Event Details
Practical training course to understand and apply knowledge of compliance controls, control categorisation, effectiveness, efficiency and adequacy.
Course objectives:
To assist the learner:
• to define the term 'compliance control' in their own words, and understand how compliance controls feature in varying degrees across all the phases in the Compliance Risk Management Process (i.e. profile, Compliance Risk Management Plan (CRMP), monitoring, reporting phases);
• to provide an overview of the key attributes of a control (type, category, degree of automation, frequency) that should be included in the organisation's Standard Operating Procedures (SOPs) and CRMP;
• to use their understanding of control categories, types and levels of automation to provide value-adding advice to business on control enhancements and/or shifts in the control environment to ensure cost effectiveness and efficiency;
• to formulate robust compliance controls that will enhance the quality of CRMP's and ease the monitoring process;
• to use their knowledge of control attributes in compiling a CRMP; • to conduct the assessment of the Adequacy of a control and combination of controls to mitigate the risk of non-compliance to a provision of a compliance obligation by considering the efficiency, economy and existence of a control (practical methods and examples will be utilised);
• to conduct the Effectiveness of controls to mitigate the risk of non-compliance to a provision of a Compliance Obligation (practical examples will be utilised);
• to draft a control deficiency observation; and
• to determine the root cause for an observation.
Who should attend: We encourage Compliance Officers, Compliance Administrators and novices to compliance management or wanting to enter the compliance profession, or any other assurance provider from a combined assurance perspective to attend. The training programme would be ideal for those wishing to prepare for the Compliance Board Examinations, as it covers theoretical as well as practical aspects of the compliance control framework, especially as it relates to the CRMP and monitoring phases.
Investment:
Virtual
Member Early Bird rate: R 4,500 excl VAT / R5,1750 incl VAT
Member Standard rate: R6,000 excl VAT / R6,900 incl VAT
Non-member Early Bird rate: R 4,950 excl VAT / R5,693 incl VAT
Non-member Standard rate: R6,600 excl VAT / R7,590 incl VAT
Compliance Monitoring forms the final phase in the compliance risk management process. Monitoring closes the loop which completes the compliance cycle, it provides feedback on the effectiveness of the management of compliance risks and identifies areas of weakness that need to be improved or enhanced. It is therefore highly recommended that individuals should have completed the Introduction to Compliance Management and the Compliance Risk Management Plan courses before registering for the Compliance Monitoring course.
Course content will cover the following:
• Compliance Monitoring fits in as an element of the compliance process, a brief explanation of the compliance process and the development of Compliance Risk Management Plans (CRMPs).
• An overview of compliance monitoring, the need and objectives as well as consequences of noncompliance.
• Explaining the risk‐based compliance monitoring approach with controls.
• Types of Compliance Monitoring
• Monitoring Tools
• The Compliance Monitoring process
Outline of the Compliance Monitoring course:
• The methodology for the monitoring of compliance by regulators
• The methodology for compliance monitoring by management
• The methodology for compliance monitoring by the compliance officer
• The starting point of compliance monitoring
• Independent monitoring
• Effectivenessreviews
• Materiality Sampling
• Statisticalsampling and non-statisticalsampling
• Working papers
• The compliance reports
• Recommendations that should be addressed in the compliance report
• The review process and the relevant role players
• Issues Log
• The review process to evaluate the implementation of the Compliance Risk Management Plans throughout your organisation
Course Outline: https://docs.mymembership.co.za/docmanager/52c7b7c8-d6fc-4150-8d1a-7b85c1f7012e/00159665.pdf
