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Audits Role in ERM

  • CPA (CA)
  • CRMA
  • CFF
  • CIA
  • CPA (US)
  • IAP
  • QIAL
  • CFE
Audits Role in ERM

1 Credit

$10

Subject Area

Auditing

Webinar Qualifies For

1 CPE credit of Auditing for all CPAs

1 CPE credit for Certified Internal Auditors (CIA)

1 CPD credit (Verifiable) for Canadian CPAs

1 CPE credit for Qualification in Internal Audit Leadership (QIAL)

1 CPE credit for Internal Audit Practitioner (IAP)

1 CPE credit for Certified Fraud Examiners (CFEs)

1 CPE credit for Certification in Risk Management Assurance (CRMA)

1 CPD credit (Verifiable) for CPA/CFF

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

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Excel Accountant: Intro to Spreadsheets In-Depth

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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 by 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 course will explain how audit can help and make a difference.

Learning Objectives

  • To analyze why ERM is important.
  • To discuss regulations around what audit 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.

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Auditors
  • Certified Management Accountant
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA