Business Risks, Governance, & Internal Controls | GID 33017 | Lima

Friday, March 15th, 2024

Advanced Internal Controls Workshop 

Join us for a comprehensive exploration of the key concepts in Business Risks, Corporate Governance, and Internal Controls.  This course is designed for intermediate to advanced professionals in the internal control and internal reporting field, who seek to enhance their knowledge and skills in managing risk and internal controls in corporate governance.

In today’s dynamic business environment, the board’s responsibility to manage risk and internal control has never been more important. Effective risk management and internal control systems are critical to the success and sustainability of any organization. Through this course, you will gain valuable insights into the key elements of corporate governance that boards must consider when designing, implementing, monitoring, and evaluating their risk management and internal control frameworks.   Our comprehensive course will cover a range of topics, including audit evidence and sampling, the business risk environment, and key corporate governance initiatives. We will delve into the structure and core elements of the International Professional Practices Framework and explore how to focus on critical enterprise risks and emerging risks from the audit function. You will also learn how to embed the desired culture and behaviours in your organization and build effective communication systems, including whistle-blowing procedures.

The course will cover the COSO framework as it is one of the most widely recognized frameworks for internal control. You will learn about the five components of the COSO framework, which include control environment, risk assessment, control activities, information and communication, and monitoring activities. We will also discuss how to apply the COSO framework to your organization’s internal control and risk management systems. Understanding the COSO framework is essential for any professional working in the internal control and internal reporting field, as it is a widely accepted framework used by auditors and companies worldwide.

Effective communication is vital for internal auditors of all levels, and persuasive audit reports are critical for effective communication. Our program is designed to guide internal audit professionals from various industries on how to create effective audit observations and reports that comply with professional standards, generate management action, and convey essential messages to senior management. This is a crucial skill that not only benefits the organization but also prepares individuals for career advancement.

We believe this course will provide you with the tools and techniques you need to develop a comprehensive understanding of managing risk and internal controls in corporate governance.  So, join us for this exciting and engaging training course and take the first step in enhancing your skills and expertise in this critical area!


Key Learning Features

  • Identifying the value proposition stakeholders expect from the internal audit function
  • Develop an understanding of the business risk environment and key corporate governance initiatives required for effective risk management and internal controls
  • Understand COSO-based auditing for Control Activities and describe the structure and core elements of the International Professional Practices Framework
  • Recognize recent scandals and internal audit failures, and learn from them to improve internal audit practices and techniques
  • how to engage effectively with stakeholders and deliver assurance standards on the culture of the organization
  • Use effective risk reporting in order to advance dialogues around risk appetite and enhance risk decision-making

Global Program Schedule and Hosting Opportunities

Our program has been scheduled in multiple cities worldwide. For a comprehensive schedule and to find a session in your area, please explore the following links. If you are interested in organizing this program in your city, we encourage you to contact us for collaboration opportunities and more information.

Online | London | Dubai | New York | Toronto | Mumbai | Singapore | Sydney | Bermuda | Zurich | Miami | Cape Town | Lima (Peru) | Doha | Rio de Janeiro


For More Information

Please contact our customer service team for more information about our Business Risks, Corporate Governance & Internal Controls Training program and to enroll. Our team is dedicated to providing you with excellent service and answering any questions you may have. We look forward to hearing from you and helping you take the next step in your professional development.

Instructor Bio

Our trainers have specialist knowledge and first-hand experience in implementing the International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, Risk management strategies, Valuations, Mergers & Acquisitions, Corporate Governance, Environmental, social, and corporate governance ( ESG) reporting, Supply Chain Management, Prudential regulations, Compliance matters (such as Basel regulations, Solvency II, Anti Money Laundering regulations and a number of other evolving regulatory matters) and a whole range of professional development programs (e.g., Negotiations Skills, Presentation Skills, Data Management, Python, Block-Chain, Digital Assets etc.)

This ensures an engaging and stimulating learning experience for professionals and senior executives, helping to ensure knowledge is retained. They understand the accounting and regulatory requirements, risk environment, industry issues and challenges, risk management strategies, financial reporting & disclosure requirements, and compliance environment. They impart their knowledge using real-life industry examples, simple and user-friendly presentations of important concepts/approaches and case studies.


Instructor for this course

Shasat Faculty


Our Partners

Our Partners in learning

Course Description


Governance and Board Effectiveness

  • Board size and composition
  • Board performance
  • Board evaluation and re-election
  • Role of the board
  • Chair and chief executive – roles and relationship
  • Role of committees/subcommittees
  • Role of management
  • Role of internal and external audit
  • Case Study: Met Life Internal control Failures
  • Case Study: Cryptocurrencies and FTX Failures

Business Risks and Corporate Governance

  • Introduction to Business Risks and their types
  • Enterprise Risk Management Framework (ERM)
  • Assessing the effectiveness of the ERM framework
  • Corporate Governance framework and its importance
  • Compliance and Regulatory requirements
  • Case Study: Governance failure at Enron

COSO Framework

  • Overview of the COSO framework
  • Understanding the components of COSO – Control Environment, Risk Assessment, Control Activities, Information and Communication, Monitoring
  • Evaluating the effectiveness of internal controls using the COSO framework
  • Implementing the COSO framework in organizations
  • Group Exercises and Examples

Advanced Risk-Based Approach

  • Identifying areas of significant risk
  • Classifying and quantifying risk areas
  • Audit population/scope and re-audit frequency in line with risk
  • Overview of emerging threats
  • Internal Control-Integrated Framework for sustainability reporting
  • Group Case Studies and Examples

Introduction to the Engagement Process

  • Types of Internal Audit Engagements
  • Planning the Engagement
  • Performing the Engagement
  • Conducting Engagement Communications

Conducting Effective Internal Checks

  • Pre-audit planning
  • Effective audit sampling techniques
  • Recording findings during auditing
  • Effective stakeholder engagement
  • The auditor’s role as a consultant
  • Utilizing audit reporting to inform organizational policy development
  • Continuous improvement initiatives and supervision
  • Measuring improvement – a toolkit for objective measurement and demonstration of audit output improvements
  • Examples and Case Studies

Compliance Checks

  • Record-keeping procedures
  • Controls to identify potentially suspicious activities
  • Trade finance transactions
  • Trade processing controls by processing staff • Red flagging procedures
  • Pre-determined thresholds systems and controls
  • Escalations
  • Actions are taken by senior management
  • Evidence and awareness of senior management evidencing how crime risks evolve in the organizational type of business

Engaging with the Audit Structure

  • Making effective recommendations and business cases
  • Presenting observations in a clear and concise manner
  • Contributing meaningfully to the development of the long–term audit strategy
  • Upgrading the profile of internal audit within the organization

Audit Report Writing

  •  Objective comments
  •  Constructive tone
  •  Compliance terms and abbreviations for internal auditors
  •  Improvement recommendations
  •  Continuous improvement techniques
  •  Internal audit report failures
  •  Case Studies and Examples

The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.

All rights reserved. ©2024, Shasat

Why you must attend?

In today’s rapidly changing business landscape, risks and challenges are ubiquitous. Organizations must have robust corporate governance structures and effective internal controls to manage these risks successfully. The failure to do so could result in significant financial losses, reputational damage, or even the collapse of the business.

Our two-day training course on Business Risks, Corporate Governance, and Internal Controls is designed to help you understand the importance of these concepts and develop the knowledge and skills necessary to excel in a complex business environment. You will learn how to identify and assess the critical risks facing your organization, design and implement effective internal control systems, and establish suitable corporate governance frameworks that meet professional standards.

In addition, you will gain valuable insights into audit evidence and sampling, the business risk environment, and key corporate governance initiatives. You will also learn how to focus on critical enterprise risks and emerging risks from the audit function and use effective risk reporting to advance dialogues around risk appetite. Our program will equip you with the tools and knowledge necessary to communicate with stakeholders effectively and deliver assurance standards on the culture of the organization.

By attending this course, you will also gain a competitive advantage in your career, as the ability to manage risk and internal controls is an essential skill for today’s professionals. This course will help you recognize various career opportunities in the internal audit field and equip you with skills that are in high demand. Don’t miss this opportunity to enhance your career prospects and contribute to the success of your organization.

Sign up for our training course on Business Risks, Corporate Governance, and Internal Controls today.


Teaching methodology

Our training course on Business Risks, Corporate Governance, and Internal Controls has been designed to offer an innovative and comprehensive approach to learning for professionals in all industries. Our teaching methodology includes:

  • A user-friendly slide deck that presents the concepts, methodologies, and principles in a clear and concise manner, making the material easily accessible to all attendees.
  • Interactive sessions featuring real-life case studies to provide hands-on experience and bring the material to life.
  • Explanations of concepts and methodologies through the use of examples and distinct scenarios, allowing attendees to understand the material in context.
  • Group exercises designed to illustrate key principles, encouraging collaboration and fostering a deeper understanding of the material.
  • In-depth discussions on the latest industry developments, providing attendees with a well-rounded understanding of the subject matter.
  • Access to additional course material and handouts, ensuring attendees have a comprehensive reference resource to support their learning.
  • An open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material.

Our course will equip you with the skills and knowledge necessary to effectively identify and manage business risks, ensure strong corporate governance, and establish robust internal controls.

Whether you are a seasoned professional or just starting out in your career, our dynamic and engaging learning experience will support your professional development and help you advance in your field.  Don’t miss this opportunity to enhance your skillset and advance your career – enroll today!


Who should attend?

This course is open to a wide range of individuals who are interested in developing their knowledge and skills related to the internal audit function, including but not limited to:

  • Accountants and financial managers
  • Internal auditors and auditing managers
  • Controllers and treasurers
  • Practitioners involved in accounting, finance and non-finance staff, and budget officers
  • Academics and accountancy students
  • Any individual responsible for safeguarding company assets and interested in risk management and internal controls.

Whether you are new to internal auditing or an experienced professional looking to enhance your knowledge and skills, this course offers a valuable opportunity to gain a deeper understanding of the internal audit function and the role it plays in risk management, corporate governance, and internal controls.



Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.


Venue & other info

Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us.  One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.

Please note that accommodation arrangements are the responsibility of the attendee.


Workshop Delivery (Online Programs)

The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.


In-Person Workshop

Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.


Changes to the conference

Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event.



We are pleased to offer sponsorship opportunities for our training programs, providing companies with a unique platform to showcase their brand and services to a highly engaged and relevant audience. By becoming a sponsor, your organization will have the opportunity to build brand awareness, demonstrate thought leadership, and cultivate valuable relationships with industry professionals. Our programs offer a platform to reach a targeted audience and generate new business leads while showcasing your expertise. The benefits of sponsorship include increased brand exposure, opportunities to connect with key decision-makers, and a platform to promote your products and services. We invite you to take advantage of this prime opportunity and partner with us to enhance your visibility and impact within the industry.


Terms and Conditions

We kindly request that you carefully review all of the terms and conditions outlined on our website. This information is critical in ensuring a clear understanding of our policies and procedures. Please follow the link provided to access this information.


About Shasat

Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.


Enroll in our program with ease by choosing from our secure online payment options. You can make a payment through our website using PayPal or Stripe, or opt for a bank transfer, demand draft, or cheque payment. Our payment page will provide all necessary options during checkout. If you encounter any issues, our customer service team is here to assist you. Simply reach out to us with your selected course, and we’ll guide you through the payment process.

We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.


Group discount

Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.


CPD hours

Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.



For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.

In-House Training

Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.

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