Auditing the Enterprise Risk Management Process

Course overview

Boards rely on enterprise risk management to understand the threats to their objectives, but they also need independent assurance that the process works. Internal auditors are well placed to provide it, provided they understand what good risk management looks like and how to test it. This enterprise risk management audit course equips auditors to review ERM frameworks and give meaningful assurance.

Participants study the principles of ERM and recognised frameworks, risk governance and the respective roles of boards, risk functions and internal audit. They learn to assess risk maturity, review risk appetite statements, test risk identification and assessment, evaluate controls and risk responses, and examine risk reporting. Particular attention is given to risk culture, which is often decisive but hard to audit. The course ends with reporting ERM audit results, rating maturity and recommending improvements. Case material comes from public bodies, banks and state corporations in the region.

Participants leave able to plan and perform ERM audits that give boards clear assurance and practical recommendations.

What you will be able to do

• Explain ERM principles and recognised frameworks
• Define the roles of boards, risk functions and internal audit in ERM
• Assess the maturity of an organisation's risk management
• Test risk identification, assessment, response and reporting
• Evaluate risk culture using practical audit techniques
• Report ERM audit findings and recommend improvements

Who should attend

For internal auditors, risk professionals and audit committee members who assess or oversee enterprise risk management.

• Internal auditors
• Heads of internal audit
• Risk managers
• Compliance officers
• Audit and risk committee members
• External auditors reviewing governance

Course outline

Fees are per participant in US dollars and cover tuition, course materials and your certificate. Travel and accommodation are not included.