Goals

-Introduce the stakeholders of Governance, Risk Management, Control and Internal Audit: the Board of Directors, the actual Management, the shareholders, the management and the functions of Internal Control, Internal Audit, Compliance, Risk Management and Fraud -Present the principles of governance and describe the role of the 3 lines of defence in the governance process -Understand the concept of risk and the stages of risk management and identify the key business processes of an organisation -Identify the objectives, components and principles of the COSO internal control framework and present the main types and techniques of control -Describe the fundamentals of internal auditing: the IIA's International Professional Practices Framework and the basic principles of the audit plan and evidence and assurance and consulting engagements -Explain the missions, areas of activity and principles of the Compliance function as well as the key elements of an AML/CFT system -Present the fraud triangle and the principles of fraud risk management -Get students to think about the organisation, its stakeholders (internal and external) and perspectives -To enable students to apply, in a critical way, the concepts and tools seen in the course

Content

Introduction Part 1: Governance Part 2: Risk Management Part 3: Internal Control Part 4: Internal Audit Part 5: The Compliance function in the financial sector Part 6: Fraud risk management

Assessment method

Closed book written examination

Sources, references and any support material

BERTRAND N. and DE RONGE Y. (2013), Contrôle de gestion: perspectives stratégiques et managériales, 2nd edition Pearson, Montreuil CORDEL F. (2016), Gestion des risques et contrôle interne - de la conformité à l'analyse décisionnelle, 2nd edition, Vuibert, Paris CORPORATE GOVERNANCE COMMISSION (2009), The Belgian Corporate Governance Code 2009, www.corporategovernancecommittee.be IGALENS J. and POINT S. (2009), Vers une nouvelle gouvernance des entreprises, Dunod, Paris PIGE B. (2009), Audit et contrôle interne, 3rd edition, EMS, Paris PLOIX H. (2006), Corporate governance for all, managers, directors and investors, Pearson Education France, Paris RENARD J. (2002), Théorie et pratique de l'audit interne, 4th edition, Editions d'Organisation, Paris REDING K.F & al (2015), Internal audit manual - improving the effectiveness of governance, internal control and risk management, 3rd edition, Eyrolles, Paris

Language of instruction

Français