Governance, Risk Management, and Compliance

Course Content

18 January 2023

• Overview of Governance, Risk Management, and Internal Controls.

• Corporate governance issues and concepts.

• External governance – law and regulation.

• Corporate Governance stakeholders.

• Corporate Governance importance.

• Different models of corporate governance and the difference between them.

• What is compliance?

• The importance of compliance.

• Practical examples of compliance.

• Compliance Risk.

• Enterprise Risk Management.

• Risk Management areas.

• Implementing controls in business cycles.

• Risk management process as per COSO guidelines:

o Indoor environment.
o Goal setting.
o Definition of events (risks).
o Risk assessment and response. o Risk control activities.
o Information & communication. o Risk Control.

o Identifying areas of risk management and internal and external environment changes.

• Implement controls within business cycles and processes:

o Payment and purchase cycle controls.

o Inventory cycle and cost controls.
o HR cycle controls and payroll systems.

o Sales and collection cycle controls.

o Fixed asset lifecycle controls.

• Identify and evaluate high-impact rewards, risks, and compliance requirements.

• Different stakeholder roles and responsibilities in a private or public organization.

• Practical applications and case studies.