Traditionally, compliance was primarily associated with ensuring adherence to rules and regulations that organizations face. However, modern compliance encompasses much more than that. It encompasses aspects such as culture, ethics, and providing guidance. Compliance now plays a central role in the business, going beyond simply reducing risks. It represents an ethical approach to conducting business. As a professional in this field, you will establish the standards for your employer, ensuring their preparedness for change and their ability to adapt quickly.

Course Objectives:

At the end of the Governance, Risk and Compliance training course, you will be able to:

Understand the concepts of governance, risk management and compliance (GRC)
Understand the regulatory environment
The reason for being governance is essential for effective regulatory compliance risk management
Identify high-risk areas and compliance in your organization
Apply a Risk-based Approach
The role of the compliance officer and his team
Develop and implement a governance, risk management, and compliance strategic plan
Understand, define, and enhance organizational culture as it relates to performance, risk, and compliance
Implement governance, risk management and compliance processes that are effective and efficient
Using a risk-based audit approach

Who Should Attend?

The governance, Risk, and Compliance training course, is ideal for:

Executives and Board Members
Internal Auditors
Compliance Officers / Managers and their Deputies
Governance Professionals
Risk Managers
GRC Professionals
Legal Professionals
Regulatory Representatives
Company Secretaries
IT Professionals dealing with governance, risk management and compliance
Managers responsible for governance, risk management and compliance activities

Course Outlines:

Overview of governance, risk management, and internal controls

Definition of corporate governance
The scope of corporate governance
Essential corporate governance principles
Code of conduct
The board of directors
The audit committee
Other committees

Stakeholders in Corporate Governance (CG)

Stakeholders
Shareholders rights
Directors’ duties and rights
Internal auditors and external auditors
Risk-based decision making
CG failure effects
The efficient board

Functions of corporate governance

Independence of the board
Selection, remuneration, and evaluation of the board
Analyzing the current company’s CG system
Disclosure and transparency

Introduction to compliance

Definition of compliance
Importance of compliance
Practical examples of compliance
Risks of compliance

Enterprise Risk Management

Risk perception
Why should we care about risk?
Internal environment changes
External environment changes

Risk Management areas

Strategic
Operations
Reporting
Financial
Health and safety

Risk management process per COSO guidelines

Internal environment
Objectives setting
Event identification
Risk assessment
Risk response
Control activities
Information and communication
Risk monitoring

Implementing controls in business cycles

Controls in the purchase and payment cycle
Controls in inventory and costing cycle
Controls in HR and payroll cycle
Controls in sales and collection cycle
Controls in fixed assets life cycle

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