Internal Auditor’s Role in the Risk Management Process
What you will learn
As public-sector organizations come under increasing pressures to reduce costs and improve accountability and performance, effective risk management and coordination with a strong internal audit function are critical to their success. It is through a systematic approach to risk management and by successfully balancing risk and control that they can significantly enhance the value delivered to stakeholders.
To address these challenges this learning initiative is designed to help internal auditors improve their knowledge of the overall risk management process and to learn how to apply the requirements for a proactive approach in identifying and evaluating risk, assessing sufficiency of controls and identifying process threats as well as improvement opportunities. In particular the course will look into effective mechanisms to manage risks in the day-to-day operation of the internal audit. A question of how internal audit department adds value to the organization and how to embed risk management successfully into the organization’s structure will also be explored.
How you will benefit
To develop an active and cooperative learning environment, the workshop will combine introductory presentations with group discussions and case study work. Sufficient time will be allotted to question and answer sessions to allow participants to benefit from the exchange of professional experiences and practical examples.
By the end of the workshop, participants are expected to:
- Be familiar with the key characteristics of a proper risk culture in an organization
- Have improved understanding of who is who in the risk management process
- Have gained insights in the risk identification and assessment methodology
- Have developed an appreciation of the changes needed in their own organizations to make risk management strategies work
Who should attend
This practical hands-on workshop has been primarily designed for internal audit professionals from ministries and other public institutions who are involved in the ongoing process of identifying and assessing risks that if tackled proactively and timely allow for an effective and efficient delivery of organization’s planned services.
Risk, compliance and other financial officers who want to learn more about running effective risk management process in an organization are welcome to apply as well.
Participants should be involved in the daily practical aspects of risk management process and be ready to share experiences and express opinions in discussion with other participants.
In view of the interactive nature of the event, it will be helpful if participants have a good command of the English language as there are no interpretation services planned.
This learning initiative is supported by: