– 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
Audit-Championship is a university spin-off. We focus on networking between science and practice. Audit-Championship provides thought leadership and innovative methods to support its customers across all industries in digital transformation. We support audit departments globally as well as national Internal Audit associations with yearly 1.800+ training days and transformation services along an internal audit knowledge value chain.
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