Internal Audit and Risk Mitigation - Effective and practical use of the COSO and COBiT methodologies

The focus of the training session is to align the audit risk assessment, audit ecosystem, audit plan, and audit engagements with the larger organization's strategy, vision, and values. This course has been designed for those engaged in mitigating operational risk (especially Internal Auditiors) to:

• Understand the importance of corporate governance and enterprise risk management
• Identify risks to corporate strategy
• Critically review key business processes and objectives
• Perform a risk assessment
• Develop a risk-based assurance plan
• Understand entity-wide controls and their relevance in the audit plan
• Plan a risk-based engagement

Areas Covered in the seminar:

What is the role of Internal Audit in the assessing of risk? What is Internal Audit's key responsibilites in risk based audits?

• US Audit Performance Standard 2130.A1
• Elements of a Good Ethics Program
• Assuring Corporate Governance - Critical to mitigating risk
• Inherent and Residual Risk
• Risk Management Assumptions
• Benefits of Risk Management
• COSO Control and ERM Frameworks
• Factors and Points of Focus
• Limitations of Internal Control
• Roles and Responsibilities
• Entity Wide Risk Assessment
• Audit Plan
• Risk-based Audit Engagement
• Risk Events
• Determiniation Key controls with the new emphasis on business process re-engineering
• How to begin planning a risk assessment for the enterprise

Who Will Benefit:

This webinar is recommended for all managers and professionals who need to understand the design points of an effective risk management and compliance program. Non Auditors are also welcome as we believe the most effective risk management programs are effected by cross-organizational and cross-functional teams.

• Company Leadership (the “C” Level)
• Chief Risk and Compliance Officers
• Internal Auditors (Financial and IT)
• IT and Security Process Owners
• Finance and Accounting Managers

Instructor Profile:

Vic Datta, CPA, is the CEO of Resilicore, Inc. a firm specializing in driving breakthrough and resilient growth at its clients by the expert application of advanced risk management techniques and technologies. With 19 years of total work experience, Vic has been a management consultant and auditor for 12 most recent years. Vic is an experienced professional speaker and has acted in the role of Compliance and Governance Subject Matter Expert for risk management and compliance, training and consulting. He has documented processes, performed walkthroughs, identified and evaluated financial and technological risks to strengthen internal controls related to Sarbanes-Oxley Act (SOX) and Audit and Accounting Controls directives.

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