– optimization of the interaction with and demarcation of boundaries relative to other risk-oriented administrative departments –
Over the past three years, the topic of risk convergence and consequently the defined cooperation of risk-oriented administrative departments (controlling, risk management, compliance, administrative coordination, auditing as well as external accounting, among others) has developed into a core challenge for the internal audit function.
In order to enable a value-sustaining cooperative arrangement and achieve synergistic and cost-effective benefits as a result, the task of executive-management addressees is to develop uniform risk metrics, harmonized risk reporting and joint infrastructure approaches between the so-called independent management services.
Course participants learn how to cooperate with other administrative departments in establishing an appropriate network that yields a win-win situation for the other partners as well as for themselves. In the process, the ARC team assists participants in applying proven game-theory approaches to optimize their utility or payoff matrix. Instructors assist provide help in developing risk-convergent methods and infrastructural instruments that are a tailored match for a company’s individual executive management and business model.
At the same time, however, participants also learn how to differentiate their audit team from other risk-oriented administrative departments – resulting in a clearly level playing field for all parties involved. In this respect, ARC instructors also show course participants decisive leveraging tools for positioning themselves as well as reveal opportunities for becoming an inter-company driving force in the form of a primus-inter-pares-style “first among equals”.
- Structural changes and pressure on earnings demand a new approach by executive management: today’s independent management services
- Analysis of the branch’s current status quo: today’s risk-oriented administrative departments
- Requirements of a company-wide risk-management and control system
- Identification of significant drivers
- Comparison of synergies between value-adding architectures of risk-oriented administrative departments
- Field of focus: efforts in the area of a process landscape
- Field of focus: the risk-data warehouse
- Field of focus: the integrated risk-metrics framework
- A common environment of continuous risk monitoring
- Game-theory strategy analysis of the participants’ company-specific environment
- Detailed implementation options for practical application by course participants
- Joint formulation of potential development roadmaps along a timeline
- Support for integration and implementation of the preferred solution
About the ARC Institute
With the Audit Research Center, the ARC Institute provides important impulses for the further development of the audit industry. The focus is on networking science and practice. The focus is on further and new development in cooperation with auditors, companies and associations in order to maintain practical relevance and to develop methods, tools and concepts that can be implemented. The results developed in dialogue with industry experts serve as a guideline and adaptation options in practice today, in order to increase the overall benefit of the company in the long term and sustainably with innovative auditing work.
In the spirit of thought leadership, the ARC Institute and the Audit Research Center stand for topic leadership and forward thinking in the area of internal auditing.
Currently, the ARC Institute supports not only leading supranational institutions in the context of research, consulting and personnel development projects, but also numerous listed companies in the three German-speaking countries of Germany, Austria and Switzerland.
Each open training day is 890,- Euro plus VAT when booking the modules individually. Inhouse training conditions are based on individual pricing and travel expenses. After receipt of your registration you will receive a confirmation of registration with invoice. Please pay the registration fee directly after receiving the invoice. The registration fee does not include 19 % VAT. The price includes participation in the lectures of the booked event, lunch, coffee breaks and seminar documents.
Employees and managerial staff from the internal audit function
Interactive workshop, discussion, game-theory strategy analyses according to US-American mathematician John Forbes Nash, Jr. and others, practical exercises, case studies, retrospective summary
Training / Training / Consulting period:
Bookings are based on an audit-situation analysis as well as a personal preliminary meeting (workshops without implementation generally cover 2-4 days of instruction).
Would you like more details about ARC’s Audit Training & Consulting Services, or do you wish to book an appointment with its team? Please address your e-mail inquiry to Info@ARC-Institute.com or phone us at +49-2159-6945-904