Risk Management and Internal Audit Course at Institute of Development Management (IDM)

Risk Management and Internal Audit Course at Institute of Development Management (IDM)

What is Risk Management and Internal Audit Course?

Risk management is a key part of the internal audit process, and it can be defined as “the identification and evaluation of risks to organizational objectives.” Internal auditors need to identify how changes in different areas could affect an organization’s ability to achieve its goals.

Risk Management and Internal Audit Course at Institute of Development Management (IDM)

This 3 days’ course offers an over view of the elements of a successful integrated risk management approach by reviewing best practices in public sector risk management and internal audits, from the adoption of enterprise risk management to the implementation of standards.

Frequently Asked Questions

What is risk management course all about?

Risk Management prepares financial experts who have the necessary knowledge, skills and experience to identify and evaluate risk factors, and to implement strategy plans to prevent or minimise losses. You will learn how to protect an organisation’s assets, income, employees, reputation and shareholders.

What is internal auditing course about?

This course helps you understand the basics of auditing. You’ll learn how to prepare, perform, report, and close an audit. It is ideal for new auditors, those preparing to be on an audit team, and people who will soon be audited and want to understand the auditing process.

What does risk internal audit do?

During the risk assessment process, Internal Auditing identifies and assesses both the likelihood and potential impact of various risks to the organization. Internal controls are then identified and evaluated to determine how adequate they are in reducing risk to ensure that residual risk is at manageable levels.

What are the benefits of internal audit in risk management?

The role of an internal audit is to provide assurance that a company’s risk management, governance, and internal control processes are operating effectively. Moreover, internal audits also prove to be a defence mechanism in detecting violations of laws, regulations, and provisions of contracts and agreements.

Is risk management a good career?

Not only can risk management represent a rewarding career, but the chances of earning a significant salary will improve over time. Given that this sector is growing at a breakneck pace, you can also enjoy more job security when compared to some other positions.

What is the benefit of risk management course?

The Benefits of Risk Management Certification and Accreditation. There are many benefits that come with gaining risk management certification or accreditation. You can increase your business’ reputability, appeal to more clients, and safeguard your business by ensuring compliance with important legislation.

Which subjects are required for risk management?

Subjects included in the course are mentioned for reference.

  • Principles of Management.
  • Principles of Accounting.
  • Managerial Statistics.
  • Legal Environment of Business.
  • Research Method.
  • Marketing Management.
  • Disaster Management.
  • Salesmanship.

Can internal audit and risk management be combined?

While internal audit may undertake the monitoring and advisory roles of risk management, they cannot then review the risk management function, and this would need to be performed independently.

What is risk management and audit?

The system is also designed to ensure compliance with relevant laws and regulations. The Company’s risk management and internal control system is designed to determine risks in relation to the achievement of business objectives and appropriate risk responses.

What are the types of internal audit?

Types of Internal audits include compliance audits, operational audits, financial audits, and an information technology audits.