Board Audit and Financial Management Course
Course Overview
| Course Title | Board Audit and Financial Management Course |
| Organization | Tech For Development (T4D) |
| Venue | Tech For Development (T4D) Training Center along Tala Road, Runda, Nairobi |
| Target Industries |
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| Target Job Roles |
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| Course Fees (Face-to-Face) | TBA |
| Course Fees (Virtual) | TBA |
| Training Modes | Virtual and face-to-face training |
| Payment | Payment should be made to the Tech For Development (T4D) bank account on or before the start of the course |
| Accreditation | Tech For Development Certificate of Course Completion |
Introduction
An audit committee is a committee of an organization’s board of directors which is responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audited reports, both from internal and external audit. The primary purpose of a company’s audit committee is to provide oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with laws and regulations.
The audit committee is responsible for the appointment, compensation, and oversight of the work of the auditor. As such, auditors report directly to the audit committee, not management. Audit committees meet separately with auditors to discuss matters that the committee or auditors believe should be discussed privately. The committee also reviews proposed audit approaches and handles coordination of the audit effort with internal audit staff. When an internal audit function exists, the committee will review and approve the audit plan, review staffing and organization of the function, and meet with internal auditors and management on a periodic basis to discuss matters of concern that may arise.
Duration
10 Days
Who Should Attend
Board Audit Committee Members, Chairmen, Board Members, Chief Audit Executives, Chief Executive Officers, Managing Directors, Chief Managers, Heads of Departments, Senior Managers, Chief Finance Officers, Chief Operations Officers, Chief Information Officers, Chief Compliance Officer, Chief Human Resources Manager, Chief Security Officer, Chief Green Officer, Chief Analytics Officer, Chief Medical Officer, Chief Data Officer, Management Consultants, and Accounting Officers of Government Units and entities.
Course Objectives
At the end of this T4D training course, participants will learn:
• Understand and examine role and responsibilities of the Audit; Committee as part of governance and assurance systems
• Equip members of the Audit Committee with modern oversight skills in Risk based auditing and reporting;
• Have a greater understanding of the legal, regulatory and professional obligations for audit committees ;
• Perform their monitoring, evaluation, compliance, monitoring and other oversight duties effectively;
• Recognize professional obligations for Audit Committee;
• Appreciate features and learn how to assesses the effectiveness of Audit committees .
Course Modules
Course Outline
Module 1
- The establishment and role of Audit Committees in the public and private sectors
- Roles and Responsibilities of Audit Committee Members
- Typical structure of the Audit Committee
- Audit Committee Membership,
- Audit Committee Terms of Reference and agenda items
- The role of the Audit Committee as delegated by the board,
Module 2
- The role of advisors and the role of the Company Secretary
- Audit Committee Reporting and protocols
Module 3
- Audit Committee Essentials:
- Oversight of financial reporting, audit quality, and other risks on the committee’s agenda
- Understanding the company, its culture, and its dynamics
- Demonstrating sound industry knowledge and access to contacts
- Appropriate relationships with other board members, senior management, internal and external auditors
Module 4
- How to provide effective oversight and value to the annual report and accounts
- Roles and responsibilities for external auditors in relation to audit committees
Module 5
- Establishing a procedure of assessing external auditor effectiveness
- Internal Audit reports, positioning and links to the Board and other Committees
Module 6
- Role of the Audit Committee in Whistleblowing and Investigations
- Steps towards establishing a positive audit committee culture
- The relationship between the Audit Committee, the Board, and other Committees
Module 7
- Developing resilience, self-motivation, and renewal tips for Audit Committee Members
- Audit Committee Reporting: Guidance on what must be Included in the Audit Committee Report
Module 8
- Exuding executive presence for effective leadership edge as an Audit Committee Member
- Employing emotional intelligence for success during Committee Meetings
Module 9
- Objective Vs independence: Building an effective Internal Audit function;
- Assurance arrangement;
- Corporate Accountability: Focus on the Audit Committee.
- Financial reporting oversight practices.
Module 10
- The Role of Audit Committee in Governance Risk and Compliance;
- Legal and regulatory environment of audit committees;
- Assessing Audit Committee effectiveness;
- Becoming an ‘ethical leader’ and handling complex dilemmas.
Course Administration
Methodology
This instructor-led training course is delivered using a blended learning approach comprising presentations, guided practical sessions, web-based tutorials, and group work.
Accreditation
Participants will receive a Tech For Development Certificate of Course Completion.
Training Venue
Held at the Tech For Development Training Centre.
Accommodation & Airport Transfer
Arranged upon request.
Email: letstalk@techfordevelopment.com
Phone: (+254) 790 824 179
Tailor-Made
Customised training available.
Payment
Send proof of payment to letstalk@techfordevelopment.com.
