Governance, Risk and Compliance (GRC) Training

Overview of governance, risk management and internal controls

• Definition of corporate governance
• The scope of corporate governance
• Essential corporate governance principles
• Code of conduct
• The board of directors
• The audit committee
• Other committees

Stakeholders in Corporate Governance (CG)

• Shareholders
• Shareholders rights
• Directors’ duties and right
• Internal auditors and external auditors
• Risk based decision making
• CG failure effects
• The efficient board

Functions of corporate governance

• Independence of the board
• Selection, remuneration and evaluation of the board
• Analyzing current company’s CG system
• Disclosure and transparency

Introduction to compliance

• Definition of compliance
• Importance of compliance
• Practical examples of compliance
• Risks of compliance

Enterprise Risk Management

• Risk perception
• Why should we care about risk?
• Internal environment changes
• External environment changes

Risk management areas

• Strategic
• Operations
• Reporting
• Financial
• Health and safety

Risk management process per COSO guidelines

• Internal environment
• Objective setting
• Event identification
• Risk assessment
• Risk response
• Control activities
• Information and communication
• Risk monitoring

Implementing controls in business cycles

• Controls in purchase and payment cycle
• Controls in inventory and costing cycle
• Controls in HR and payroll cycle
• Controls in sales and collection cycle
• Controls in fixed assets life cycle