Auditing ERM Programs and Controls: Strategies and Opportunities for Growth (AERM)
Overview
Enterprise Risk Management (ERM) continues to be a hot topic for organizations across industries. As a key element of an organization’s governance framework, ERM programs and controls pervasively impact the quality, effectiveness, profitability and growth of an entity. ERM can be viewed at a strategic level, as well as on an integrated basis throughout the organization. ERM is so all encompassing that it can at times seem almost too conceptual, too abstract, and too broad to tangibly evaluate (audit) at a design or operating effectiveness level. But thankfully to the research and guidance offered by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission, ERM programs and controls can be understood, applied and audited in an efficient and effective manner. Focused on key concepts of ERM (and ERM auditing) by way of a primer on available COSO ERM resources and publications, attendees will come away from this session equipped to bring foundational guidance to organizations in their efforts to implement or enhance ERM programs and controls, in addition to strengthening ERM auditing programs. Come join us for this engaging and enlightening program and explore strategic opportunities for bringing the conceptual world of ERM and ERM auditing into a “real” world practical application setting!
Major Topics:
“Donning the Audit Cape and Mindset”
Defining “Risk” and “ERM”
Key aspects/ elements of risk
ERM and the Governance framework
Benefits and limitations of ERM/ ERM Auditing
Risk/ opportunity analysis
Roles and responsibilities
The ERM Life Cycle
Overview of COSO ERM Guidance
ERM – Framework(s)
The case for ERM/ ERM auditing
Learning Objectives
Promote positive, principled based ERM/ ERM auditing foundations in organizations
Understand the importance and benefits of sound ERM/ ERM auditing activities in organizations, as well as key concepts and strategies related thereto
Identify ways to impact and strengthen your organization’s (and your clients’) ERM structures, processes, controls, and related auditing programs
Highlight strategic opportunities and practical application considerations for building/ expanding effective ERM/ ERM auditing frameworks for your company (and clients)
Designed for:
Auditors (and other professionals) seeking to develop/ enhance overall risk-based programs and focus, with particular emphasis on maximizing entity and process level integration and assessment opportunities related to ERM frameworks, processes and control
PREREQUISITE:
Experience in auditing
ADVANCED PREPARATION:
None