Combined assurance is a co-ordinated approach that ensures all assurance activities provided by management, internal assurance providers, and external assurance providers adequately address significant risks facing an organisation, and suitable controls exist to mitigate these inherent risks to an acceptable level of residual risk.
Combined assurance involves the integration of assurance processes within an organisation in order to:
· maximise oversight of risk and governance and control efficiencies
· optimise the overall assurance provided to the audit committee
· reduce assurance overlap
· minimise assurance cost
· give due consideration to the organisation's risk appetite.
Combined assurance is about assurance providers working closer together to ensure the right amount of assurance, in the right areas, from people with the best skills, in the most cost-effective way possible.
Attendees should have an understanding of Risk Management and Assurance concepts in order to follow the terminology and methodology references.
Read through the case study material provided prior to the training.
Who should attend:
· All Assurance Providers
· Management (Governance related positions)
· Compliance Officers
· Internal Auditors
· Risk Managers
· Company Secretaries etc.
Member Early Bird rate: R 3,600 excl VAT / R4,140 incl VAT
Member Standard rate: R4,800 excl VAT / R5,520 incl VAT
Non-member Early Bird rate: R 3,960 excl VAT / R4,554 incl VAT
Non-member Standard rate: R5,280 excl VAT / R6,072 incl VAT
CPD: 12 hours
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
• 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