Enterprise Risk Management: An Introduction - Training - The Institute of Internal Auditors (IIA)
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Enterprise Risk Management: An Introduction

Your opportunity to...
  • Improve your understanding of Enterprise Risk Management (ERM).
  • Broaden your risk assessment perspective to cover all significant internal and external business risks.
  • Benchmark, or reinvent, your risk management tools and practices.
  • Understand the COSO ERM Framework.
  • Gain an understanding of current issues, challenges, and emerging practices regarding risk management, control, and governance processes.
Calling all...
  • Auditors beginning the enterprise risk management process and seeking an understanding of the COSO ERM Framework.
  • Enterprise risk management implementation team leaders and members.
  • Internal audit executives, members, and senior staff members with a responsibility for, or an interest in, enterprise risk management.
  • Executives and managers from organizations that are contemplating enterprise risk management implementation.
Course Description

Prerequisites: None
Advanced Preparation: None
Delivery Method: Group-Live and Group-Internet-Based


Practitioners of Enterprise Risk Management are quick to describe the many benefits implementing the ERM framework has brought to their organization and the audit process. But many non-practitioners simply don’t know how to get started with or how to make the most of ERM. And that’s what this seminar is all about.

Through lectures, case studies, group discussions, practical exercises, self-assessments, and feedback from the facilitator, participants will improve their understanding of ERM and the COSO ERM Framework, while coming up to speed with current issues, challenges, and emerging practices regarding risk management, control, and governance processes. This dynamic workshop is ideal for auditors beginning the enterprise risk management process, as well as ERM implementation team leaders and members, and auditors at all levels who are interested in or contemplating implementation of ERM.

Course Outline
What ERM Is and Is Not
  • Describe the frameworks and other components associated with the background of Enterprise Risk Management (ERM).
  • Identify the components of the COSO ERM Executive Summary.
  • Identify what has changed in the COSO Framework.
  • Identify an Enterprise Risk Management implementation strategy.
  • Identify the internal auditor’s role in Enterprise Risk Management (ERM).
ERM Essentials
  • Identify the four essentials of ERM.
Internal Environment
  • Identify the impact the internal environment has on the enterprise risk management process.
Risk Identification and Assessment
  • Identify the components required when setting objectives for risk identification.
  • Identify the methodologies and techniques that are most effective during risk identification and risk assessment.
  • Apply the components of risk assessment and risk identification to various situations.
Risk Responses
  • Identify the primary types of risk responses.
Risk Monitoring
  • Identify techniques and tools used for risk monitoring.
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