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Corporate Operational Audit Leadership Skills



Corporate Governance is now one of the hottest topics in the business world. It is both a regulatory requirement and a business enabler. But do you know whether your Corporate Governance activities are extracting maximum value? If not, this is probably because your Internal Audit team has not assessed this key topic. This audit approach is crucial as the Board and the Audit Committee need comprehensive assurance about this strategic business process. This course will provide all the tools and techniques essential to audit the complex and wide-ranging field of Corporate Governance. It will help you ensure that you are applying the very best practices and meet all regulatory requirements

Course Objectives:

At the end of this course the participants will be able to:

  • Audit the risk management process
  • Meet stakeholder expectations regarding Corporate Governance (CG)
  • Evaluate the effectiveness of business continuity planning
  • Assist the Audit Committee in their Corporate Governance (CG) role
  • Evaluate sustainability and environmental governance
  • Audit joint ventures and partnerships

Targeted Audience:

  • Managers needing a broader understanding of how to review Governance maturity
  • Lead Auditors
  • Senior Auditors
  • Audit Managers and those about to be appointed to that role
  • Assurance providers that need a greater understanding of Corporate Governance


Course Outlines:

Unit 1: The Key Aspects of Corporate Governance:

  • What is Corporate Governance?
  • 6 Core Principles of Governance
  • The Governance Warning Signs
  • New Corporate Governance Insights Paper will be Shared
  • Auditing Corporate Governance – new guidance
  • Meeting Stakeholder Requirements
  • How the organization is managed on behalf of the stakeholders?
  • The Key Parties within Governance
  • Audit Committee
  • The Board
  • Regulators
  • Customers
  • Suppliers
  • A New Governance and Accountability Tool will be Shared
  • Developing a Terms of Reference for the Assignment
  • A New Audit Programme will be Shared
  • New Guide on IA Standard 2120
  • Corporate Governance Statements

Unit 2: Governance Assessment Techniques:

  • COSO Advisory Paper – improving organizational performance and Governance
  • Governance and Strategy
  • Governance Models
  • Codes of Governance Requirements
  • Financial Reporting Implications
  • International vs. National Governance Criteria
  • The 3 Lines of Defence
  • Who should cover what?

Unit 3: The Business Environment:

  • The Standards, Processes, and Structures
  • The Tone at the Top Regarding the Importance of Internal Control
  • Expected Standards of Conduct
  • Management Reinforcement of Expectations across the Organization
  • The Integrity and Ethical Values of the Organization
  • The Governance Oversight Responsibilities
  • The Assignment of Authority and Responsibility
  • The Process for Attracting, Developing, and Retaining Staff
  • Establishment of Performance Measures, Incentives, and Rewards




Unit 4: Analyzing and Assessing the Effectiveness of Governance Controls:

  • Business Process Analysis Techniques
  • Process Objectives and Risk
  • The Need to Understand the Business Objectives
  • Developing a Programme to Reflect these Objectives
  • Defining and Measuring Strategic Objectives
  • Determining Process Components
  • The Link between Objectives and Risk
  • The Link between Risks and Controls
  • Process and Business System Controls
  • The Link between Inputs and Outputs
  • Trigger Events

Unit 5: Scoping a Governance Audit:

  • Governance Structure
  • Reporting Lines
  • Strategy and Risk Appetite
  • Leadership and Culture
  • 3 Lines of Defence Process
  • Communication with Regulators
  • Escalation
  • Delegated Authorities
  • Whistleblowing
  • Accountabilities
  • Data Integrity
  • Commitment to Governance
  • Policies

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