Practical Seminar Effective Risk Management and Internal Control in Public Institutions – Integrated Approach
Risk Management Cycle • Practical Use of Tools and Standards • Detecting Weaknesses in Control Processes
Nowadays public sector institutions face several risks. Whether they are internal or external, strategic, financial, operational or reputational in nature – if not managed well they pose a significant threat to the well-functioning of your authority. In the current economic and financial context the lack of an adequate approach to risk management is an enormous and real threat to the work of any public administration, since nowadays work efficiency and effectiveness in the public sector are more important than ever before. For that reason, it is of extreme importance that public authorities do not rely solely on their intuition in dealing with risks, but use professional formalised risk management as an integral and ongoing part of their general management process. In order to ensure a proper and efficient functioning of any organisation though, risk management is not alone sufficient, but it has to be supported by internal control. While risk management identifies threats, internal control encounters them and at the same time takes advantages of opportunities. Hence, only if these two processes are aligned and integrated into internal structures, they provide a powerful tool to make informed and qualified decisions.
Through a professionalised risk management and functioning internal controls public authorities are hence able to make better decisions based on calculated risks which strengthen the accountability of the entire organisation. It supports the execution of the institution’s responsibilities and the achievement of its strategic objectives and thus leads to a more effective and efficient control and audit function without an unnecessary and disproportional increase of bureaucracy. It creates a real added value for the quality, efficiency and effectiveness of the work of public institutions.
In sum, professional risk management is not only about avoiding mistakes but assuring additional benefit for all people involved. In this seminar, experienced Risk Managers and Auditors from international and national public organisations share their practical experiences on how they have successfully dealt with the questions commonly appearing when dealing with risks. Thanks to that, you will get a precise idea about which issues can and should become subject of risk management, the challenges which do frequently emerge when dealing with risks and how to create constructive links between risk management and internal control and internal audit.
- Risk managers, auditors, internal control specialists, project managers, controllers, coordinators, members of audit committees or other risk practitioners dealing with risk management, supervisory, control and audit in public administration at all levels:
- National and regional audit authorities
- Internal auditors working in public administration on international, European, national and regional level
- External auditors working for the public administration
- Consultants and accountants working for the public sector
- What is the relationship between risk management, internal control and internal audit?
- How to integrate internal control functions and processes in public organisations?
- Why is risk management a key factor for the management process in your organisation and which benefits will it give to you?
- How to detect weaknesses in internal control?
- How can you set up successful risk management policies, strategies and processes that meet the needs of your institution?
- What are the risk identification techniques and how to use them in practice?
- How to manage risks in projects?
- How can you assess risks according to risk criteria?
- How should you respond to risks effectively?
- How can you monitor and report risks and how can you set up an efficient communication procedure?
- What are the main pitfalls detected by internal auditors and how to avoid them?
- How to guarantee that you organisation profits optimally from internal control?
- How to facilitate an internal control culture
- Save money by learning how to modernise your management strategy through initiating or upgrading a successful risk management policy and strategy
- Become more efficient and effective in your audit work by successfully balancing risk management and internal control
- Learn how to enhance the added value of your service delivery by implementing simple but effective risk management
- Benefit from practical experiences of experts from other regions and countries who are already successfully using risk management in their public authorities
- Learn how to align risk management, internal control and internal audit optimally
- Consult your individual questions and problems with our experts from both, the auditor and the auditee side
- Network and exchange experience with European colleagues dealing with risk management, supervision, control and audit in public administration in other regions and EU Member States
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