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Auditing the Enterprise Risk Management Process

ACI Learning
Course summary
3 days
1,833 USD excl. VAT
Professional Training
Next available date: 18/10/2021 06:00 - New York
Course Dates
Online courses
1,833 USD
21/11/2021

New York
1,833 USD
18/10/2021

Auditing the Enterprise Risk Management Process

Auditing the Enterprise Risk Management Process

This course will start with an overview of the Enterprise Risk Management process and all the underlying elements of an Enterprise Risk Management, including a discussion on risk appetite, governance, and roles & responsibilities. Once the Enterprise Risk Management fundamentals has been established, the course will provide more details into the attributes that make an Enterprise Risk Management process effective such as addressing black swans, using risk driven metrics as well as linking Enterprise Risk Management with the organization’s strategy. There will also be a discussion of Internal Audit’s role in the Enterprise Risk Management initiative. The majority of the course will involve methods for auditing the Enterprise Risk Management process by assessing the Enterprise Risk Management process according to the COSO framework which is comprised of 5 components and 20 principles. The 5 components include: 1) Governance & Culture 2) Strategy & Objective Setting 3) Performance 4) Review & Revision. The objective of the assessment procedures is to determine if the organization’s ERM process exhibits these 20 principles. There will also be a 33 discussion to address another risk management framework, ISO 31000. A summary of key highlights of ISO 31000 will be covered as well as comparing the commonalities and differences between the ISO risk management framework and the COSO risk management framework.

Suitability - Who should attend?

Audit directors and managers, risk officers, internal and external auditors, information technology auditors and operations managers

Prerequisites

 Risk School (OAR321) or equivalent risk assessment experience

Outcome / Qualification etc.

Completion of this course is worth 24 CPE Credits

Training Course Content

Enterprise Risk Management (ERM)

  • ERM Overview
  • Risk Appetite
  • ERM Governance
  • IA’s Role & Responsibilities
  • Black Swans
  • ERM Effectiveness
  • ERM Metrics
  • ERM and Strategy

COSO Principles

  • COSO — Overview
  • Exercises Board Risk Oversight
  • Establishes Operating Structures
  • Defines Desired Culture
  • Demonstrates Commitment to Core Values
  • Attracts, Develops & Retains Capable Individuals
  • Analyze Business Context
  • Defines Risk Appetite
  • Evaluates Alternative Strategies
  • Formulates Business Objectives
  • Identifies Risk
  • Assesses Severity of Risk
  • Prioritizes Risks
  • Implements Risk Responses
  • Develops Portfolio View
  • Assesses Substantial Change
  • Reviews Risk and Performance
  • Pursues Improvement in ERM
  • Leverages Information Systems
  • Communicates Risk Information
  • Reports on Risk, Culture and Performance

Provider: ACI Learning

ACI Learning

At ACI Learning, we train leaders in Cybersecurity, Audit, and Information Technology. Whether you're starting your IT career, mastering your profession, or developing your team, we're with you every step of the way. We believe that training is not a...


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Contact information for ACI Learning

ACI Learning

MIS Training Institute
30 Crown Place
EC2A 4EB London

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