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Business Risk Management and
Internal Control
Venue : Council
Room, Hotel Blue Diamond
Pune
Date : 20th January, 2003
Organisation Challenges
Growth opportunities, competition, cost reduction, downsizing, value creation for shareholders and customers,
profit center restructuring and bottom line improvements are providing new challenges for organisations, corporate
governors and Internal Audit professionals. Global, regional and industry dynamics are changing constantly, with very significant impacts on organisation risks
and control systems. How can an organisation stay ‘in control’ in such challenging times?
Corporate Assurance services, in particular must make a value-adding contribution or it will become irrelevant.
This workshop provides practical guidance about improving organisation performance through better risk
management and control systems. Assurance on risk and control leads to better organisation performance.
There is confusion about the connection between risk management, assurance and control systems. The workshop
removes that confusion by providing a strategy for ‘Risk Assurance Services’ and practical guidance in best practices in risk assurance using relevant case
studies from Indian organisations. The workshop is designed to provide practical and personal assistance to
understand and apply these practices.
Coverage and Contents
Business Risk Management.
The Australia / New Zealand Risk Management Standard – 4360
provides a structured approach to managing exposures in organisations. It is not a ready to implement “how to” answer. Risk Management is as much an art as
it is a science and skillful Risk Manager brings with him a large knowledge base of risk incidents on a global scale with an ability to integrate apparently
disjointed events into a meaningful whole.
The Standard in its entirety will be explored using a case study,
which shall span a whole day covering all the facets of a risk management process. By the end of the day, the group shall be able to appreciate the finger
aspect of risk management process and be ready to take up risk management activity in their work environments.
Internal Control Systems
Internal control systems are building blocks that ensure that
the business is on tract at all times. It enables the business to be on autopilot with warning signals being given at appropriate times. Internal control
systems are a part of the professional literature since ages. Since the 1970’s, internal control has been assuming increasing importance around the world and
is becoming a regular matter for discussion by the regulatory bodies
Control frame works have been devised in US like COSO (Committee
of Sponsoring Organisations of the Treadway Commission – Internal Control – An Integrated Framework) and in Canada like CoCo (Criteria of Control) Specific
control frameworks have been drafted and published for the IT industry like COBIT 3rd Edition (Control Objectives for
Information and Related Technology).
The generic control standard – COCO (US) and CoCo (Canada) and also
appreciation of COBIT (ISACA, US) will be discussed.
Speakers
This workshop will be conducted by Mr. Deepjee Singhal & Mr.
Manish Pipalia
Methodology
Presentation, Case Studies
and group exercise.
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