- NY Credits : 6.0
- TX Credits : 6.0
Enterprise Risk Management
Enterprise risk management (ERM) is the future of how businesses will be run. It is a process of managing risk across an entire company. ERM improves the way a company handles the more predictable risks that businesses face and allows companies to avoid bad investments and in turn make investments that otherwise might seem too risky. ERM is a framework that changes how everyone does her/his job.
Please be aware COSO is updating this framework with major changes expected in 2017 still to be released.
Upon completion of this course, the user should be able to:
identify the enterprise risk management framework,
recognize the various events and risks that can impact the achievement of organizational goals and objectives,
recognize the importance of top management's integrity and ethical values to the culture of the company,
identify internal control,
recognize the different categories of objectives and the concept of risk tolerance,
identify how a balanced scorecard works,
recognize the risk management process and define events,
identify event identification methodologies,
identify the likelihood and chances an event will occur and its impact on the organization,
recognize the different internal and external factors that impact events,
discuss how to assess and identify risk responses,
list the factors in identifying and measuring inherent risk,
explain the constraint on resources and the importance of cost-benefit analysis,
recognize the relevance and importance of information and communication as it relates to enterprise risk management,
identify the different types of internal controls,
recognize the importance of continuous monitoring and the internal audit function, and
recognize various organizational issues and challenges.