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Governance, Risk Management, and Compliance

Home.Audit, Governance, and Risk Management.Governance, Risk Management, and Compliance

Governance, Risk Management, and Compliance


This course is based on presentations delivered by the consultant and participants, and includes exercises, case studies, and various discussions.

Course Objectives

By the end of the course, participants will be able to:

  • Define corporate governance and its relationship to risk management and internal controls.
  • Discuss the roles and responsibilities of various stakeholders in private or public organizations.
  • Integrate corporate governance functions and differentiate between different models.
  • Identify areas of risk management and internal and external environmental changes.
  • Identify appropriate controls to be implemented in multiple business cycles.

Target Audience

Board members, general managers, executives, senior management, financial managers, legal consultants, lawyers, internal and external auditors, human resources managers, and department heads.

Training Program Content

  • Overview of governance, risk management, and internal controls.
  • What is corporate governance?
  • Scope of corporate governance.
  • Fundamental principles of corporate governance.
  • Code of conduct.
  • Board of Directors.
  • Audit Committee.
  • Other committees.
  • Stakeholders in corporate governance.
  • Stakeholders.
  • Shareholders’ rights.
  • Duties and rights of board members.
  • Internal and external auditors.
  • Risk-based decision making.
  • Effects of corporate governance failure.
  • Competency board.
  • Corporate governance functions.
  • Independence of the board.
  • Selection, compensation, and evaluation of the board of directors.
  • Analysis of the current “governance, risk management, and internal controls” system of the company.
  • Disclosure and transparency.
  • Overview of compliance.
  • What is compliance?
  • Importance of compliance.
  • Practical examples of compliance.
  • Compliance risks.
  • Enterprise risk management.
  • Risk awareness.
  • Why we should care about risks.
  • Internal environmental changes.
  • External environmental changes.
  • Areas of risk management.
  • Strategic risks.
  • Operational risks.
  • Reporting-related risks.
  • Financial risks.
  • Health and safety risks.
  • Risk management process according to COSO guidelines.
  • Internal environment.
  • Goal setting.
  • Event (risk) identification.
  • Risk assessment.
  • Risk response.
  • Risk control activities.
  • Information and communication.
  • Risk monitoring.
  • Applying controls within business cycles and operations.
  • Payment and procurement cycle controls.
  • Inventory and cost cycle controls.
  • Human resources and payroll cycle controls.
  • Sales and collection cycle controls.
  • Fixed asset lifecycle controls.

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