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Auditing the Enterprise Risk Management Process

ACI Learning
Course summary
Professional Training
2 days
1,600 USD excl. VAT
Professional Training
Course Dates
Online courses
1,600 USD
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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 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 (OAR201) or equivalent experience

Outcome / Qualification etc.

NASBA Certified CPE: 16 Credits Auditing

Risk and Compliance Certificate

What You'll learn

You will learn the characteristics and functionality of effective ERM programs, and how auditors can evaluate the risk management process.

Course Objectives

  • The learner will understand the basic elements of the entire ERM process, including governance, execution, and reporting.
  • The learner will define common ERM vocabulary and terminology.
  • The learner will understand how the ERM process should be linked to the organization's strategy.
  • The learner will apply the ERM framework principles and develop auditing procedures to assess the effectiveness of an organization's ERM process.
  • The learner will identify the differences between the two of the most used ERM frameworks, COSO and ISO.

Training Course Content


  1. Enterprise Risk Management (ERM)
  2. COSO Principles 1-20

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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