Accountants' Changing Role in Risk Management
Presenters : Monja van Zyl CA(SA)
Overview
Taking risk is part of every business undertaking; it is a business fact! However, the level of risk tolerance will differ from organisation to organisation as opportunity costs and trade-offs are weighed differently, depending on organisational culture, objectives and business strategy.
Risk management involves the methodical assessment, minimisation and/or elimination of risks. As such, every department has a part to play. Accountants contribute to risk management as they perform their traditional role of management accounting where they make use of CVP analysis, decision trees, discounted cash flow and other established techniques.
Learning objectives
By attending this webinar you will gain the following competencies:
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Have an understanding of the importance of establishing risk management and internal control procedures in every business.
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Acquire the skill to always identify existing and future risks, assess them and have ways to minimise or fully eliminate them.
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Become aware of, and understand your organisation's risk appetite in pursuit of organisational objectives.
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Realise your responsibility in risk management as a management accountant.
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Understand how to formulate procedures for risk response and reporting to stakeholders.
Content
The webinar will cover the following topics:
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What is risk management?
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Types of risks and controls.
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Risk appetite defined.
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Enterprise risk management (ERM).
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Internal controls.
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The COSO framework.
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Practical examples and impact of risks.
