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World Class Enterprise Risk Management

World Class Enterprise Risk Management

A Practical Approach to ERM. "Effective risk management allows an organization to have the confidence to take risks." 


The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has updated to its Enterprise Risk Management - Integrated Framework in September 2017. The update, Enterprise Risk Management - Aligning Risk with Strategy and Performance, is designed to address the needs of all organizations to improve their approach to managing new and existing risks as a way to help create, preserve, sustain, and realize value.


Corporate Compliance Seminars' professionals have been involved in the design, implementation and assessment of risks for over 40 years. We have conducted assessments, audits and trained thousands of auditors, compliance professionals, IT personnel, executives and Audit Committees in the "textbook" and real-world approaches to managing risk.


Our CPE seminars are instructed by auditors and business directors who understand the daily challenges of ERM. Our seminars are as entertaining as they are informative. Sit back and enjoy; be engaged and educated in a casual atmosphere of information exchange. We will not bore you!


This four-hour CPE course provides you with a more in-depth look at how to implement an ERM program. We will look at the draft of the COSO ERM update. This CPE seminar is for experienced business professionals. Attendees are required to have a detailed knowledge of the organization's business objectives.


Each attendee will receive 4 CPE Hours (YB). A certificate of completion will be provided.


Program Level of Understanding: Basic

Prerequisites: None

Advance Preparation: Have a detailed knowledge of organization's business objectives

Delivery Format: Group Internet Based

NASBA Field(s) of Study: Auditing

CPE Credits: 4, based on 50 minutes of instruction per hour

  • Details on Event Presentation

    Being offered twice a quarter on Thursdays at 10:00 a.m. to 2:30 p.m. Central Time.  There will be a lunch break from 12:00 noon to 12:30 p.m. each day.

    We can schedule private events on your timetable for two or more attendees.

  • CPE Event Highlights

    The seminar reviews the following:

    • The Components of COSO ERM and ISO 31000

    • Logic presented by the COSO ERM Components

    • The structure used to describe the COSO ERM Framework

    • How to gauge the effectiveness of Risk Management

    • How to build a "Culture of Compliance

  • Learning Objectives

    • Attendees will learn how to:

    • Define and document the "risk management framework" within an organization

    • Describe the COSO ERM Framework and its documents to management

    • Position themselves to plan and implement an effective ERM program

  • Key Issues on the Agenda

    Section 1 - Introduction and Overview

    • Hindsight-Insight-Foresight

    Section 2 - What is "Risk" and its Impact?

    • What is "Risk"?

    • What do "Boards of Directors" think?

    • Example of taking a big risk

    • Defining ERM

    • Risk Dimensions

    • Risk Management Maturity

    Section 3 - COSO 2013 Internal Control Framework

    • Internal control defined

    • Control Environment

    • Risk Assessment

    • Control Activities

    • Information & Communication

    • Monitoring Activities

    Section 4 - Risk Strategies with COSO ICIF

    • Specifies suitable objectives

    • Corporate objectives and strategic plans

    • Identify and analyze risk

    • Enterprise risk assessment

    • Financial statement risk assessment

    • Financial statement assertions

    • Assess fraud risk

    • Significant change

    Section 5 - Risk Strategies with Sarbanes-Oxley Act

    • Sarbanes-Oxley Act

    • PCAOB

    • Corporate Responsibility for Financial Reports

    • Code of Ethics

    • Enhancement of White Collar Crime Penalties

    • Why Do We Need Internal Controls?

    Section 6 - Risk Strategies with COSO ERM, AS5 and ISO

    • Effective Enterprise Risk Management Program

    • The COSO Risk Management Model

    • Risk Factors from PCAOB AS5

    • What is the external auditor supposed to do?

    • Information technology risk factors

    • ISO 31000: 2009 Risk Management

    • COSO ERM 2.0 - "Five Components of Risk"

    • Calculating Your "Risk Appetite"

    Section 7 - Risk Strategies with ARMICS

    • What is "ARMICS"?

    • Example of how to approach your "Risk Management Program"

    • What about your employee risks?

    • Risk software

    Section 8 - Risk Reaction and Response

    • Fight or Flight?

    • 12-Step Program to ERM

    • Risk Management is Not Perfect.

    Section 9 - Assessing Internal Controls

    • Identify the "Key" Controls

    • Test and Remediate the Controls

    • How Do We Test Controls?

    • Identify the Lines of Defense

    • Continuous Monitoring of KPI's and Risks

    • Achieve the "Risk-Control Balance"

    Section 10 - Going Forward

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