Governance, Risk and Control

TM1 – Expository on conceptual topics, but student-centred;
TM2 – Group dynamics with resolution of exercises and application and discussion of case studies.

Learning objectives (LO):
LO1. Contextualise Corporate Governance;
LO2. Analyse governance models and understand the role and responsibilities of the management body;
LO3. Analyse supervisory mechanisms and their effectiveness in promoting good governance practices;
LO4. Analyse risks, their management, assessment and monitoring;
LO5. Analyse the contribution of auditing to transparency and accountability;
LO6. Concept of internal control and its objectives;
LO7. Classify different types of internal control;
LO8. Analyse the objectives and principles of internal auditing and their relationship with GRC;
LO9. Contextualise the planning, execution and conclusion of internal audits;
LO10. Know how to analyse internal audit results and interpret recommendations.
Competences to be developed (C):
C1. Identify and apply CRM models;
C2. Assess and monitor risk management and internal controls to mitigate organisational risks and ensure appropriate governance.

P1. Corporate Governance
1.1 Objectives and principles
1.2 Corporate governance model and responsibility of the management body
1.3 Performance of the management body and supervisory mechanisms
1.4. The role of internal control and auditing
P2. Risk and its management
2.1 Concept, objectives and types of organisational risk
2.2 Risk management – responsibilities and modalities
2.3 Risk management evaluation and reporting
2.4 Risk management models and benchmarks (ERM, ISO)
P3. Internal control
3.1 Concept, objectives and types of internal control
3.2 Internal control models and benchmarks (COSO’s ICIF)
3.3 Evaluation and reporting of internal control
P4. The internal audit process
4.1. Objectives and general principles/guidelines for internal auditing
4.2 Audit evidence
4.3 Planning, execution and conclusion of audit work
4.4 Recommendations and Follow-up
4.5 Internal audit reporting

NAO