Course Methodology
The course is based on detailed explanations by the instructor and presentations by both the participants and the instructor. It also includes several case studies related to different industries and business areas.
Course Objectives
By the end of the course, participants will be able to:
- Explain the essentials of Enterprise Risk Management (ERM)
- Improve Risk-Based Decision Making (RBDM)
- Enhance the control environment
- Identify risks in different organizational areas
- Control risks using different tools
- Apply risk management processes in the organization
Target Audience
Managers, senior managers, directors, executives, financial controllers, senior accounting and finance personnel, and auditors.
Target Competencies
- Monitoring and controlling risks
- Analyzing and assessing risks
- Advising directors on risks
- Controlling risks
- Mitigating risks
- Reporting risks
- Applying risk management
Introduction
- Risk perception
- Why we should care about risk
- Internal environment changes
- External environment changes
- ERM definitions
Risk Management and Corporate Governance
- Definition of Corporate Governance
- Scope of Corporate Governance
- Governance Risk and Compliance
- COSO ERM Cube
- Risk-Based Decision Making
Risk Management and Corporate Control Environment
- Corporate environment
- COSO ERM process
- Risk management effect on designing internal controls
- Effects of the external environment
- Risk-Based Internal Audit
ERM Evolution
- Risk Management history
- Objectives of Enterprise Risk Management
- Different risk types
- Risk identification
- ERM classifications
Risk Categories and Control Tools
- Strategic risks
- Reporting risks
- Compliance risks
- Operating risks
- Control Tools
Implementing ERM Process
- Internal environment
- Objectives setting
- Event identification
- Risk assessment
- Risk response
- Control activities
- Information and communication
- Risk monitoring
