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IIA Award in corporate governance, risk management and internal control

Presented by: Stephen Maycock

This Award introduces the key components required for effective corporate governance, risk management and internal control, drawing upon a wide variety of published good practice. The contributions required from a variety of roles are explored, along with techniques for embedding risk management into the culture of an organisation.

Who should attend?

This course is open to all.

What will I learn?

Upon completion you will be able to:

  • understand corporate governance concepts and the different approaches to governance in organisations operating in different sectors
  • appreciate the links between governance failings and current requirements
  • list key governance codes and requirements that exist within the UK and internationally
  • describe the key processes that are included in a risk management framework
  • appreciate the benefits of embedding risk management within an organisation and how this may be achieved
  • describe internal control frameworks and the links that exist between corporate governance, risk management and internal control
  • distinguish between the various roles that are essential for effective governance and risk management, including the roles of external parties

Course programme

Corporate governance concepts and approaches

  • definitions and terminology
  • board structures
  • stewardship, agency and stakeholder theories
  • voluntary and mandatory codes and requirements.

Organisational governance failures

  • case studies
  • themes in governance failures
  • reputation – importance and impact.

Corporate governance developments – UK and international

  • chronology of the development of corporate governance
  • internal control frameworks
  • example governance codes and guidance – UK and international.

Board effectiveness

  • board size and composition
  • board performance
  • board evaluation and re-election.

Governance roles

  • role of the board
  • chair and chief executive – roles and relationship
  • board subcommittees
  • non-executive directors
  • role of management
  • role of internal and external audit
  • reporting roles and responsibilities.

Stakeholders and regulators

  • shareholders and stakeholders
  • regulators and other external bodies influencing governance.

Corporate social responsibility

  • business ethics
  • dimensions of corporate social responsibility
  • stakeholder interests and engagement
  • key frameworks and legislation.

Risk management frameworks and standards

  • risk management concepts and terminology
  • development of risk management
  • risk types
  • risk management and corporate governance
  • risk management standards.

Strategic perspective on risk management

  • lines of defence
  • role of the board
  • role of risk committees and risk officers
  • role of management
  • role of functional experts
  • roles of internal and external audit
  • risk management policy.

The risk management process

  • objective setting and risk identification
  • risk analysis, evaluation and assessment
  • risk appetite and risk taking preferences
  • risk responses
  • control models and frameworks.

Embedding and monitoring of risk management

  • communication in risk management
  • monitoring and reporting
  • learning from risk incidences
  • relationships between governance, risk management and internal control
  • embedding risk management.

Pre-course preparation

There will be some pre-course preparation for this module which you will be advised on upon confirmation of your booking.

CPE competency areas covered

  • Performance (Organisational governance | Risk management | Internal control

14 CPE points

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