Audit Committee Best Practices
Rating:
English
Intermediate to Advanced
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Course Overview
The role of the Audit Committee as always been challenging but fruitful for a sound organization governance. Nevertheless, risks and expectations are increasing, leaving the Committee with more responsibilities and challenges.
To assist Audit Committee members in achieving their obligations, best practices are evolving to support them in:
→ Understanding the organization strategy to focus on key risks.
→ Setting a value-added calendar to avoid “audit gaps” and support reporting.
→ Understanding and supporting the internal audit and other assurance functions.
→ Managing ethics and fraud related issues.
During this engaging course, the participants will be able to discuss best practices and leave with comprehensive tools and approaches to apply in their organization.
To assist Audit Committee members in achieving their obligations, best practices are evolving to support them in:
→ Understanding the organization strategy to focus on key risks.
→ Setting a value-added calendar to avoid “audit gaps” and support reporting.
→ Understanding and supporting the internal audit and other assurance functions.
→ Managing ethics and fraud related issues.
During this engaging course, the participants will be able to discuss best practices and leave with comprehensive tools and approaches to apply in their organization.
Key Takeaways
1
Understand Audit Committee core responsibilities and Board expectations.
2
Review best practices and insure flawless implementation.
3
Discuss different approaches based on the organization maturity.
4
Use a comprehensive toolkit to improve Audit Committee performance.
LEORON - Professional Development Institute
LEORON is the leading corporate training and EdTech company in the EMEA region, with the most comprehensive learning and development solutions in all strategic corporate functions, including Corporate Finance, HR, Procurement and SCM, Technology, Quality, Operations and Engineering. Through instructor-led sessions, in-company training, and coaching, our faculty of experts deliver over 1200+ programs annually, while 25,000+ professionals are equipped with up-to-date relevant education and the latest tech solutions across the EMEA region.We help our valued clients with a wide range of services, including Training Needs Analysis, Competency Development and Assessment, and custom-built e-Learning solutions that cater to specific industries and knowledge areas.LEORON mission remains boosting competitiveness of our clients worldwide through continuous learning, while we strive to achieve our vision of becoming the best quality corporate training and EdTech Company in the EMEA and the world.Whether our clients are facing difficulties re-organising their brand, equipping their workforce with an extra set of skills or aiming to assess competencies within an existing structure, our development planning is a great solution.LEORON’s mission is to help our worldwide clients boost their competitiveness by improving the competency levels of their employees, through top quality training and development solutions delivered by unrivaled global experts and facilitated by the best training managers in the industry.
Course Outline
Section 1
Audit Committee Core Responsibilities
→ Evolution of the audit committee and it risks
→ Charter and key responsibilities
→ Committee composition and proficiency
→ Meetings and working agendas
→ Annual self-assessment
→ Charter and key responsibilities
→ Committee composition and proficiency
→ Meetings and working agendas
→ Annual self-assessment
Section 2
Financial Reporting and Disclosures
→ Reviewing quarterly and annual results (blind spots)
→ Management assessment of internal controls over financial reporting
→ Budget, forecasts, and other performance assessment
→ Management assessment of internal controls over financial reporting
→ Budget, forecasts, and other performance assessment
Section 3
Risk Management and Internal Control
→ Responsibilities over enterprise risk management process
→ Internal controls frameworks what works best
→ Compliance and other assurance functions
→ Information technology and cybersecurity
→ Internal controls frameworks what works best
→ Compliance and other assurance functions
→ Information technology and cybersecurity
Section 4
Oversight of the Internal Audit Function
→ Appointing the Chief Audit Executive with the right approach
→ Planning for priorities
→ Reviewing results and issues with management
→ Mastering the three lines of defense model
→ Supporting role for the Audit Committee
→ Planning for priorities
→ Reviewing results and issues with management
→ Mastering the three lines of defense model
→ Supporting role for the Audit Committee
Section 5
Oversight of External Auditors
→ Selecting process and practices
→ Materiality setting
→ Reviewing results and issues with management
→ Materiality setting
→ Reviewing results and issues with management
Section 6
Fraud and Ethics
→ Fiduciary responsibilities
→ Setting the tone at the top practices
→ Whistleblower
→ Setting the tone at the top practices
→ Whistleblower
Section 7
Reporting to the Board
→ Responsibilities, disclosure, and communication
Section 8
Five Key Focus for 2022
Who Should Attend?
This highly practical and interactive course has been specifically designed for
This training course is appropriate for senior auditors, audit executives and audit committee members seeking professional development to learn, enhance or implement best practices in their organization.
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FAQ
What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or [email protected]
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.
Reviews
- Review:ACBP Audit Committee Best PracticesDating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. AlsahaanDir L&D, Talent Management at Mobily, Etihad Etisalat Company
- Review:ACBP Audit Committee Best PracticesSince the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad AlrajihVP, Business Winning at BAE Systems Saudi Development & Training
- Review:ACBP Audit Committee Best PracticesWe have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. Leoron has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-SubaieSr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
- Review:ACBP Audit Committee Best PracticesIn recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal KutbiCountry Learning & Development Manager at IKEA Saudi Arabia
