Audit, Risk, and Internal Controls for Executives Training Course

Introduction

In today's dynamic and interconnected business environment, strong governance, effective risk management, and robust internal controls are paramount for organizational resilience and sustainable growth. This intensive 5-day training course is specifically designed for executives and senior leaders who need to grasp the critical interplay between audit, risk, and internal controls to safeguard assets, ensure compliance, and drive strategic objectives. Learn how to establish an integrated governance framework that empowers your organization to navigate uncertainties and seize opportunities with confidence.

This program provides a comprehensive understanding of how to effectively oversee risk management strategies, interpret audit findings, and champion a strong control environment across all levels of the organization. By mastering these essential governance pillars, participants will be equipped to make more informed decisions, mitigate potential threats, enhance operational efficiency, and ultimately build a culture of accountability and integrity that propels their organizations forward.

Duration: 5 Days

Target Audience

  • Board Members and Directors
  • CEOs and C-Suite Executives (CFOs, COOs, CIOs)
  • Senior Managers and Department Heads
  • Audit Committee Members
  • Risk Management and Compliance Leaders

Objectives

Upon completion of this course, participants will be able to:

  • Understand the fundamental concepts of audit, risk management, and internal controls.
  • Identify and assess key risks facing their organizations.
  • Design and implement effective internal control systems.
  • Interpret audit reports and leverage audit findings for continuous improvement.
  • Lead and champion a strong governance framework within their organizations.

Course Modules

Module 1: Introduction to Governance, Risk, and Compliance (GRC)

  • Defining Governance, Risk Management, and Internal Controls
  • The Interrelationship and Importance of GRC in Modern Organizations
  • The Role of the Board and Executive Management in GRC Oversight
  • Regulatory Landscape and Compliance Requirements
  • Establishing a Framework for Integrated GRC

Module 2: Fundamentals of Risk Management for Executives

  • Understanding Different Types of Organizational Risks (Strategic, Operational, Financial, Compliance, Reputational)
  • The Risk Management Process: Identification, Assessment, Mitigation, Monitoring
  • Developing an Enterprise Risk Management (ERM) Framework
  • Risk Appetite and Tolerance: Setting the Right Boundaries
  • Risk Culture: Fostering Risk Awareness Across the Organization

Module 3: Designing and Implementing Effective Internal Controls

  • Principles of Internal Control (e.g., Segregation of Duties, Authorization, Reconciliation)
  • COSO Internal Control – Integrated Framework Explained
  • Controls for Financial Reporting Integrity
  • Operational Controls for Efficiency and Effectiveness
  • Controls for Information Technology and Cybersecurity

Module 4: The Role and Value of Internal Audit

  • Understanding the Mandate and Scope of Internal Audit
  • Different Types of Internal Audits (Financial, Operational, Compliance, IT)
  • The Relationship Between Internal Audit and Executive Management
  • Leveraging Internal Audit Findings for Business Improvement
  • Ensuring Independence and Objectivity of Internal Audit

Module 5: External Audit and Stakeholder Assurance

  • The Purpose and Scope of External Audit
  • Understanding Audit Opinions and Reports
  • Engaging Effectively with External Auditors
  • Responding to Audit Findings and Management Letters
  • Assurance Beyond Financials: Sustainability and ESG Audits

Module 6: Monitoring and Reporting on Controls and Risks

  • Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) for Controls
  • Developing Effective Risk and Control Dashboards
  • Reporting to the Board and Audit Committee
  • Continuous Monitoring Techniques
  • Leveraging Technology for GRC Monitoring

Module 7: Leading a Culture of Control and Accountability

  • The Executive's Role in Championing a Strong Control Environment
  • Fostering Ethical Behavior and Integrity
  • Promoting Accountability at All Levels of the Organization
  • Communication Strategies for GRC Initiatives
  • Whistleblower Protection and Reporting Mechanisms

Module 8: Emerging Trends in Audit, Risk, and Controls

  • Digital Transformation and its Impact on GRC
  • Cybersecurity Risks and Data Privacy Compliance (e.g., GDPR, CCPA)
  • ESG (Environmental, Social, Governance) Risks and Reporting
  • Artificial Intelligence and Automation in GRC
  • Future Challenges and Opportunities in the Control Environment

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

 

Audit, Risk, And Internal Controls For Executives Training Course in Australia
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