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Audits Role in ERM

  • Accountant
  • CPA (CA)
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • IAP
  • QIAL
  • ACCA
  • CBA/MCBA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: July, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What is Risk?
    7 mins
  • Why ERM is important
    9 mins
  • Strategic risks
    17 mins
  • The 3 CS
    28 mins
  • Consulting roles
    40 mins

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?

  • Accounting and audit managers/practitioners
  • Auditors
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Forensic Auditor
  • Fraud & Forensic Auditor
  • Risk Managers
  • Young CPA

Course Qualification

Webinar Qualifies For

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

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Denise Cicchella

Founder & CEO, Auspicium

Denise Cicchella is a recognized expert in construction audit, protecting owners from the overpayment of construction costs due to error, negligence or fraud.

Dense is a Certified Internal Auditor, Certified Fraud Examiner, Certified Construction Auditor, Project Management Professional and Fellow of the Life Management Institute. She holds an MBA in International Business from Fairleigh Dickinson University and a BBA in Accounting from Loyola University.  She is the Founding President of the New York/New Jersey Chapter of the National Association of Construction Auditors. She has audited and led audit teams for small construction project as well as multi billion dollar projects.

She is an experienced trainer and can often be seen teaching domestically and internationally.

About Company

Auspicium

www.auspicium.com

Auspicium was founded as a management consulting firm specializing in audit, real estate management, facilities management and Construction Audit and construction audit cost recovery. We specialize in consulting, fraud examination, risk assessment, and training. Our founder is a recognized leader in the field and has spoken for private companies as well as for The Instiute of Internal Auditors and the Association of Certified Fraud Examiners.

Faq

FAQs content

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