3-hr Virtual Seminar: Overview of New Risk Oversight Expectations and Reporting Rules

Instructor: Tim J. Leech 
Product ID: 702705
Training Level: Intermediate
  • Duration: 3.5 hrs

Training CD

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This 3-hr virtual seminar will present an overview of new risk oversight expectations and reporting rules in place, and show how companies, risk managers and internal auditors can meet these regulatory expectations.

Why Should You Attend:

Post the 2008 global financial crisis, regulators in the U.S., Canada, U.K., Europe and elsewhere brought in new reporting rules that require public company boards acknowledge responsibility for risk oversight and describe what the company does to discharge that responsibility. These new risk oversight expectations have profound implications for all companies generally, and internal auditors and ERM personnel in particular.

This session overviews these developments, provides a detailed examination of current practices and presents practical methods and tools that companies, ERM specialists and internal auditors can use to best meet these expectations.

Learning Objectives:

  • Learn what public company regulators expect today related to risk management and oversight.
  • Learn why current risk and assurance methods are ill-equipped to meet these new expectations.
  • Learn new ERM and internal audit methods specifically designed to meet new IIA IPPF requirements and meet new board risk oversight expectations.

Areas Covered in the Seminar:

  • Evolution of senior management and board risk status oversight expectations
  • Specific regulatory requirements linked to risk oversight for U.S. and Canadian public companies
  • Analysis of the ability of current “supply driven” approaches to internal audit, risk and  assurance to meet the new expectations
  • Introduction to “risk appetite” “risk tolerance” and “residual risk status”
  • National Association of Corporate Directors (“NACD”) and Canadian Institute of Chartered Accountants board  risk oversight expectations and guidance
  • Demand Driven/Objective Centric approach to ERM – what is it and why it produces radically better results.
  • Implementing new approaches to support board risk oversight
  • Using an ISO 31000 compliant approach for ERM and Internal Audit

Who Will Benefit:

  • Chief audit executives
  • Internal audit directors/managers
  • ERM specialists
  • Corporate secretaries
  • CFOs and comptrollership staff responsible for risk and control specialists

Instructor Profile:

Tim J. Leech, FCPA, FCA, CIA, CRMA, CFE, CCSA is Managing Director Risk Oversight Inc. (“RO”) RO focuses on helping companies more effectively manage risk and assurance to meet escalating due diligence expectations and add real value. He has over 25 years of experience in the ERM, internal audit and forensic accounting fields, including expert witness testimony in civil and criminal proceedings and global experience helping public and private sector organizations with internal audit transformation initiatives and the design, implementation and maintenance of integrated GRC/ERM frameworks. He is the author of the December 2012 Conference Board Director Notes publication “Board Oversight of Management’s Risk Appetite and Tolerance” and the globally acknowledged white paper “The High Cost of ERM Herd Mentality”. A sample of clients he has provided services to include Mobil Oil, RBC, CIBC, Telstra, Boots Plc, Comptroller General Of Argentina, Telstra, British Airport Authority, SVG Capital, BellSouth, Farm Credit Canada, Treasury Board Secretariat, Institute of Management Accountants, Manulife, MBNA, National Bank, Potash Corporation, Independent Order of Foresters, Environment Canada, Ontario Provincial government, OPP, Rabobank, ABN Amro, Nordea, Scandia, Fortis, Transport Canada, Northern & Indian Affairs, Parks Canada, Shell, City of Detroit, Australian Taxation Authority, Tucson Electric, and many others.

In September 2009 Tim was awarded the first Canadian Outstanding Contributor to the Profession of Internal Auditing award in recognition of over 25 years of global service. In 1997 Leech was awarded the designation Fellow of the Institute of Chartered Accountants (FCPA/FCA) in recognition of his public service and contributions in the fields of risk and control management. Leech has provided training for tens of thousands of public and private sector professional accountants, auditors and risk management specialists in Canada, the U.S., the EU, Australia, South America, Africa and the Middle and Far East. He has received worldwide recognition as a pioneer, thought leader and trainer.

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