PwC’s Corporate Governance, Risk Management, Compliance .

4m ago
7 Views
0 Downloads
608.60 KB
22 Pages
Transcription

PwC’s corporate governance, risk management,compliance (GRC) and internal audit training programmeVirtual learning workshop

Message from Risk Assurance Partner,PwC SingaporeBuild up your organisation’s ability to manage uncertaintiesToday’s business world is competitive, unpredictable, yet more regulated andscrutinised than before. It is fraught with risks and uncertainties that may impact yourorganisation’s reputation, financial and operational objectives.It is imperative to have in place a comprehensive and effective governance frameworkto safeguard your organisation against uncertainties – to actively identify, measure,prioritise, respond, and monitor the risks that threaten its critical objectives andprojects, and day-to-day operating practices.Corporate governance is more than just a framework. corporate governance covers anarray of domains, namely risk management, control management, compliance andinternal audit. Each domain will ensure that the organisation operates and pursuesopportunities in a sustainable and accountable manner.We are proud to bring PwC’s corporate governance, risk management, compliance(GRC) and internal audit training programme to you. We advocate a performancefocused and integrated approach to set up your organisation’s corporate governanceframework, and to manage risks and controls across the organisation and operations.Through this programme, we aim to share with you our experience in GRC andinternal audit, in order to support you to design, implement and maintain an effectivecorporate governance framework to meet the uncertainties of the business world.Alywin TehPartner, Risk AssurancePwC Singapore2 PwC’s corporate governance and internal audit training programme

Benefits of PwC’s corporate governance, riskmanagement, compliance (GRC) and internalaudit training programmeImproved performance and profitabilityIntegrated management and comprehensive view of risk, controls,compliance requirements, and internal audit programme in theorganisationBetter shareholder accountability and corporate imageEnhanced dialogue with shareholders, rating agencies and regulators3 PwC’s corporate governance and internal audit training programme

Empowering your organisationthrough learningPwC’s Academy provides comprehensive trainings to equip your organisation todevelop, implement, and mobilise an effective corporate governance framework. TheAcademy leverages upon PwC’s core competencies and deep industry and regulatoryknowledge and translate them into powerful, practical and relevant experientiallearning solutions.3 lines of defenceFramework for corporate governance and riskassurance training4aInternal auditfundamentalsThe Board ofDirectors/AuditCommittee21aEnterprise riskmanagementCorporate governancefundamentals4b5Internal auditadvanced module4c3How to set up aninternal auditfunctionCompliancefunctionAudit CommitteeBoardChief Executive OfficerPositive / strategy risk Risks taken to generate strategic value or outcomesFunctions that own and managerisks as well as design and operatecontrols1st line of defenceNegative / Preventable Risk Internal organisation risks arising from inadequateor failed process, system, people that arecontrollable and should be avoided or eliminated. Unauthorised, illegal, unethical, incorrect orinappropriate actions or decisions by people. Breakdown in operational processes or systems.External / unpreventable riskOperating Units Customer service Support Units Finance Technology Operations Human resources Strategy & planningFunctions that establish risk standards,processes and provide oversight of risksand controls in support of managementFunctions that provide independent assurance tothe board and senior management concerning theeffectiveness of risk management and controls2nd line of defence3rd line of defenceEnterprise riskmanagementfunctionInternalauditCompliance functionRisk management &controlsRisk oversightAssurance1bRisk management fundamentals1cInternal control fundamentals4 PwC’s corporate governance and internal audit training programme

Specialised training pathwaysPwC’s Academy understands the specific learning needs that professionals require tolead or manage their domain(s) – in risk management, internal controls, compliance,or internal audit. To equip the professionals with the right knowledge and skillsets, wehave curated the below dedicated training pathways.Specialisedmodules1aCorporategovernance Key elements ork1bRiskmanagementfundamentals Key riskmanagementprocesses andapproaches tomanage management Design and Key concepts ininternal controlframework andapproaches tomitigate risks3Compliancefunction Set up a4Internalauditseries Key internalaudit processesand approachesto conduct anaudit exercise5The Board ofDirectors/AuditCommittee Mandate andimplement anenterprise riskmanagementprogrammecompliancefunction andprogrammebest practices ofthe Board ofDirectors/AuditCommittee Board andmanagement Process andcontrol owners Risk managers Compliancemanagers Internal auditors ½ day½ day½ day1 day1 day2½ days½ dayDurationUpskill with us digitallyThis series of corporate governance and internal audit training will bedelivered through PwC’s virtual learning workshops.Our virtual learning workshops are designed to support today’s busyprofessionals to upskill conveniently. Each virtual learning session isdesigned to be bite-sized and centred on a specific professionaltopic to provide you with concise knowledge and practical insights tosupport you at work. The virtual learning series are presented by thesame team of PwC subject matter experts who have extensiveexperience in delivering our face to face workshops.5 PwC’s corporate governance and internal audit training programme

Module 1: Governance, risk and controlsfundamentals: Build your foundation rightDurationObjective(s)This module is designed to introduce participants to fundamentalconcepts in corporate governance, risk management and internalcontrols.Module 1a: Corporate governance fundamentalsThis introductory module aims to introduce participants to the basicconcepts in corporate governance, helps participants in understandingthe key steps and considerations to setting up good governance andstructure in their organisation.½ dayModule 1b: Risk management fundamentalsThis introductory module aims to impart key risk management concepts,and equip participants with risk management processes, techniques andtool to manage risks at the process level.½ dayModule 1c: Internal controls fundamentalsThis introductory module aims to equip participants with key concepts ininternal control framework, and equip participants with knowledge onhow to design and assess controls to mitigate risks. The module will bedelivered using a mix of hands-on exercises and case studies toenhance participants’ learning.½ day** Whilst you may choose to attend these sessions discretely, it isrecommended that you attend all 3 modules for a comprehensivelearning experience on GRC fundamentals.TargetaudiencesBoard and Management, Process and Control Owners, Risk Managers,Compliance Managers and Internal Auditors6 PwC’s corporate governance and internal audit training programme

Module 1a: Corporate governance fundamentalsDuration½ dayObjective(s)This introductory module aims to introduce participants to basic concepts inCorporate Governance, and helps participants understand the key steps andconsiderations to setting up good governance in their organisation. Thismodule will be conducted in seminar style and enhanced using real lifepractical examples to illustrate how corporate governance is being put inpractice in other organisations.Key learning outcomesAfter the workshop, participants should understand:1. The key elements in a corporate governance framework2. The corporate governance structure, and role and responsibilities of theBoard3. The typical levels of responsibilities in a corporate governance structure4. Key considerations to set up or improve governance in your organisationTopicDetailsOverview of corporategovernance Importance and benefits of corporate governance; How does anorganisation manage risks and uncertainties with goodgovernance? Evolving governance landscape Key principles of corporate governance Key elements of an effective corporate governance framework The Board’s composition and processes, including BoardCommittees, nomination and remuneration process Mandate and role of the Board in providing leadership andindependent review and oversight in strategy, risk, and assurance. Working relationship between the Board and Management, andprinciples of independence and leadership Key responsibilities of the Board, including:Governance structurei.Management oversightii.Protection of stakeholders’ rightsiii. Disclosure and transparencyiv. The company’s strategyGovernance in controlledcompaniesSetting up or improvingcorporate governance in yourorganisationGovernance for family businesses Succession planning in family businesses, and the role of theindependent director How corporate governance can help family companies movetowards an IPO or listing Common challenges and best practices to implement corporategovernance in a family Best practices to develop corporate governance in yourorganisationAssignment of responsibilities for corporate governance within theorganisationIntegration of corporate governance in your organisation 7 PwC’s corporate governance and internal audit training programme

Module 1b: Risk management fundamentalsDuration½ dayObjective(s)This introductory module aims to impart key risk management concepts, andequip participants with risk management processes, techniques and tool tomanage risks at the process level. The module will be delivered using a mixof hands-on exercises and case studies to enhance participants’ learning.Key learning outcomesAfter the workshop, participants should understand:1. The definition of risk and importance of risk management2. The role of frontline functions to own and manage risks3. The key steps in the risk management process, and relevantmethodologies, tools and techniquesTopicDetailsIntroduction to riskManagement Definition of risk, and how risks are evolving in today’s businesscontext Risk management and its benefits Role of risk management in organisations and in the corporategovernance framework Measurements of risks (i.e. likelihood and impact ratings), anddistinction between inherent risk and residual risk Risk appetite, and risk tolerance setting at process level Risk profile, and steps to establish your corporate risk profile usingcase studies from organisations Role of frontline, i.e. process owner as risk owners, from a ThreeLine of Defence perspective Risk management process and techniques to manage risks atprocess level:Fundamental concepts of risksRisk management process andmethodologiesi.Establishing the organisation’s risk taxonomy, including riskcategoriesii.Identifying risks and key risksiii.Assessing risksiv.Determining risk treatment techniques (i.e. to accept, avoid,transfer, or mitigate)v.Monitoring key risks, and developing key risk indicators (KRIs)for key risk processesvi.Reporting key risks Learn risk management methodologies and techniques (e.g. bow-tieanalysis, heat-map) to execute above process Use and develop risk management tools (e.g. risk register, riskdashboards, etc.) with provided templates8 PwC’s corporate governance and internal audit training programme

Module 1c: Internal controls fundamentalsDuration½ dayObjective(s)This introductory module aims to equip participants with key concepts ininternal control framework, and equip participants with knowledge on how todesign and assess controls to mitigate risks. The module will be deliveredusing a mix of hands-on exercises and case studies to enhance participants’learning.Key learning outcomesAfter the workshop, participants should understand:1. The objectives and limitations of internal controls to mitigate risks2. The key steps in internal control design, testing and monitoring3. How to conduct control self assessment (CSA)TopicDetailsIntroduction to internal controls Relationship between key process, risks, and controls Objectives of internal controls, and how a good control environmentcan help to mitigate risks at process level using case studies Limitations of internal controls Elements to an adequate and effective internal control environment 5 components of COSO’s internal control framework (i.e. controlenvironment, risk assessment, control activities, information andcommunication, monitoring) and the applications of the components Types of internal controls, such as:COSO internal controlframeworki. Preventive (or error-proofing) versus detective (error-finding)controlsii. Manual versus automatic controls Assess control design adequacy, and conduct controlrationalisation, when risk environment changes periodically Test control operating effectiveness Key steps in control self assessment (CSA) Use and design Key Control Indicators (KCI) to monitor theeffectiveness of internal controls8 PwC’s corporate governance and internal audit training programme

Module 2: Enterprise risk managementDuration1 dayObjective(s)This advanced module aims to equip dedicated Risk Managers andother individuals who own, manage or provide oversight of risks,with fundamentals of Enterprise Risk Management (ERM)framework to design and implement the organisation’s ERMprogramme effectively. The module will be delivered in a plenarystyle with case studies, and content will be based on globalstandards (i.e. COSO and ISO standards) and industry bestpractices.Key learning outcomesAfter the workshop, participants should understand:1. The importance of ERM, and distinction from traditional riskmanagement2. The role of risk management functions to have oversight of risks3. T