Risk-Based Combined Assurance
and the New Normal 2021
14 - 16 July 2021
Register Now! Few Seats Available!
An effective way for companies to mitigate risk; is Combined Assurance. Combined assurance is the process of internal, and potentially external parties, working together to ensure that risks are well managed so that organizations can achieve their objectives.
Combined Assurance can enhance a company’s profitability and reassure the board that the controls meant to manage risk are adequate and effective. Meaning are they designed and working properly.
This training seeks to look at the role and contribution that effective risk management plays in ensuring the effectiveness of a combined assurance model and provide guidance on how to develop a model that is truly risk-based.
Benefits of combined assurance:
- Coordinated and relevant assurance efforts are directed to the risks that matter most.
- Commitment to enhance controls is demonstrated.
- Dashboards that provide an integrated, insightful view.
- Assurance activities produce valuable, integrated data, based on collaboration and not silos.
- Reduction in assurance costs through elimination of duplication and better resource allocation.
- Resources are not wasted on unnecessary duplication.
- A reduction in the repetition of reports by different committees, resulting in improved and more efficient reporting.
- A comprehensive and prioritized approach in tracking of remedial actions on identified opportunities/weaknesses.
- Clarity on risk and audit.
Specific learning outcomes of this short learning program are to:
- Describe the concept of combined assurance;
- Understand and identify the various role players and assurance providers in a combined assurance environment;
- Specify the role of internal audit in combined assurance
- Benefits, Barriers, and Challenges
- Critical Steps and Factors for Implementation
- What is the single biggest factor that enabled you to implement a combined assurance model?
- The Need to Coordinate Assurance Functions
- Developing your governance design skills whilst supporting your organisation in maximizing the value of its IT investments
- Understanding how COBIT 5® and other associated IT governance standards go hand in hand with the application of the King IV™ combined assurance approach
- Building an effective assurance model aligned with your GRC and assurance functions
- Empowering collaboration between cross functional stakeholders and diverse areas of management with a unified insight into the purpose and desired outcomes of their inputs
- Use the tools / templates available to structure a combined assurance framework, model and structure within an organisation; and
- Compile a combined assurance report.
- Chief Risk Officers,
- Risk Managers,
- Risk Champions,
- Internal Audit/Auditors
- Board Audit Committee and
- Board Risk Committee Members,
- Executive Risk Management.
- All participants in the organisational assurance processes including risk practitioners.
- Executive directors,
- non-executive directors,
- Exco members,
- Heads of Departments,
- General Managers,
- Senior Managers,
- Audit, Risk, Governance and Compliance
- IT, Information / Data
- Business Continuity, Business Recovery and Crisis Management Strategy
End of the workshop
IN HOUSE AND ONLINE TRAINING
While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.