Governance, Risk and Compliance

Business management knowledge acquired during the degree or resulting from professional experience.

Expository method to present themes, using technological means.

Method of joint analysis elaboration – discussion and resolution of practical cases that illustrate the different themes of the program.

 Investigative method through the preparation, presentation and discussion of group work.

The curricular unit has the following objectives:

• Contextualize the fundamental concepts and principles underlying Corporate Governance;
• Analyse Corporate Governance models and understand the role and responsibilities of the management body;
• Analyse supervision mechanisms and their effectiveness in promoting good Governance practices;
• Analyse the contribution of auditing to transparency and accountability;
• Study the concept of internal control and identify its objectives;
• Analyse and classify different types of internal control;
• Analyse the fundamental objectives and principles underlying internal auditing;
• Study the importance of audit independence and objectivity;
• Contextualize the planning, execution and conclusion of internal audits in accordance with ethical and professional standards;
• Know how to examine the results clearly and objectively;
• Know how to study constructive recommendations based on audit conclusions.

At the end of the curricular unit, students must have acquired the following skills:

• Evaluate Corporate Governance objectives for effective management;
• Relate the Governance structure with organizational performance;
• Evaluate management performance in Corporate Governance contexts;
• Describe the critical role of internal control in Corporate Governance;
• Understand the principles and practices of integrated risk management according to the COSO/ERM models;
• Apply these models to identify and assess organizational risks;
• Develop the ability to evaluate the efficiency and effectiveness of internal control;
• Propose improvements based on critical analysis;
• Recognize the importance of risk prevention, detection and management for organizational sustainability;
• Prepare effective reports on the status of internal control;
• Communicate results clearly and objectively;
• Develop capabilities to gather and analyse audit evidence;
• Demonstrate the ability to improve processes based on internal audits;
• Implement follow-up procedures to ensure the effectiveness of audit recommendations;
• Monitor internal controls.

I – Corporate Governance

1. Objectives and principles

2. Corporate Governance Model and responsibility of the management body

3. Performance of the management body and supervisory mechanisms

4. The role of internal control and auditing

II – Risk and internal control

1. Concept, objectives and types of internal control

2. Integrated risk management in COSO / ERM models

3. Assessment of internal control

4. Importance and need for risk prevention, detection and management

5. Internal control reporting

III – The internal audit process

1. General audit objectives and principles

2. Audit evidence

3. Planning, Execution, and Completion of the audit work

4. Recommendations

5. Follow-up

NAO

• Blokdyk, G. (2020). Governance, Risk and Compliance (GRC) a complete guide – 2021 Edition. 5STARCooks.

  Brasiliano, A. C. R. (2015). Gestão de risco de fraude. São Paulo: Sicurezza Editora.

  COSO (2017). ERM Framework Update – Enterprise Risk Management – Integrated Framework.

  COSO (2006). Internal Control over Financial Reporting – Guidance for Smaller Public Companies.

  COSO (2013). Internal control – Integrated Framewok.

  Instituto Português de Corporate Governance. (2018). Código de Governo das Sociedades, revisto em 2023. Lisboa: IPCG.

  Leitch, Matthew (2016). Intelligent Internal Control and Risk Management, Gower Publishing.

  Mitchell, S.L. (2007). GRC360: A framework to help organisations drive principled performance.

  Moeller, R. R. (2011). COSO Enterprise Risk Management: Establishing Effective Governance, Risk and Compliance Processes, 2nd edition. Wiley Corporate.

  Morais, G., & Martins, I. (2013). Auditoria interna – gestão e processo, 4ª edição. Editora Áreas.

  Mota, C., Queirós, M. (2022). Gestão de risco empresarial, uma abordagem integrada. Quantica Editora.

  Oliveira, A. P. (2017). Manual de Governo das Sociedades. Coimbra: Edições Almedina, SA.

  Pinto, J. C. (2014). A Emergência e o Futuro do Corporate Governance em Portugal. Coimbra: Almedina.

  Pinto, J. C. (2018). A Emergência e o Futuro do Corporate Governance em Portugal (Vol. II). Lisboa: CGOV

  Ramos, C. (2018). Gestão de riscos corporativos: Como integrar a gestão dos riscos com a estratégia, a governança e o controle interno? (portuguese edition). César Ramos & Cia Ltda.

  Rodrigues, R. A., & Soares, J. L. (2017). Insider Trading – do crime de abuso de informação privilegiada. Porto: Vida Económica – Editorial, SA.

  Silva, A. S., Vitorino, A., Alves, F., Cunha, J. & Monteiro, M. (2006). Livro Branco Sobre Corporate Governance em Portugal. Lisboa: Instituto Português de Corporate Governance.

  Shiller, R. J. (2015). A Ética das Finanças. Lisboa: Bertrand Editora.

  SITES úteis:

  • Banco de Portugal – https://clientebancario.bportugal.pt/pt-pt/
  • Comissão de Normalização Contabilística – http://www.cnc.min-financas.pt/
  • Committee of Sponsoring Organizations of the Treadway Commission (COSO) – https://www.coso.org/
  • Conselho Nacional de Supervisão e Auditoria – http://www.cmvm.pt/Old/CNSA/Pages/CNSA_int.aspx
  • Departamento Central de Investigação e Ação Penal – http://dciap.ministeriopublico.pt/pagina/corrupcao-ativa-e-passiva-e-participacao-economica-em-negocio-buscas
  • Instituto Português de Auditoria Interna – https://www.ipai.pt/index.php
  • Instituto Português de Corporate Governance – https://cgov.pt/
  • International Organization of Supreme Audit Institutions (INTOSAI) – http://www.intosai.org/
  • Normas Internacionais das Entidades Fiscalizadoras Superiores – http://www.issai.org/ – (ISSAI), traduzidas pelo Tribunal de Contas da União, em 2015
  • Observatório de Economia e Gestão de Fraude – https://www.gestaodefraude.eu/wordpress/
  • Ordem dos Revisores Oficiais de Contas – https://www.oroc.pt/