rogramme Objectives

• This is a lively and engaging programme, specially designed for managers and executives in Singapore to understand and evaluate the requirements of corporate governance, risk management and compliance practices applicable to all organisations - ranging from public listed companies, financial institutions, privately-owned businesses, to small and medium size enterprises.
• This workshop provides an opportunity for participants to benchmark their organisation practices against the COSO-ERM framework, and learn how to implement an effective ERM system in compliance with the current standards and other requirements for their organizations.
• Organizations that take and manage risks well are more likely to achieve or exceed their objectives because they have the capacity and ability to:
  • Identify and exploit opportunities;
  • Identify and manage risks that could affect achieving their objectives;
  • Make good decisions quickly; and
  • Respond and adapt to unexpected events.

Programme Outline

• Module 1 – What Risk is About
• What is Risk?
• Events – Risk and Opportunities
• The ‘Fraud Triangle’ of Red Flags
• A Comprehensive Listing of Risk Factors
• Critical Thinking – Insights to the Magic of David Copperfield
• Fun Facts – Who is a Typical Fraudster
• It’s Movie Time – The Black Hole
• Module 2 – Introduction to Governance and Risk Management
• Governance Models – Getting the Balance Right
• The Toolbox of Risk Management
• Roles of the Audit Committee, the Internal Auditor, the External Auditor
• Linkage between Governance, Risk Management and Audit
• Practical Case Studies – Recent Instances of Corporate Governance Failures and Lapses
• Module 3 – International Standards for ERM
• International Risk Management Frameworks
• What is ERM?
• Introducing the New COSO-ERM Integrated Framework
• Practical Case Study – What Went Wrong?
• Module 4 – COSO-ERM Framework in Practical Terms
• Internal Environment as the Foundation of Risk
• Objective Setting and Linking to Risk Appetite and Risk Tolerance
• Events Identification I - Strategic Risk Analysis Techniques and Application
• Events Identification II - Business Process Analysis to Identify Key Events Emanating from External and Internal Factors
• Risk Assessment - Application of Risk Assessment Techniques; Inherent and Residual Risks; Impact and Probability
• Risk Response - Risk Response Types; Portfolio View of Risk Response
• Control Activities I - Financial & Non-financial Control Activities, Internal Controls over the Sales/Collection Process
• Control Activities II - Internal Controls over the Acquisition/Payment Process
• Information and Communication - Communication with Internal and External Parties; Whistle-Blowing
• Monitoring - The Roles of Internal and External Stakeholders; Ongoing and Separate Monitoring
• Monitoring by Auditors I - Audit Process Overview
• Monitoring by Auditors II - Audit Risk Assessment
• Module 5 – Systems Thinking and Organisation as Dynamic System
• Mental Models and “Silo-Mode”
• Inter-relationships and Holistic View
• Unintended Consequences
• Practical Case Studies – “The Divide and Conquer” Strategy
• Module 6 – Sustainability Risk Management
• It’s Movie Time – What is the Cost to Organizations for Ignoring and Sidestepping Sustainability Risks
• Risk Management Issues arising from Environmental and Social Concerns.
• Framework for Reporting Sustainability Risk
• Practical Case Study – Examining Keppel Corporation’s Sustainability Risks
• Module 7 – Value at Risk: The New Benchmark for Managing Financial Risk
• Financial Risks versus Business Risks
• Change: The Only Constant
• Types of Financial Risks – Market Risks, Liquidity Risks, Credit Risks, Operational Risks
• Insights to Derivatives Markets: How Big?
• Module 8 – Concepts Integration and Review
• Risk and Ethics
• Fraud Prevention Strategies
• Recap with a Fun Quiz Game Show - “Who Wants to be a Risk Management Genius?”

CPD hours:24

Fee: CRA members AU$1400 Non-members AU$2000

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