Audits Role in ERM

Course Description

Enterprise Risk Management is new and somewhat confusing processing. Though valuable, it needs to be running as anticipated to truly benefit a company.  But isn’t risk the job of an audit?  After all, they are the experts.

The audit is an integral part of the process because they cannot own Enterprise Risk Management.

Both audit and enterprise risk management (ERM) functions focus on an organization’s risk profile and areas of great risk importance and exposure, but the two often take different approaches.

An audit serves as the assurance arm of risk management, answering the question: Are you doing what you said you were going to do to manage risk? This function maintains independence to be objective in the review and analysis of risk.

ERM proactively works with the business to understand, assess, and report on risk. This function seeks to understand potential areas of risk focus and work with the business to develop and implement an adequate risk response if needed.

To create stronger risk practices and build a strategic relationship between ERM and audit, it's crucial to increase collaboration between the two. Ongoing monitoring of risks and related controls is especially important to ensure there is a constant feedback loop between risk management and audit.

If approaches between ERM and audit teams are not coordinated, there will be issues. It can lead to inconsistent priorities and strategic messaging, greater burdens on all stakeholders, and increased reporting needs and documentation requests.

This CPE audit course will explain how audits can help and make a difference.

Learning Objectives

• To analyze why ERM is important.
• To discuss regulations around what audits can and cannot do
• To analyze practical tips as to how to accelerate ERM growth in their organizations.
• To discuss how to start the dialogue about ERM and its requisite functions.

Recommended For

• This Online Continuing Education Webinar is recommended for CPAs, CRMAs, CIAs, IAPs, QIALs, CFFs, CFEs, and Audit Manager or Staff of Auditors interested in understanding the role of auditing in Enterprise Risk Management and who wants to provide ERM strategy to their clients that align with their corporate strategy.
  

Who Should Attend?

Webinar Qualifies For

• 1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
• 1 CPE Credit for Internal Audit Practitioner (IAP)
• 1 CPD Credit of Auditing for Chartered Professional Accountant (CPA Canada)
• 1 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
• 1 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
• 1 CPD Credit of Auditing for Certified Financial Forensics (CFF)
• 1 CPE Credit for Certification in Risk Management Assurance (CRMA)
• 1 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
• 1 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
• 1 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
• 1 CPE Credit of Enterprise risk management for Certified Management Accountants (CMA)
• 1 CPE Credit for Certified Government Financial Manager (CGFM)
• 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
• 1 CE Credit for Certified Wealth Strategist (CWS)
• 1 General Credit for Accountant/Bookeeper
• 1 CPE Credit for Certified Government Auditing Professional (CGAP)
• 1 CPD Credit for CA - ICAEW
• 1 CPD Credit for Chartered Certified Accountants (ACCA)
• 1 CPD Credit for Chartered Accountants - Ireland (CAI)
• 1 CPD Credit for Chartered Accountants - Scotland
• 1 CPD Credit for CPA - Ireland

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