Audit and management control [EFASM063]

Objectives

-Introduce the stakeholders of Governance, Risk Management, Control and Internal Audit: the Board of Directors, the actual Management, the shareholders, the management and the functions of Internal Control, Internal Audit, Compliance, Risk Management and Fraud -Present the principles of governance and describe the role of the 3 lines of defence in the governance process -Understand the concept of risk and the stages of risk management and identify the key business processes of an organisation -Identify the objectives, components and principles of the COSO internal control framework and present the main types and techniques of control -Describe the fundamentals of internal auditing: the IIA's International Professional Practices Framework and the basic principles of the audit plan and evidence and assurance and consulting engagements -Explain the missions, areas of activity and principles of the Compliance function as well as the key elements of an AML/CFT system -Present the fraud triangle and the principles of fraud risk management -Get students to think about the organisation, its stakeholders (internal and external) and perspectives -To enable students to apply, in a critical way, the concepts and tools seen in the course

Content

Introduction Part 1: Governance Part 2: Risk Management Part 3: Internal Control Part 4: Internal Audit Part 5: The Compliance function in the financial sector Part 6: Fraud risk management