Auditing Governance, Strategy, Ethics and Risk Management

This training course is suitable for Chief Audit Executives, Internal Audit Heads, Managers, Supervisors and Lead Auditors from the private, public and not-for-profit sectors.

Find out if this training course is suitable for you. Enquire here!

This training course is designed to cover the following units:

Day One

Understanding the background

• Internal audit’s focus: past, present and future
• Key causes of corporate success and failure
  Case study
• The pivotal role of effective governance
• Lessons from the credit crunch
• Does internal audit have a legitimate role?
• Implications of the IIA standards
• The case for internal audit involvement

Potential audit areas

• The core components of organisational governance
• A dual imperative: conformance and performance
• Examining IIA guidance
• What can be audited?
• Exercise

Exploring the options and developing your approach

• Leveraging internal audit’s dual roles
• The impact of organisational governance maturity on internal audit's role
• Focusing on the 'bigger picture'
• Integrating into the annual planning process
  Audit area checklist

Auditing governance and ethics processes

• Board and board committee structure and effectiveness
• Ethics and corporate responsibility: policy and practice
  Case study
• Assessing ethics: possible approaches
• Oversight, audit and assurance: the audit committee's role
• Recruitment, training and succession planning: the role of the nomination committee
• Pay and incentives: remuneration committee responsibilities
• Accountability and performance management
• Disclosure and communication
  Sample audit programme

Day Two

Auditing strategy

• Phases of the strategic planning/implementation process
• Environmental scanning / development of strategic options
• Evaluation and selection of options
• Communication
• Implementation
• Monitoring
• Reporting
• Internal audit’s potential role and focus in each phase
  Sample audit programme

Auditing risk management

• Acceptable and unacceptable roles of internal audit
• A review of IIA guidance
• Understanding risk management maturity
• Assessing the risk management maturity of your business
  Exercise
• Risk-based internal auditing
• Assurance mapping
• Defining and auditing risk appetite
• Auditing the key components of the risk management process:
  -Risk leadership
  - Risk identification; risk assessment and prioritisation; responding to risks
  - Risk monitoring: linking Key Risk Indicators to strategy
  Case Study
• Risk reporting: emerging trends
• Things to watch out for
• Internal audit: a catalyst for change
• Clarifying roles and responsibilities for risk management
  Sample audit programme

Managing risks to internal audit

• The implications for independence and objectivity
• Knowing where and when to draw the line
  Case Study
• Resource implications
• Plugging resource gaps

Gaining buy-in from the Board and Audit Committee

• Making the business case
• Process versus content
• Dealing with objections
  Role Play
• Dos and don’ts

Getting started

• Identifying quick wins to build confidence
• The role of pilot assignments
• Communicating success

Conclusions and action planning

Find out more about the training agenda by contacting MIS training institute here!

The cost of this Auditing Governance, Strategy, Ethics and Risk Management training course is £1, 525 + VAT per delegate.

In-house training

This courses can be delivered in-house, upon your premises, at any date or location. Bring this MIS Training course to your organisation. Contact us to find out more.

Contact MIS Training Institute for more price information, discount available and course delivery options here!

Jenny Rayner

Jenny is a former Chief Internal Auditor for ICI and author of Managing Reputational Risk: Curbing threats, leveraging opportunities. Jenny writes and lectures on internal auditing, risk management, corporate governance and reputation. She is a member of the Institute of Risk Management and has chaired the North West District Committee of the IIA UK and Ireland.