Course Methodology

This course is built on presentations by the instructor and the participants and includes exercises and case studies to be discussed during the training sessions.

Course Objectives

By the end of the course, participants will be able to:

• Advise on developing a board structure that includes executives, non-executives, and independent members with varied experience
• Obtain knowledge of the roles of committees on board of directors
• Assist in establishing the policies to be approved by the board
• Support the creation of a successful risk management function based on COSO
• Contribute to advancing compliance in the organization by utilizing ISO requirements

Target Audience

Board members, chief financial officers, senior management, directors, finance managers, financial controllers, accounting and finance personnel, legal counsel, corporate legal advisors, corporate secretaries, lawyers, external and internal auditors, HR managers, employees in GRC departments, and department heads.

Target Competencies

• Advising on the GRC system
• Advising on the structure of the board of directors
• Establishing board committees
• Advancing board policies
• Improving risk management functions
• Expanding compliance functions

The Board of Directors

• Stakeholders' definition
• Directors' duties
• Risks of governance failures
• The efficient board
• Capital Market Authority (CMA) definitions on board membership
• CMA on non-independence of board members

Board Committees

• Audit committee
• Nomination committee
• Remuneration committee
• Risk and compliance committee
• Ethics and CSR committee
• Governance committee
• Executive committee
• Investment committee

Policies Approved by the Board

• Anti-discrimination
• Anti-harassment and anti-bullying
• Anti-fraud and anti-corruption
• Conflict of interest
• Nomination, succession planning, and remuneration
• Risk management and compliance
• Financial reporting and audit
• Investments and asset management

Risk Management

• Risk management definitions
• Risk management process
• COSO ERM process
• Control activities
• Institute of Internal Auditors (IIA) on control activities
• Risk management categories
• Fraud Risk

Compliance Success Factors

• Definition of compliance
• Implementing a compliance program
• ISO 19600 compliance management
• Causes of compliance program failing
• Results of compliance failures