Training aimed at those involved in the Board Audit, Risk and Compliance (BARC) oversight responsibilities in various institutions including Audit Review Implementation Committee (ARIC). It will equip participants with current trends, tools, and techniques in providing leadership for the critical role of GRC in organizations.

Course Overview

The “Understanding Board Audit and Risk Governance Responsibilities” course is designed to equip participants with a comprehensive understanding of the crucial roles and responsibilities that board members hold in relation to audit and risk governance. In today’s complex and rapidly changing business environment, the board’s oversight functions are more critical than ever, particularly in ensuring that organizations effectively manage risks and maintain robust internal controls.

This course will delve into the fundamental principles of corporate governance, emphasizing the intersection of audit and risk management. Participants will explore the regulatory frameworks that govern board responsibilities, gaining insights into the legal and ethical obligations of board members.

Course Objectives

1. To understand the regulatory environment surrounding board governance.
2. To identify the key roles of the board in audit and risk management.
3. To evaluate the effectiveness of internal controls and risk management processes.
4. To enhance communication and collaboration between the board and management.

Course Outcomes

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

• Demonstrate a comprehensive understanding of audit and risk governance frameworks.
• Assess the effectiveness of their organization’s risk management strategies.
• Apply best practices in board governance to enhance organizational resilience.
• Facilitate discussions on audit findings and risk assessments confidently.

Course Benefits

• Improved knowledge of governance responsibilities.
• Enhanced ability to navigate complex regulatory environments.
• Strengthened board effectiveness in overseeing audit functions.
• Increased confidence in risk assessment and management discussions.

Targeted Participants

• Board members and directors
• Audit committee members
• Chief Audit Executives / Head/ Manager Internal Audit
• Risk management professionals
• Senior executives involved in governance
• Compliance Executives

Course Modules and Sessions

Module 1: Introduction to Board Governance

Session 1.1: Overview of Corporate Governance

Session 1.2: The Role of the Board in Governance

Module 2: Understanding Audit Responsibilities

Session 2.1: Internal vs. External Audits

Session 2.2: Audit Committees: Structures and Functions

Module 3: Risk Governance Frameworks

Session 3.1: Introduction to Risk Management

Session 3.2: Risk Assessment Techniques

Module 4: Regulatory Environment

Session 4.1: Key Regulatory Bodies and Their Impact

Session 4.2: Compliance and Ethical Standards

Module 5: Best Practices in Audit and Risk Governance

Session 5.1: Effective Communication with Stakeholders

Session 5.2: Case Studies on Successful Governance

Course Methodology

• Lectures: Engaging presentations by experts in governance and risk management.
• Interactive Workshops: Hands-on sessions to apply concepts in real-world scenarios.
• Group Discussions: Facilitated discussions to share experiences and insights.
• Case Studies: Analysis of real-life case studies to understand practical applications.

Assessments: Quizzes and feedback sessions to evaluate understanding and application of material.