Internal Audit: Corporate Governance; Financial Risk Man PG Course

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Course Number 009 - Internal Audit, Incorporating Corporate Governance and Financial Risk Management, Course, Leading to Diploma Postgraduate - in Internal Audit, 36 Credit-Hours, Accumulating to a Postgraduate Certificate, with 144 additional Credit-Hours, and a Postgraduate Diploma, with 324 additional Credit-Hours. Contents include Internal Audit and Financial Risk Management, Internal Auditing Policy, Enhancing the role of the External Auditor, Internal audit and internal conflict, Internal audit and statutory conflict, Differences Between Internal And External Audit, Internal audit structure and Corporate Governance, Sarbanes Oxley (SOX) Act and its implications for Internal Auditing of International Firms, Key responsibilities for internal auditors, under the ACT,

 

Consequences for Internal Auditors who operate below the expected standards, Defining corporate governance, Exploring corporate governance and the relationships between internal and external stakeholders, The organisation’s responsibility and accountability to its shareholders, The organisation’s  accountability to its Board of Directors, Making ‘sense’ of the ‘internal-external-stakeholder-spectrum’, The difference between ordinary and preference shareholders, Distinguishing between winding up or insolvency, Bankruptcy, Receivership, and Administration, Assessing the implications of the ‘Receivership’ of a company for its statutory, primary and secondary creditors, Rules for distributing the proceeds of a company’s assets in ‘Receivership’, Rights and equitable treatment of shareholders: Interests of other stakeholders, Recognising the organisation’s legal obligations to all legitimate stakeholders, Role and responsibilities of the board, Integrity and ethical behaviour: Disclosure and transparency, Risk: A Working Hypothesis, Defining Risk – Generally,

 

Financial Risk: A Plausible Definition, Financial Risk in an Organisational Setting, Financial Risk and ‘Market Dynamics’, Liquidity Risk, Operating Risk, Fraud Risk, Settlement Risk, Corporate Strategy and Risk Management, The Currency Derivatives Market, Financial Risk and Unpredictability: Uncontrollable Environmental Issues, Asset Behaviour and Pricing Implications, Credit and Counterparty Risk, The Legal and Political Risk Environments, Risk as an Economic Factor, Technological Risk Factor, Risk associated with Socio-Cultural Change, Financial Risk Settings: A Meta-Analytical Exploration, Risk in Financial Institutions, Banking Risk, Risk and the Currency Market, Risk and the Equity Market, Futures Market Risk, Financial Exposure As Risk: An Introduction, Economic Exposure, Transaction Exposure, Translation Exposure, Calculating Risk in Financial Exposure Click To Download Internal Audit Course Brochure

 

Course Number 009 - Internal Audit, Incorporating Corporate Governance and Financial Risk Management, Course, Leading to Diploma Postgraduate - in Internal Audit, 36 Credit-Hours, Accumulating to A Postgraduate Certificate, with 144 additional Credit-Hours, and a Postgraduate Diploma, with 324 additional Credit-Hours. Click to download the PDF Brochure for this Course.
 

For Whom This Course is Designed:

This Internal Audit Postgraduate Short Course is Designed For:

  • Managers

  • Financial Consultants

  • Financial Advisors

  • Auditors

  • Audit Trainees

  • Accountants

  • Management Accountants

  • Corporate Executives

  • Venture Capitalists

  • Others interested in understanding and managing internal audit

Course Coordinator:        

Prof. Dr. R. B. Crawford is Course Coordinator. He is the Director of HRODC Postgraduate Training Institute, A Postgraduate-Only Institution. He has the following Qualifications and Affiliations:

Doctor of Philosophy {(PhD) {University College London (UCL) - University of London)};

MEd Management (University of Bath);

Postgraduate (Advanced) Diploma Science Teacher Ed. (University of Bristol);

Postgraduate Certificate in Information Systems (University of West London, formerly Thames Valley University);

Diploma in Doctoral Research Supervision, (University of Wolverhampton);

Teaching Certificate;

Fellow of the Institute of Management Specialists;

Human Resources Specialist, of the Institute of Management Specialists;

Member of the Asian Academy of Management (MAAM);

Member of the International Society of Gesture Studies (MISGS);

Member of the Standing Council for Organisational Symbolism (MSCOS);

Member of ResearchGate;

Executive Member of Academy of Management (AOM). There, his contribution incorporates the judging of competitions, review of journal articles, and guiding the development of conference papers. He also contributes to the Disciplines of:

Human Resources;

Organization and Management Theory;

Organization Development and Change;

Research Methods;

Conflict Management;

Organizational Behavior;

Management Consulting;

Gender & Diversity in Organizations; and

Critical Management Studies.

Professor Dr. Crawford has been an Academic in the following UK Universities:

University of London (Royal Holloway), as Research Tutor;

University of Greenwich (Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

University of Wolverhampton, (Wolverhampton Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

London Southbank University (Business School), as Lecturer and Unit Leader.

His responsibilities in these roles included:

Doctoral Research Supervisor;

Admissions Tutor;

Postgraduate and Undergraduate Dissertation Supervisor;

Programme Leader;

Personal Tutor.

 

Duration: 6 Days

 

Daily Schedule: 09:30 – 16:30

 

Cost: £6,000.00

 

The course cost does not include living accommodation. However, students and delegates are treated to the following:

Free Continuous snacks throughout the Event Days;  

Free Hot Lunch on Event Days;                           

Free City Tour;             

Free Stationery;                               

Free On-site Internet Access;

HRODC Postgraduate Training Institute’s   Diploma – Postgraduate; or

Certificate of Attendance and Participation – if unsuccessful on resit.

 

HRODC Postgraduate Training Institute’s Complimentary Products include:

HRODC Postgraduate Training Institute’s Leather Conference Folder;

HRODC Postgraduate Training Institute’s Leather Conference Ring Binder/ Writing Pad;

HRODC Postgraduate Training Institute’s Key Ring/ Chain;

HRODC Postgraduate Training Institute’s Leather Conference (Computer – Phone) Bag – Black or Brown;

HRODC Postgraduate Training Institute’s 8GB USB Flash Memory Drive, with Course/ Programme Material;

HRODC Postgraduate Training Institute’s Metal Pen;

HRODC Postgraduate Training Institute’s Polo Shirt.

 

 

Internal Audit, Incorporating Corporate Governance and Financial Risk Management, Course, Leading to Diploma Postgraduate - in Internal Audit, 36 Credit-Hours, Accumulating to A Postgraduate Certificate, with 144 additional Credit-Hours, and a Postgraduate Diploma, with 324 additional Credit-Hours

 

Course Objectives

By the conclusion of the specified learning and development activities, delegates will be able to:

  • Discuss, with confidence, the importance of internal account to an organisation;

  • Use a manufacturing organisation, to provide an example of the way in which the cost elements might be apportioned, thereby paving the way for an effective internal accounting structure;

  • Explicitly explore the functioning of a Responsibility Accounting System;’

  • Demonstrate an understanding of the general function of internal audit in national organisations and international operations, on the other;

  • Effectively explore the advisory role of internal audit in organisations;

  • Distinguish between internal and external auditing;

  • Illustrate the extent to which an effective internal auditing regime can enhance the work of the external auditor;

  • Exhibit a heightened understanding of the internal audit structure and its relation to corporate management, using an organisation of choice, as an example;

  • Explain the accountability of corporate directors to the internal auditing group;

  • Explain the importance of an internal auditing policy to the role and functioning of an internal audit department;

  • Use case examples to illustrate the inclusions of a typical internal auditing policy;

  • Resolve the scenario in which an internal auditing policy conflicts with ‘Audit professionalism’ and Public Expectation;

  • Suggest how to remedy a situation in which an internal auditing policy is in direct contravention of statutory directives or guidelines;

  • Demonstrate their awareness of the role of the internal auditor in the implementation of the ‘Board Approved’ Audit Directive;

  • Illustrate their ability to design, implement, monitor and evaluate an internal audit programme;

  • Internalise the importance of training and development in the enhancement of the audit management function;

  • Give a brief explanation to the Sarbanes Oxley (SOX) Act and at least 3 of the associated requirements for audit firms;

  • Illustrate two key responsibilities for internal auditors, under the ACT;

  • Evaluate the chief consequence of the internal auditor’s omission, under the ACT;

  • Define corporate governance in relation to the processes, customs, policies, laws and institutions affecting the way a corporation is directed, administered or controlled;

  • Relate corporate governance to the relationships that persists between internal and external stakeholders, particularly in relation to the establishment of organisational goals and objectives;

  • Demonstrate a heightened understanding of the organisation’s responsibility and accountability to its shareholders as primary stakeholders;

  • Exhibit a heightened awareness of the organisation’s  accountability to its Board of Directors;

  • Accurately locate an organisation’s management and workers within the ‘internal-external-stakeholder-spectrum;’

  • Distinguish between winding up or insolvency, Bankruptcy, Receivership, and Administration;

  • Demonstrate an understanding of the difference that exists between ordinary and preference shares;

  • Assess the implications of the ‘Receivership’ of a company for its statutory, primary and secondary creditors;

  • Explain the order in which the proceeds of a company’s assets will be distributed among its creditors, in the event of it falling into ‘Receivership;’

  • Exhibit an understanding of what constitutes the rights and equitable treatment of shareholders;

  • Explain how the interests of secondary stakeholders can be preserved;

  • Outline the roles and responsibilities of the Board of Directors;

  • Outline salient steps that can be taken to preserve an organisation’s integrity;

  • Establish the array of issues that are enshrined in a company’s ethical behaviour;

  • Determine the importance of operational ‘transparency’ in the face of the regulatory authorities’ demand and in the enhancement of shareholder and client confidence;

  • Define risk in an organisational context;

  • Demonstrate their understanding and ability to apply the issue of ‘Financial Risk Management’ to it broader context

  • Define, with examples, the concepts or financial risk and financial risk management within an organisational setting;

  • Exhibit their mastery of the link between market dynamics and financial risk;

  • Demonstrate their understanding of Liquidity Risk;

  • Pinpoint the bases of Operating Risk within organisations;

  • Draw on cases to highlight the vulnerability of organisations to operational risks;

  • Illustrate the role of the internal audit team in identifying, verifying  and addressing the risk associated with internal organisational members;

  • Demonstrate their ability to use audit trail or audit log to indentify perpetrators of internal fraud;

  • Devise a mechanism whereby organisational personnel vulnerable to outside influence, that might form the basis of ‘insider information’ that could be used frequently, might be identified and the appropriate risk management measure applied;

  • Illustrate their competence in identifying operational activities that are prone to Settlement Risk, proposing the measures that might be taken to reduce the associated financial risk;

  • Analyse organisational Corporate Strategy, identifying the associated financial risk and employing the appropriate Risk Management Strategy;

  • Demonstrate the various issues that are associated with The Currency Derivatives Market, indicating the extent to which their organisations are exposed and the degree to which financial risk management can reduce or avert the associated financial risk;

  • Demonstrate an understanding of the external environmental, uncontrollable forces that affect an organisation’s operation and how they might be circumvented to effectively manage its Financial Risk;

  • Explain how the Legal and Political Risk Environments will affect an organisation and the efforts that can be applied in the interest of its continuity;

  • Indicate their understanding  ‘Risk as an Economic Factor’ within an organisational context and the counter measures that can be applied;

  • Explain how Technology might pose a financial Risk to an organisation and how the effect might be circumvented or even capitalised on;

  • Identify the financial Risk associated with Socio-Cultural Change and how their effect might be minimised or exploited;

  • Exhibit a heightened awareness of Asset Behaviour and Pricing Implications and their consequence for organisational operation

  • Demonstrate an awareness of ‘Credit and Counterparty Risk’ and the organisational safeguards that might be applied;

  • Draw on their previous and newly acquired knowledge to demonstrate their understanding of  Risk in Financial Institutions and the financial risk management options that are available;

  • Demonstrate their understanding of financial risk management in Banking;

  • Explain to non-financial corporate personnel the financial risk associated with the Equity Market;

  • Use examples from recent international events to illustrate the financial risk that is associated with the Futures Market and how these might be addressed;

  • Explain Economic Exposure and its financial risk implications; and

  • Distinguish between Transaction Exposure and Translation Exposure, explaining their financial risk implications and remedy.

 

 

Course Contents, Concepts and Issues

 

Part 1: Introduction, Fundamental Concepts and Issues in Internal Audit

  • Internal Accounting;

  • Internal Cost Elements;

  • A  ‘Responsibility Accounting System’;

  • Internal Auditing;

  • Differences Between Internal and External Audit;

  • Internal Audit Structure and Corporate Governance.

 

Part 2: Internal Audit in Practice

  • Internal Auditing Policy;

  • Enhancing the Role of the External Auditor;

  • Internal Audit and Internal Conflict;

  • Internal Audit and Statutory Conflict;

  • Audit Management;

  • Audit Programme Development;

  • Audit Programme Monitoring;

  • Audit Programme Evaluation;

  • Training and Development In Internal Audit;

  • Sarbanes Oxley (SOX) Act and Its Implications for Internal Auditing of International Firms;

  • Key Responsibilities for Internal Auditors, Under the Act;

  • Consequences for Internal Auditors Who Operate Below the Expected Standards.

 

Part 3: Internal Audit and Corporate Governance

  • Defining Corporate Governance;

  • Exploring Corporate Governance and the Relationships between Internal and External Stakeholders;

  • The Organisation’s Responsibility and Accountability to Its Shareholders;

  • The Organisation’s Accountability to Its Board of Directors;

  • Making ‘Sense’ of the ‘Internal-External-Stakeholder-Spectrum’;

  • The Difference between Ordinary and Preference Shareholders;

  • Distinguishing between Winding up or Insolvency, Bankruptcy, Receivership, and Administration;

  • Assessing the Implications of the ‘Receivership’ of a Company for Its Statutory, Primary and Secondary Creditors;

  • Rules for Distributing the Proceeds of a Company’s Assets in ‘Receivership’;

  • Rights and Equitable Treatment of Shareholders: Interests of Other Stakeholders;

  • Recognising the Organisation’s Legal Obligations to All Legitimate Stakeholders;

  • Role and Responsibilities of the Board;

  • Integrity and Ethical Behaviour: Disclosure and Transparency.

 

 

Part 4: Contextualising Financial Risk

  • Risk: A Working Hypothesis:

  • Defining Risk – Generally;

  • Financial Risk: A Plausible Definition;

  • Financial Risk in an Organisational Setting;

  • Financial Risk and ‘Market Dynamics’;

  • Liquidity Risk;

  • Operating Risk;

  • Fraud Risk;

  • Settlement Risk;

  • Corporate Strategy and Risk Management;

  • The Currency Derivatives Market.

 

Part 5: Financial Risk in Internal Audit

  • Financial Risk and Unpredictability: Uncontrollable Environmental Issues:

  • Asset Behaviour and Pricing Implications;

  • Credit and Counterparty Risk;

  • The Legal and Political Risk Environments;

  • Risk as an Economic Factor;

  • Technological Risk Factor;

  • Risk associated with Socio-Cultural Change.

  • Financial Risk Settings: A Meta-Analytical Exploration:

  • Risk in Financial Institutions;

  • Banking Risk;

  • Risk and the Currency Market ;

  • Risk and the Equity Market;

  • Futures Market Risk.

 

Part 6: Financial Risk in Associated Exposures

  • Financial Exposure as Risk: An Introduction

  • Economic Exposure;

  • Transaction Exposure;

  • Translation Exposure;

  • Calculating Risk in Financial Exposure.

 

Internal Audit, Incorporating Corporate Governance and Financial Risk Management, Course, Leading to Diploma Postgraduate - in Internal Audit, 36 Credit-Hours, Accumulating to A Postgraduate Certificate, with 144 additional Credit-Hours, and a Postgraduate Diploma, with 324 additional Credit-Hours. Click to download the PDF Brochure, for this course.