BUSINESS AUDITING
Syllabus
Obiettivi Formativi
L’'insegnamento si propone di fornire agli studenti le nozioni fondamentali sull'internal auditing e correlati aspetti di risk management e compliance… Scopo dell’'insegnamento è l’'introduzione al ruolo dell'Internal Audit come Trusted Advisor della Società, con crescenti responsabilità in virtù del missione di ultima linea di difesa di "assurance" e di "advisory", nell'ambito del sistema di controllo e gestione dei rischi. Gli studenti acquisiranno familiarità con: Internationals Frameworks (IC IF, ERM); Principali leggi e regolamenti internazionali in materia di governance e compliance (FCPA, SARBANES OXLEY, ANTIBRIBERY); International Professional Practices Frameworks Standard (IPPF).
CONOSCENZA E CAPACITÀ DI COMPRENSIONE:
Si richiede allo studente di comprendere come l'Internal Audit nella sua veste moderna può:
- Analizzare la coerenza tra la missione dell'organizzazione e i principi e i valori su cui si basa il codice etico dell'azienda;
- Valutare se l'adozione del piano strategico per quanto riguarda gli obiettivi di mercato e le performance economiche e finanziarie è supportata da un'adeguata gestione dei rischi d'impresa, se sono stati identificati, analizzati e gestiti i principali rischi aziendali che potrebbero minacciare il piano stesso;
- Implementare piani di audit ai fini del monitoraggio continuo della capacità dell'azienda di mitigare i rischi significativi.
Lo studente dovrà dimostrare la capacità di applicare tali concetti nell'ambito di casi pratici e project work
CAPACITÀ DI APPLICARE CONOSCENZA E COMPRENSIONE:
Si chiede di applicare e riconoscere gli ambiti di applicazione delle metodologie illustrate, attraverso: Case study su ERM con riferimenti a diversi tipi di aziende e settori; Esercitazioni e casi di studio su tipici incarichi di audit (audit sulle frodi, audit sugli approvvigionamenti, audit Hse, ecc.); la possibilità di dialogare con manager aziendali invitati al corso.
AUTONOMIA DI GIUDIZIO:
Lo studente al termine del corso avrà gli strumenti per esprimere un giudizio sull'adeguatezza e sulla operatività dei sistemi di controllo interno e di gestione dei rischi.
ABILITÀ COMUNICATIVE:
Si chiede di apprendere lo specifico linguaggio tecnico dell'audit, con particolare riferimento ai concetti di rischio e controllo. Ciò consentirà di simulare l'effettuazione di presentazioni, nella modalità di executive meeting, per illustrare aree di miglioramento relative a ERM e ICS con terminologia appropriata
CAPACITÀ DI APPRENDIMENTO:
Lo studente deve essere in grado di analizzare in modo critico situazioni concrete e casi di studio, lavorare in team e gestire scadenze rigorose, utilizzando un approccio professionale e disciplinato
Learning Objectives
The course is aimed to provide students with main concepts on internal auditing and related topics concerning risk management and compliance. The learning objective is introducing the new role of Internal audit as Trusted Advisor of the Company, with increasing responsibilities due to its Mission to be the ultimate line of defence with primarily ‘assurance’ ‘advisory' roles, among actors of corporate governance involved in the control system .This implies that the students became familiar to: International Frameworks (IC IF, ERM ); Main international laws and regulations concerning governance and compliance (FCPA, SARBANES OXLEY, ANTIBRIBERY); International Professional Practices Frameworks Standard (IPPF).
KNOWLEDGE AND UNDERSTANDING:
The student is asked to understand how Internal Audit in its modern context can:
- Analyze consistency between the mission of the organization and the principles and values that the company’s code of ethics is based on;
- Evaluate if the adoption of a strategic plan regarding market objectives and economic and financial performances is supported by adequate enterprise risks management, if major business risks that may threaten the plan itself have been identified, analyzed and appropriate responses have been defined;
- Implement audit plans as a moment of continuous monitoring of the firm’s ability to mitigate significant risks.
Students will have to demonstrate the ability to apply these concepts in practical cases and project works
APPLYING KNOWLEDGE AND UNDERSTANDING:
It will be required to to apply and recognize the areas of application of the illustrated methodologies, through: Case studies on ERM with references to different type of companies and industries; Exercise and case studies on tipycal “audit cases” (Fraud audit, Procurement audit, Hse audit etc); interaction with managers invited as speakers.
MAKING JUDGEMENTS:
Students will be able to sxpress opinion on the adequacy and functioning of internal control and risk management systems
COMMUNICATION SKILLS:
Students are asked to learn the technical language and taxonomies of internal audit, with particular reference to the concepts of risk and control. This ability will allow simulating the execution of presentations, such as executive meeting , to illustrate areas of improvement of ERM and ICS system
LEARNING SKILLS:
The student must be able to critically analyze concrete situations and case studies, work in a team and manage rigorous deadlines, using a professional and disciplined approach
Prerequisiti
Prerequisites
Programma
Sessione uno: Definizioni preliminari di rischio: Il Global Risk Report.
Sessione due: I Framework di riferimento: COSO Report Internal Control Integrated Framework.
Sessione tre: I Framework di riferimento - COSO Report ERM Enterprise Risk Management: panoramica ed introduzione all'ESG (Enviroment Sustainability e Governance)
Sessione quattro: Risk Management ed Internal Audit - Sinergie per la creazione del valore
Sessione cinque: Missione e compito della funzione di internal auditing.
Sessione sei: The IPPF: The International Professional Practices Framework for Internal Auditors.
Sessione sette: Attività di internal audit: dalla pianificazione all'implementazione.
Sessione otto: IT Risk: focus su Cyber Security, privacy e digitalizzazione
Sessione nove: Principali leggi e regolamenti internazionali in materia di governance, rischio e controllo: riferimenti istituzionali per l'internal auditor.
Sessione dieci: Audit sulle frodi.
Sessione undici: Concetti di base e case study su incarichi di audit su HSE ed ESG e su gestione procurement
Sessione dodici: Trasferimento del rischio, Caso di studio sul ruolo del broker assicurativo + Internal Audit e Gestione delle Emergenze
Program
Session One: Some preliminary definitions of risk: The Global Risks Report.
Session Two: The Analytical Framework: Internal Control Integrated Framework An Overview.
Session Three: The Analytical Framework: Enterprise Risk Management – An Overview and preliminary survey on ESG topics
Session four: Risk Management & Internal Audit - Sinergies for creating value
Session five: Mission and task of Internal Audit.
Session Six: The IPPF: The International Professional Practices Framework for Internal Auditors.
Session seven: Internal Audit Activity: From planning to implementation.
Session Eight: IT RISK - Focus on Cybersecurity, Privacy and Digitalization
Session Nine: Main International Laws & Regulations on Governance, Risk, and Control: Institutional references for Internal Auditor.
Session Ten: Fraud Audit.
Session Eleven: Basic Concepts and Case study on HSE audit and ESG + Procurement Audit.
Session Twelve: Risk transfer - Case study on the role of insurance broker + The role of IA in Crisis Management and Business Continuity Management
Testi Adottati
Books
Bibliografia
- Committee Organizations of the Tradeway Commission (COSO) Enterprise Risk Management, Integrated Framework, sept 2004 – Part one (Executive Summary and Framework).
- Committee Organizations of the Tradeway Commission COSO), Enterprise Risk Management. Integrating with Strategy and Performance, june 2017 (Executive Summary).
Letture consigliate:
- Risk and Control Governance – A value creation perspective” di Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) pubblicato a January 2017 da Editoriale Scientifica. web link:http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Bibliography
- Committee Organizations of the Tradeway Commission (COSO) Enterprise Risk Management, Integrated Framework, sept 2004 – Part one (Executive Summary and Framework).
- Committee Organizations of the Tradeway Commission COSO), Enterprise Risk Management. Integrating with Strategy and Performance, june 2017 (Executive Summary).
Suggested Reading:
- Risk and Control Governance – A value creation perspective” by Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) edited in January 2017 by Editoriale Scientifica. web link:http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, as part of puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Modalità di svolgimento
Teaching methods
Regolamento Esame
Il punteggio è determinato da:
-2,0 punti per ogni risposta corretta a 10 domande multiple
-5,0 punti (massimo) per ogni domanda a scelta aperta
La lode sarà data se sono corrette tutte le risposte alle domande multiple e se le risposte alle domande aperte sono eccellenti
Exam Rules
The score is determined by:
-2.0 points for each correct answer to 10 multiple questions
-5.0 points (maximum) for each open choice questions
Laude will be given for all correct answers to mp questions and excellent answers to open questions.
Obiettivi Formativi
L’'insegnamento si propone di fornire agli studenti le nozioni fondamentali sull'internal auditing e correlati aspetti di risk management e compliance… Scopo dell’'insegnamento è l’'introduzione al ruolo dell'Internal Audit come Trusted Advisor della Società, con crescenti responsabilità in virtù del missione di ultima linea di difesa di "assurance" e di "advisory", nell'ambito del sistema di controllo e gestione dei rischi. Gli studenti acquisiranno familiarità con: Internationals Frameworks (IC IF, ERM); Principali leggi e regolamenti internazionali in materia di governance e compliance (FCPA, SARBANES OXLEY, ANTIBRIBERY); International Professional Practices Frameworks Standard (IPPF).
CONOSCENZA E CAPACITÀ DI COMPRENSIONE:
Si richiede allo studente di comprendere come l'Internal Audit nella sua veste moderna può:
- Analizzare la coerenza tra la missione dell'organizzazione e i principi e i valori su cui si basa il codice etico dell'azienda;
- Valutare se l'adozione del piano strategico per quanto riguarda gli obiettivi di mercato e le performance economiche e finanziarie è supportata da un'adeguata gestione dei rischi d'impresa, se sono stati identificati, analizzati e gestiti i principali rischi aziendali che potrebbero minacciare il piano stesso;
- Implementare piani di audit ai fini del monitoraggio continuo della capacità dell'azienda di mitigare i rischi significativi.
Lo studente dovrà dimostrare la capacità di applicare tali concetti nell'ambito di casi pratici e project work
CAPACITÀ DI APPLICARE CONOSCENZA E COMPRENSIONE:
Si chiede di applicare e riconoscere gli ambiti di applicazione delle metodologie illustrate, attraverso: Case study su ERM con riferimenti a diversi tipi di aziende e settori; Esercitazioni e casi di studio su tipici incarichi di audit (audit sulle frodi, audit sugli approvvigionamenti, audit Hse, ecc.); la possibilità di dialogare con manager aziendali invitati al corso.
AUTONOMIA DI GIUDIZIO:
Lo studente al termine del corso avrà gli strumenti per esprimere un giudizio sull'adeguatezza e sulla operatività dei sistemi di controllo interno e di gestione dei rischi.
ABILITÀ COMUNICATIVE:
Si chiede di apprendere lo specifico linguaggio tecnico dell'audit, con particolare riferimento ai concetti di rischio e controllo. Ciò consentirà di simulare l'effettuazione di presentazioni, nella modalità di executive meeting, per illustrare aree di miglioramento relative a ERM e ICS con terminologia appropriata
CAPACITÀ DI APPRENDIMENTO:
Lo studente deve essere in grado di analizzare in modo critico situazioni concrete e casi di studio, lavorare in team e gestire scadenze rigorose, utilizzando un approccio professionale e disciplinato
Learning Objectives
The course is aimed to provide students with main concepts on internal auditing and related topics concerning risk management and compliance. The learning objective is introducing the new role of Internal audit as Trusted Advisor of the Company, with increasing responsibilities due to its Mission to be the ultimate line of defence with primarily ‘assurance’ ‘advisory' roles, among actors of corporate governance involved in the control system .This implies that the students became familiar to: International Frameworks (IC IF, ERM ); Main international laws and regulations concerning governance and compliance (FCPA, SARBANES OXLEY, ANTIBRIBERY); International Professional Practices Frameworks Standard (IPPF).
KNOWLEDGE AND UNDERSTANDING:
The student is asked to understand how Internal Audit in its modern context can:
- Analyze consistency between the mission of the organization and the principles and values that the company’s code of ethics is based on;
- Evaluate if the adoption of a strategic plan regarding market objectives and economic and financial performances is supported by adequate enterprise risks management, if major business risks that may threaten the plan itself have been identified, analyzed and appropriate responses have been defined;
- Implement audit plans as a moment of continuous monitoring of the firm’s ability to mitigate significant risks.
Students will have to demonstrate the ability to apply these concepts in practical cases and project works
APPLYING KNOWLEDGE AND UNDERSTANDING:
It will be required to to apply and recognize the areas of application of the illustrated methodologies, through: Case studies on ERM with references to different type of companies and industries; Exercise and case studies on tipycal “audit cases” (Fraud audit, Procurement audit, Hse audit etc); interaction with managers invited as speakers.
MAKING JUDGEMENTS:
Students will be able to sxpress opinion on the adequacy and functioning of internal control and risk management systems
COMMUNICATION SKILLS:
Students are asked to learn the technical language and taxonomies of internal audit, with particular reference to the concepts of risk and control. This ability will allow simulating the execution of presentations, such as executive meeting , to illustrate areas of improvement of ERM and ICS system
LEARNING SKILLS:
The student must be able to critically analyze concrete situations and case studies, work in a team and manage rigorous deadlines, using a professional and disciplined approach
Prerequisiti
Prerequisites
Programma
Sessione uno: Definizioni preliminari di rischio: Il Global Risk Report.
Sessione due: I Framework di riferimento: COSO Report Internal Control Integrated Framework.
Sessione tre: I Framework di riferimento - COSO Report ERM Enterprise Risk Management: panoramica ed introduzione all'ESG (Enviroment Sustainability e Governance)
Sessione quattro: Risk Management ed Internal Audit - Sinergie per la creazione del valore
Sessione cinque: Missione e compito della funzione di internal auditing.
Sessione sei: The IPPF: The International Professional Practices Framework for Internal Auditors.
Sessione sette: Attività di internal audit: dalla pianificazione all'implementazione.
Sessione otto: IT Risk: focus su Cyber Security, privacy e digitalizzazione
Sessione nove: Principali leggi e regolamenti internazionali in materia di governance, rischio e controllo: riferimenti istituzionali per l'internal auditor.
Sessione dieci: Audit sulle frodi.
Sessione undici: Concetti di base e case study su incarichi di audit su HSE ed ESG e su gestione procurement
Sessione dodici: Trasferimento del rischio, Caso di studio sul ruolo del broker assicurativo + Internal Audit e Gestione delle Emergenze
Program
Session One: Some preliminary definitions of risk: The Global Risks Report.
Session Two: The Analytical Framework: Internal Control Integrated Framework An Overview.
Session Three: The Analytical Framework: Enterprise Risk Management – An Overview and preliminary survey on ESG topics
Session four: Risk Management & Internal Audit - Sinergies for creating value
Session five: Mission and task of Internal Audit.
Session Six: The IPPF: The International Professional Practices Framework for Internal Auditors.
Session seven: Internal Audit Activity: From planning to implementation.
Session Eight: IT RISK - Focus on Cybersecurity, Privacy and Digitalization
Session Nine: Main International Laws & Regulations on Governance, Risk, and Control: Institutional references for Internal Auditor.
Session Ten: Fraud Audit.
Session Eleven: Basic Concepts and Case study on HSE audit and ESG + Procurement Audit.
Session Twelve: Risk transfer - Case study on the role of insurance broker + The role of IA in Crisis Management and Business Continuity Management
Testi Adottati
Books
Bibliografia
- Committee Organizations of the Tradeway Commission (COSO) Enterprise Risk Management, Integrated Framework, sept 2004 – Part one (Executive Summary and Framework).
- Committee Organizations of the Tradeway Commission COSO), Enterprise Risk Management. Integrating with Strategy and Performance, june 2017 (Executive Summary).
Letture consigliate:
- Risk and Control Governance – A value creation perspective” di Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) pubblicato a January 2017 da Editoriale Scientifica. web link:http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Bibliography
- Committee Organizations of the Tradeway Commission (COSO) Enterprise Risk Management, Integrated Framework, sept 2004 – Part one (Executive Summary and Framework).
- Committee Organizations of the Tradeway Commission COSO), Enterprise Risk Management. Integrating with Strategy and Performance, june 2017 (Executive Summary).
Suggested Reading:
- Risk and Control Governance – A value creation perspective” by Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) edited in January 2017 by Editoriale Scientifica. web link:http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, as part of puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Modalità di svolgimento
Teaching methods
Regolamento Esame
Il punteggio è determinato da:
-2,0 punti per ogni risposta corretta a 10 domande multiple
-5,0 punti (massimo) per ogni domanda a scelta aperta
La lode sarà data se sono corrette tutte le risposte alle domande multiple e se le risposte alle domande aperte sono eccellenti
Exam Rules
The score is determined by:
-2.0 points for each correct answer to 10 multiple questions
-5.0 points (maximum) for each open choice questions
Laude will be given for all correct answers to mp questions and excellent answers to open questions.
Updated A.Y. 2019-2020
Updated A.Y. 2019-2020
- Updated A.Y. 2019-2020
- Overview
The goal of this course is to introduce some preliminary observations on the models, norms, and standards that may guide students when initially carrying out their work activities or services of Internal Auditing. The reference to the notion of business, the curriculum that this course is part, contributes to encouraging a focus on the links between enterprises’ strategic contexts and the auditing activities exercised in these contexts, thus, leaving aside the specific technicalities related to these activities.
- Pre-requisites for the course
(specificare se e quali sono i prerequisiti richiesti per accedere al corso)
- Learning objectives
The learning objectives are focused to the increasing responsibilities assigned to Internal Audit (IA) due to the primarily required ‘assurance’ function of IA, which also coincides with that of ‘advisory', among actors of corporate governance involved in the control system .This implies that the students became familiar to :Internationals analytical Frameworks (COSO I , ERM COSO II); Main international laws and regulations concerning governance and compliance (FCPA, SARBANES OXLEY, ANTIBRIBERY); International Professional Practices Frameworks Standard (IPPF).
Knowledge and Understanding: Analyze consistency between the mission of the organization and the principles and values that the company’s code of ethics is based on; Evaluate if the adoption of a strategic plan regarding market objectives and economic and financial performances is supported by adequate enterprise risks management, if major business risks that may threaten the plan itself have been identified, analyzed and appropriate responses have been defined; Know how to improve audit plans as a moment of continuous monitoring of the firm’s ability to mitigate significant risks.
Applying Knowledge and Understanding: Case studies on ERM with references to different type of companies and industries; Exercise and case studies on tipycal “audit cases” (Fraud audit, Procurement audit, Hse audit etc) illustrated by testimonials invited as speakers at the course.
Making Judgements: Express opinion adequately on the operations and appropriateness of internal control systems and risk management.
Communication Skills: Introducing and discussing about ERM (enterprise risk management) and ICS (internal control system) issues with appropriate vocabulary.
Learning Skills: Analyzing in a critical way concrete situations and case studies, working in team and managing strict deadline.
- Program
The course will be structured according to the following Session:
Session One
Some preliminary definitions of risk: The Global Risks Report.
Session Two
The Analytical Framework: Integrated Internal Control & Enterprise Risk Management – An Overview.
Session Three
The Analytical Framework: Enterprise Risk Management – An Overview.
Session four
Mission and task of Internal Audit.
Session five
Focus on ERM.
Session Six
The IPPF: The International Professional Practices Framework for Internal Auditors.
Session Seven
ERM and IT RISK.
Session Eight
Main International Laws & Regulations on Governance, Risk, and Control: Institutional references for Internal Auditor.
Session Nine
Internal Audit Activity: From planning to implementation.
Session Ten
Fraud Audit.
Session Eleven
Basic Concepts and Case study on HSE audit and Procurement Audit.
Session Twelve
Risk transfer - Case study on Risk transfer - The role of insurance broker.
- Teaching methods
The course will be based on: academic lectures, exercises, case studies and lectures by practitioners.
- References
The basic reference are:
• “Committee Organizations of the Tradeway Commission (COSO) Enterprise Risk Management, Integrated Framework, sept 2004 – Part one (Executive Summary and Framework).
• “Committee Organizations of the Tradeway Commission COSO), Enterprise Risk Management. Integrating with Strategy and Performance, june 2017 (Executive Summary).
Suggested Reading:
• “Risk and Control Governance – A value creation perspective” by Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) edited in January 2017 by Editoriale Scientifica. web link:http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, as part of puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Learning Material by the teacher and testimonials will be illustrated during the course and made available for the students in the course web site.
Updated A.Y. 2018-2019
Updated A.Y. 2018-2019
- Overview
The goal of this course is to introduce some preliminary observations on the models, norms, and standards that may guide students when initially carrying out their work activities or services of Internal Auditing. The reference to the notion of business, the curriculum that this course is part, contributes to encouraging a focus on the links between enterprises’ strategic contexts and the auditing activities exercised in these contexts, thus, leaving aside the specific technicalities related to these activities.
- Learning objectives
The learning objectives are focused to the increasing responsibilities assigned to Internal Audit (IA) due to the primarily required ‘assurance’ function of IA, which also coincides with that of ‘advisory', among actors of corporate governance involved in the control system .This implies that the students became familiar to :Internationals analytical Frameworks (COSO I , ERM COSO II); Main international laws and regulations concerning governance and compliance (FCPA, SARBANES OXLEY, ANTIBRIBERY); International Professional Practices Frameworks Standard (IPPF).
Knowledge and Understanding: Analyze consistency between the mission of the organization and the principles and values that the company’s code of ethics is based on; Evaluate if the adoption of a strategic plan regarding market objectives and economic and financial performances is supported by adequate enterprise risks management, if major business risks that may threaten the plan itself have been identified, analyzed and appropriate responses have been defined; Know how to improve audit plans as a moment of continuous monitoring of the firm’s ability to mitigate significant risks.
Applying Knowledge and Understanding: Case studies on ERM with references to different type of companies and industries; Exercise and case studies on tipycal “audit cases” (Fraud audit, Procurement audit, Hse audit etc) illustrated by testimonials invited as speakers at the course.
Making Judgements: Express opinion adequately on the operations and appropriateness of internal control systems and risk management.
Communication Skills: Introducing and discussing about ERM (enterprise risk management) and ICS (internal control system) issues with appropriate vocabulary.
Learning Skills: Analyzing in a critical way concrete situations and case studies, working in team and managing strict deadline.
- Program
The course will be structured according to the following Session:
Session One Some preliminary definitions of risk: The Global Risks Report.
Session Two The Analytical Framework: Integrated Internal Control & Enterprise Risk Management – An Overview.
Session Three The Analytical Framework: Enterprise Risk Management – An Overview.
Session four Mission and task of Internal Audit.
Session five Focus on ERM.
Session Six The IPPF: The International Professional Practices Framework for Internal Auditors.
Session Seven ERM and IT RISK.
Session Eight Main International Laws & Regulations on Governance, Risk, and Control: Institutional references for Internal Auditor.
Session Nine Internal Audit Activity: From planning to implementation.
Session Ten Fraud Audit.
Session Eleven Basic Concepts and Case study on HSE audit and Procurement Audit.
Session Twelve Risk transfer - Case study on Risk transfer - The role of insurance broker.
- Teaching methods The course will be based on: academic lectures, exercises, case studies and lectures by practitioners.
- References The basic reference are:
• “Committee Organizations of the Tradeway Commission (COSO) Enterprise Risk Management, Integrated Framework, sept 2004 – Part one (Executive Summary and Framework).
• “Committee Organizations of the Tradeway Commission COSO), Enterprise Risk Management. Integrating with Strategy and Performance, june 2017 (Executive Summary).
Suggested Reading:
• “Risk and Control Governance – A value creation perspective” by Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) edited in January 2017 by Editoriale Scientifica. web link:http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, as part of puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Learning Material by the teacher and testimonials will be illustrated during the course and made available for the students in the course web site.
Updated A.Y. 2017-2018
Updated A.Y. 2017-2018
Overview
The goal of this course is to introduce some preliminary observations on the models, norms, and standards that may guide students when initially carrying out their work activities or services of Internal Auditing. The reference to the notion of business, the curriculum that this course is part, contributes to encouraging a focus on the links between enterprises’ strategic contexts and the auditing activities exercised in these contexts, thus, leaving aside the specific technicalities related to these activities.
Learning Objectives
The learning objectives are focused to the increasing responsibilities assigned to Internal Audit (IA) due to the primarily required ‘assurance’ function of IA, which also coincides with that of ‘advisory,' among actors of corporate governance involved in the control system .This implies that the students became familiar to :Internationals analytical Frameworks ( COSO I , ERM COSO II ) ; Main international laws and regulations concerning governance and compliance ( FCPA ,SARBANES OXLEY ,ANTIBRIBERY); International Professional Practices Frameworks Standard ( IPPF) .
Knowledge and Understanding
Analyse consistency between the mission of the organization and the principles and values that the company’s code of ethics is based on.
Evaluate if the adoption of a strategic plan regarding market objectives and economic and financial performances is supported by adequate enterprise risks management , if major business risks that may threaten the plan itself have been identified, analyzed and appropriate responses have been defined.
Know how to improve audit plans as a moment of continuous monitoring of the firm’s ability to mitigate significant risks.
Applying Knowledge and Understanding
Case studies on ERM with references to differents type of companies and industries
Exercise and case studies on tipycal “audit cases” ( Fraud audit , Procurement audit , Hse audit etc )illustrated by testimonials invited as speakers at the course
Making Judgements
Express opinion adequately on the operations and appropriateness of internal control systems and risk management
Communication Skills
Introducing and discussing about ERM ( enterprise risk management ) and ICS ( internal control system) issues with appropriate vocabulary.
Learning Skills
Analyzing in a critical way concrete situations and case studies, working in team and managing strict deadline.
Exam Rules
The exam is based on 10 questions multiple choices (mp) and two open questions . 6 of the ten mp questions are based on knowledge of :
(COSO) Enterprise Risk Management ,Integrated Framework , sept 2004 – Part one ( Executive Summary and Framework ) .
The last four mp questions and the two open questions are based on :
Learning Material illustrated during the course and made available for the students in the course web site .
The score is determinated by:
- 2,5 points for each correct answer to first 6 mp questions;
-1,5 points for each correct answer to last 4 mp questions;
-4,5 points ( as a maximum ) for each open choice questions.
Laude will be given for all correct answers to mp questions and eccellent answers to open questions .
“
Program
Session One
Some preliminary definitions of risk: The Global Risks Report
Session Two
The Analytical Framework: Integrated Internal Control & Enterprise Risk Management – An Overview
Session Three
The IPPF: The International Professional Practices Framework for Internal Auditors
Session four
Case Studies on ERM – The role of the risk manager
Session five
ERM and IT RISK - Case Study on IT AUDIT
Session Six
Main International Laws & Regulations on Governance, Risk, and Control: Institutional references for Internal Auditor
Session Seven
Internal Audit Activity: From planning to implementation
Session Eight
Basic Concepts and Case study on fraud audit
Session Nine
Risk transfer - Case study on Risk transfer - The role of insurance broker
Session Ten
Basic Concepts and Case study on HSE audit and Procurement Audit
Risk and Control System . Final review in a value creation perspective
Teaching Methods and Materials
The basic reference is “Committee Organizations of the Tradeway Commission ( COSO) Enterprise Risk Management ,Integrated Framework , sept 2004 – Part one ( Executive Summary and Framework ) .
Suggested Reading
“Risk and Control Governance – A value creation perspective“ by Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) edited in January 2017 by Editoriale Scientifica. web link :http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, as part of puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Learning Material by the teacher and testimonials will be illustrated during the course and made available for the students in the course web site .
Updated A.Y. 2016-2017
Updated A.Y. 2016-2017
Overview
The goal of this course is to introduce some preliminary observations on the models, norms, and standards that may guide students when initially carrying out their work activities or services of Internal Auditing. The reference to the notion of business, the curriculum that this course is part, contributes to encouraging a focus on the links between enterprises’ strategic contexts and the auditing activities exercised in these contexts, thus, leaving aside the specific technicalities related to these activities.
Learning Objectives
The learning objectives are focused to the increasing responsibilities assigned to Internal Audit (IA) due to the primarily required ‘assurance’ function of IA, which also coincides with that of ‘advisory,' among actors of corporate governance involved in the control system .This implies that the students became familiar to :Internationals analytical Frameworks ( COSO I , ERM COSO II ) ; Main international laws and regulations concerning governance and compliance ( FCPA ,SARBANES OXLEY ,ANTIBRIBERY); International Professional Practices Frameworks Standard ( IPPF) .
Knowledge and Understanding
- Analyse consistency between the mission of the organization and the principles and values that the company’s code of ethics is based on.
- Evaluate if the adoption of a strategic plan regarding market objectives and economic and financial performances is supported by adequate enterprise risks management , if major business risks that may threaten the plan itself have been identified, analyzed and appropriate responses have been defined.
- Know how to improve audit plans as a moment of continuous monitoring of the firm’s ability to mitigate significant risks.
Applying Knowledge and Understanding
- Case studies on ERM with references to differents type of companies and industries
- Exercise and case studies on tipycal “audit cases” ( Fraud audit , Procurement audit , Hse audit etc )illustrated by testimonials invited as speakers at the course
Making Judgements
- Express opinion adequately on the operations and appropriateness of internal control systems and risk management
Communication Skills
- Introducing and discussing about ERM ( enterprise risk management ) and ICS ( internal control system) issues with appropriate vocabulary.
Learning Skills
-
Analyzing in a critical way concrete situations and case studies, working in team and managing strict deadline.
Exam Rules
The exam is based on 10 questions multiple choices (mp) and two open questions . 6 of the ten mp questions are based on knowledge of :
(COSO) Enterprise Risk Management ,Integrated Framework , sept 2004 – Part one ( Executive Summary and Framework ) .
The last four mp questions and the two open questions are based on :
Learning Material illustrated during the course and made available for the students in the course web site .
The score is determinated by:
- 2,5 points for each correct answer to first 6 mp questions;
-1,5 points for each correct answer to last 4 mp questions;
-4,5 points ( as a maximum ) for each open choice questions.
Laude will be given for all correct answers to mp questions and eccellent answers to open questions .
“
Program
Session One
Some preliminary definitions of risk: The Global Risks Report
Session Two
The Analytical Framework: Integrated Internal Control & Enterprise Risk Management – An Overview
Session Three
Insight into risk management : risk transfer to insurance and the role of broker
Session four
The IPPF: The International Professional Practices Framework for Internal Auditors
Session five
Case Studies on ERM – The role of the risk manager
Session Six
Main International Laws & Regulations on Governance, Risk, and Control: Institutional references for Internal Auditor
Session Seven
Internal Audit Activity: From planning to implementation
Session Eight
Basic Concepts and Case study on fraud audit
Session Nine
Basic Concepts and Case study on HS audit and Procurement Audit
Session TenRisk and Control Governance . Final review in a value creation perspective
Teaching Methods and Materials
The basic reference is “Committee Organizations of the Tradeway Commission ( COSO) Enterprise Risk Management ,Integrated Framework , sept 2004 – Part one ( Executive Summary and Framework ) .
Suggested Reading
“Risk and Control Governance – A value creation perspective“ by Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) edited in January 2017 by Editoriale Scientifica. web link :http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, as part of puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Learning Material by the teacher and testimonials will be illustrated during the course and made available for the students in the course web site .
Updated A.Y. 2015-2016
Updated A.Y. 2015-2016
Overview
The goal of this course is to introduce some preliminary observations on the models, norms, and standards that may guide students when initially carrying out their work activities or services of Internal Auditing. The reference to the notion of business, the curriculum that this course is part, contributes to encouraging a focus on the links between enterprises’ strategic contexts and the auditing activities exercised in these contexts, thus, leaving aside the specific technicalities related to these activities.
Learning Objectives
The learning objectives are focused to the increasing responsibilities assigned to Internal Audit (IA) due to the primarily required ‘assurance’ function of IA, which also coincides with that of ‘advisory,' among actors of corporate governance involved in the control system .This implies that the students became familiar to :Internationals analytical Frameworks ( COSO I , ERM COSO II ) ; Main international laws and regulations concerning governance and compliance ( FCPA ,SARBANES OXLEY ,ANTIBRIBERY); International Professional Practices Frameworks Standard ( IPPF) .
Knowledge and Understanding
- Analyse consistency between the mission of the organization and the principles and values that the company’s code of ethics is based on.
- Evaluate if the adoption of a strategic plan regarding market objectives and economic and financial performances is supported by adequate enterprise risks management , if major business risks that may threaten the plan itself have been identified, analyzed and appropriate responses have been defined.
- Know how to improve audit plans as a moment of continuous monitoring of the firm’s ability to mitigate significant risks.
Applying Knowledge and Understanding
- Case studies on ERM with references to differents type of companies and industries
- Exercise and case studies on tipycal “audit cases” ( Fraud audit , Procurement audit , Hse audit etc )illustrated by testimonials invited as speakers at the course
Making Judgements
- Express opinion adequately on the operations and appropriateness of internal control systems and risk management
Communication Skills
- Introducing and discussing about ERM ( enterprise risk management ) and ICS ( internal control system) issues with appropriate vocabulary.
Learning Skills
-
Analyzing in a critical way concrete situations and case studies, working in team and managing strict deadline.
Program
Session One
Some preliminary definitions of risk: The Global Risks Report
Session Two
The Analytical Framework: Integrated Internal Control & Enterprise Risk Management – An Overview
Session Three
Insight into risk management : risk transfer to insurance and the role of broker
Session four
The IPPF: The International Professional Practices Framework for Internal Auditors
Session five
Case Studies on ERM – The role of the risk manager
Session Six
Main International Laws & Regulations on Governance, Risk, and Control: Institutional references for Internal Auditor
Session Seven
Internal Audit Activity: From planning to implementation
Session Eight
Basic Concepts and Case study on fraud audit
Session Nine
Basic Concepts and Case study on HS audit and Procurement Audit
Session TenRisk and Control Governance . Final review in a value creation perspective
Teaching Methods and Materials
The basic reference is “Committee Organizations of the Tradeway Commission ( COSO) Enterprise Risk Management ,Integrated Framework , sept 2004 – Part one ( Executive Summary and Framework ) .
Suggested Reading
“Risk and Control Governance – A value creation perspective“ by Fabio Accardi (Preface, Alessandro De Nicola; Introduction Vincenzo Atella; Afterword, Saverio Bozzolan; Series Editor’s Preface, Luigi Maria Sicca) edited in January 2017 by Editoriale Scientifica. web link :http://www.editorialescientifica.com/shop/catalogo/libri-in-lingua-straniera/risk-and-control-governance-detail.html, as part of puntOorg book series (General Editor Luigi Maria Sicca) www.puntoorg.net
Learning Material by the teacher and testimonials will be illustrated during the course and made available for the students in the course web site .