Institutional Governance in Risk Management and Internal Audit

Overview:

Introduction:

"Institutional Governance in Risk Management and Internal Audit" is essential for modern organizations, providing a structured approach to identifying and managing risks while ensuring compliance. It establishes guidelines for transparency, accountability, and integrity, aligning risk management with strategic objectives. Through this conference, participants will explore its fundamental principles and best practices, emphasizing its role in safeguarding organizational value and fostering sustainable growth.

Conference Objectives:

By the end of this Conference, participants will be able to:

• Understand the importance of institutional governance in mitigating risks and achieving organizational objectives.

• Identify key principles and best practices in risk management and internal audit.

• Develop strategies for implementing robust risk management frameworks tailored to their institution's needs.

• Enhance internal audit processes to ensure compliance, transparency, and accountability.

• Foster a culture of risk awareness and proactive risk mitigation within their organizations.

Targeted Audience: 

• Chief Executive Officers.

• Chief Risk Officers.

• Internal Auditors.

• Compliance Officers.

• Risk Managers.

• Board Members.

• Audit Committee Members.

• Finance and Accounting Professionals.

Conference Outlines:

Unit 1.

Understanding Institutional Governance and Risk Management:

• Introduction to institutional governance principles.

• Importance of risk management in achieving organizational objectives.

• Role of internal audit in enhancing institutional governance.

• Key elements of effective risk oversight by governing bodies.

• Aligning governance structures with risk management frameworks to promote organizational resilience.

Unit 2.

Risk Identification and Assessment:

• Techniques for identifying and assessing risks.

• Risk appetite and tolerance.

• Establishing risk registers and heat maps.

• Utilizing data analytics and predictive modeling for risk assessment.

• Incorporating scenario analysis and stress testing to assess potential impacts and vulnerabilities.

Unit 3.

Risk Mitigation and Control:

• Developing risk mitigation strategies.

• Implementing internal controls to mitigate risks.

• Monitoring and evaluating risk mitigation measures.

• Integrating technology and automation tools for enhanced risk management.

• Establishing contingency plans and business continuity measures to address potential risks and disruptions.

Unit 4.

Internal Audit Best Practices:

• Overview of internal audit standards and guidelines.

• Conducting risk-based internal audits.

• Reporting and communicating audit findings effectively.

• Utilizing technology and data analytics in internal audits.

• Addressing emerging trends and challenges in internal auditing.

Unit 5.

Building a Culture of Risk Awareness:

• Leadership's role in promoting a culture of risk awareness.

• Training and awareness programs for staff.

• Continuous improvement in risk management and internal audit processes.

• Implementing effective communication strategies to ensure understanding of risks across all levels of the organization.

• Establishing mechanisms for feedback and engagement to foster a proactive approach to risk identification and management.