long time, is our organizational risk management at such a low maturity level?”

 

Designed for internal auditors, managers and other professionals who deals with the complexities of ERM, this course aims to provide you with the ability to answer just that. It offers attendees fundamental insights into this function that will enable the analysis and evaluation of ERM from the initial design through to the implementation, management and the monitoring phases, at division/department level and enterprise wide level.

Internal Audit - From Infancy to Maturity

How will this course benefit you?

  • Internal Audit, the various role-players and their roles and responsibilities
  • Insight of the internal audit process and the requirements for a mature internal audit activity
  • Ability to Perform a Risk Based Audit
  • An overview of, and the practical implementation of the new IPPF
    • Planning thoroughly
    • Understand how to identify, evaluate, and document audit evidence
  • Fundamentals for communication and report writing

Performance Auditing - The what and how

  • Definition and why performance auditing is necessary
  • Scope and objectives of a performance audit
  • Strategic planning
  • From planning to Reporting
  • The 3 E’s – Economy / Efficiency / Effectiveness
  • Developing audit criteria
  • Audit evidence

Enterprise Risk Management - Understand Evaluate and Improve

Risk has been the talk of every organization for nearly two decades with topics around risk awareness, risk mitigation, risk appetite, risk tolerance and enterprise risk management, to name but a few. The conversational question that arises so often is “Why, after such a long time, is our organizational risk management at such a low maturity level?”

Designed for internal auditors, managers and other professionals who deal with the complexities of ERM, this course aims to provide you with the ability to answer just that. It offers attendees fundamental insights that will enable the analysis and evaluation of ERM, from the initial design, through to the implementation, management and the monitoring phases, at division/department level and enterprise-wide level.

Course Objectives

  • Obtain an understanding of Risk Management and the various roles and responsibilities of stakeholders (including internal audit)
  • Understanding your ERM environment
  • How to design an ERM policy/strategy/framework
  • Compare Risk Management Frameworks
  • Performing risk assessments, an integral part to the implementation process
  • How to manage a risk without being risk averse
  • Improve risk management and monitoring
  • Understanding the elements required to successfully evaluate ERM and provide value added insights into the program.

Course Topics

ERM Introduction and Overview

  • What is enterprise risk management?
  • Identify the roles and responsibilities within an organization.
  • Define the enterprise risk management environment.
  • Understand how an enterprise risk management program should be implemented in an organisation.

Your ERM Environment

  • Understand your environment and the factors impacting the organization
  • How to define risk appetite, tolerance and thresholds
  • Developing key risk indicators and key control indicators based on the risk appetite metrics
  • The roles and ownership for risk appetite

 ERM Frameworks

  • COSO ERM Framework (and proposed 2017 amendments and principles)
  • Outline of other ERM Frameworks

Performing Risk Assessments

  • A structured disciplined approach?
  • Obtaining buy in and input
  • Defining and identifying risks
  • Identify the key business and support functions of the organization
  • Define the risk factors
  • Understand the process for identifying risks (and the value of facilitated discussions)
  • Assessing Risks
  • Define the risk rating system
  • Compare risk factors
  • Standardize definitions and assign quantitative factors (Inherent risk)
  • Recording information
  • Responding to Risks
  • Managing the Risk without being risk averse
  • Mitigation vs. Management
  • Consider various risk reduction factors and identify optimal mitigations.
  • Re-assessment of risks (Residual risk)
  • Mitigation Adequacy

ERM Monitoring

  • A comprehensive look at ERM monitoring
  • How to design a range of more effective risk reports that support decision making at all levels of your organisation
  • Consider reporting from the point of view of stakeholders
  • Ongoing Monitoring Activities

Evaluate and Improve ERM

  • Building ERM into the Internal Audit Activity
  • Assessing the ERM system (Comprehensiveness and Maturity)