In the aftermath of the global financial crisis, new rule making has targeted reductions in the levels of risks. Governments flooded markets with liquidity; prudential oversight was improved (e.g. governance, risk taking, bonuses); and financial institutions, agencies, companies, and households were forced to increase solvency. Following scandals in product misspelling and FX and interest rate markets, market manipulation was targeted with new rules, tightened compliance requirements and increased oversight. Commitments to combating corruption and cooperation between regulators and law enforcement agencies have put pressure on companies to mitigate fraud, bribery and corruption risks. There is a growing consensus that increasing disclosure and transparency and prosecuting companies, directors, and executives, will help tackle these issues.

And despite all efforts, in its January 2017 meeting, the Global Economic Forum in Davos concluded risks are up. Both in terms of probability and impact and the time it takes to recovery. Risks are up across the board, with inequality; climate change; polarization, protectionism and; technology; and the aging population, peaking in the top 5.  Also, risk factors are expanding and getting more dynamic, complex and interlinked. This 3-day program will explore the role of Internal Audit in providing assurance over the level of control that Boards and Executives have over risks in their company. Participants will work through exercises and case studies to better understand Risk and Audit. We will design the most effective strategy and positioning of Internal Audit in meeting stakeholder expectations. As part of the focus on the emerging risk profile, day 3 will be dedicated to fraud, corruption, and bribery.