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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