Risk management and Internal Control are currently on top of every board’s agenda. Outcomes of PwC’s 15th global CEO survey show that 67% of all CEO’s interviewed are planning to revisit their Risk Management approach, because its fit for purpose and cost/ benefit ratio is no longer aligned with the current risk landscape.
Today’s changes in business and operating environments are faster, more drastic, more complex and often technology driven and global in scope. At the same time, stakeholders are more engaged, seeking greater transparency and accountability for the integrity of Internal Control systems that support the business decisions and governance of the organization. Meanwhile they doubt about the level of comfort the Internal Control systems provide and its adaptability and flexibility in today’s fast pace of change.
COSO’s Integrated Framework for Internal Control is recognized as the leading framework for designing, implementing and evaluating the effectiveness of Internal Control. In response to the developments described above, an update of this framework is currently in process and to be issued in Q1 2013.
The updated framework introduces enhancements designed to clarify concepts and ease use and application. One of the most significant enhancements is the codification of Internal Control concepts, introduced in the original framework, into principles and points of focus. Catherine Jourdan, Director in PwC’s Paris practice and Principal Contributor to the COSO framework update, will elaborate on the most relevant changes in the framework, the update process and the comments received on issuing the preliminary update earlier this year.
The update of the COSO framework provides an opportunity to explore why and how organisations (and business management more specifically) can benefit from strengthening Internal Control. The update guides provides a guide to all levels of the organization, including its business partners and outsourced service providers, to reevaluate the adequacy and eff ectiveness of Internal Control in support of the objectives of the business.
Marcel Prinsenberg, Senior Director PwC
Catherine Jourdan, Director PwC
Senior general management, senior financial management, internal auditors, risk/compliance/internal control officers, quality & security managers.
|3:00 PM||Arrival and welcome|
|3:30 PM||COSO update, most relevant changes, backgrounds and comments by Catherine Jourdan|
|4:30 PM||Q & A with Catherine Jourdan|
|5:15 PM||COSO update applied by Marcel Prinsenberg|
|6:00 PM||Closing and drinks|
Attending this seminar earns Auditors and Controllers 3 PE points. You will receive a certificate after attending the seminar.
The cost of attending this seminar is € 100, - and is exempt from VAT.
The discount is not applicable to this seminar
Registration is open until September 30