About this course:
The purpose of the course is to get the participants to learn/improve/refresh their knowledge of the latest Corporate Governance regulations, guidance’s and best-practices and get ready to provide assurance services to their companies on this highly specialized area.
- Day 1: 12:00 – 16:00
- Day 2: 12:00 – 16:00
- Day 3: 12:00 – 16:00
Enrichment of knowledge: The scope for the course is to assist the participants to be able to understand and adjust accordingly their auditing methodologies in order to be able to audit their respective Corporate Governance environment thus safeguarding the company from unforeseen risks.
Updating of skills: During the course, full explanations with simple and practical workshops (round table discussions and scenarios to be analysed and presented in class by the delegates) will be created. These will allow the participants to be in a position to use the theory to engage into a discussion / solve the case scenarios on the relevant topic of the discussion.
- Gain the skills necessary to review and improve the corporate governance structure
- Develop techniques to effectively assess your organizations risk management activities and
- Measure the audit committees monitoring role
The following sections will be fully discussed and explained during the process of the course:
- Introduction and Scope of the course
- Company ownership and the agency theory
- The rights of the shareholders
- History of Corporate Governance
- Boards and committees (Audit, Nomination, Remuneration and the Risk Committees)
- Board member types, i.e. INED’S, NED’s and ED’s
- Roles, duties and responsibilities of the Board the directors the committee etc.
With the conclusion for the course the delegates will be able to have a better understanding of what is expected of them in preparing for their first or next audit assignment that of the CG.
A. History of Corporate Governance
- How did we get to this point?
- Why is governance important?
- General definitions
- Value of corporate governance, how it translates to share price for public companies and public confidence at non-public entities
- Examples of impact of poor governance on public and non-public entities
Workshop: challenges of the IA with auditing the roles and responsibilities of their Board and its members of their organisations?
B. Board and Directors Roles and Responsibilities
- Agency Theory
- ED Vs’ NED’s Vs INED’s
- Roles and duties of the Independent Non-Executive Directors (INEDs)
Workshop: Scenario analysis and presentation on a multi-jurisdictional governance entity
C. Audit Committee’s Role and Responsibilities
- Internal Audit
- External Audit
- Internal Control Environment – COSO
Workshop: Scenario analysis and presentation on “Franks & Fisher entity” AC, internal audit and internal control issues.
D. Nomination Committee’s Role and Responsibilities
- Chairman of committee
- Succession planning for the Board members
- Performance evaluation of Board – three methods
- Board diversity
- Balance of power
Workshop: Scenario analysis and presentation on “Rosh and Company” – nomination committee issues
E. Risk Committee’s Role and Responsibilities
- The three roles of the committee
- Risk and risk management
- Various types of Risks
- Risk appetite and risk tolerance concepts
- COSO ERM
- Embedding the Risk in the Culture
Workshop: Scenario on “Chen Products”- Risk assessment and risk management case study to be fully analysed and presented by participants
F. Remuneration Committee’s Role and Responsibilities
- Directors compensation schemes
Workshop: Scenario on “Chen Products”- Risk assessment and risk management case study to be fully analyzed and presented by participants
G. Independent Non-Executive Directors
- Their roles
- Advantages Vs Disadvantages of NED’s
- Independence and the NED’s
- Chairman roles and duties
Workshop: Scenario on “XAXA Company”- general CG case study to be fully analyzed and presented by participants
Who Should attend?
- Heads of Internal Audit (CAE)
- Audit Managers and those about to be appointed to that role
- Audit supervisors and auditors