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Creating Risk and Control Matrices (RCM) that are Effective for Compliance, Internal Audit and SOX404 Assessments - Webinar

  • ID: 4586279
  • Webinar
  • June 2018
  • Region: Global
  • Online Compliance Panel
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This webinar on Creating Risk and Control Matrices that are Effective for Compliance, Internal Audit and SOX404 will provide you with a set of sound principles and a set of guidelines that will assist you in developing Risk and Control Matrices.

The 21st century business organization requires active and engaged risk management activities. Today's risk and compliance process is rather complex and dynamic; therefore it requires the governance, risk and compliance professionals to possess certain skills in order to effectively complete their duties and responsibilities. The days of using staid audit programs are over. Therefore risk and compliance professionals must be able to evaluate each business process using a risk-based approach and to prepare risk and compliance documentation for each engagement.

Objectives of the Presentation

Whether you are planning a SOX engagement or an internal audit, regulatory compliance requirements, or other separate evaluations, just where do you start with planning for the engagement? How do you complete the necessary risk and control documentation that you will need to successfully complete the engagement? This webinar was created to give young risk and compliance professionals with the skills necessary to prepare a Risk and Controls Matrix, including the following:

  • Discover the objectives, components and requirements of effective internal controls
  • Leveraging internal control framework to create a risk and controls matrix
  • Developing risk identification and management strategies to implement for proper monitoring
  • Learn about the types of internal controls and how to design them
  • Discuss how internal controls are evaluated for their design and operating effectiveness

Why Should you Attend

Practitioners, whether new or experienced, will benefit from this webinar as we discuss and identify risks companies should be aware of and assess controls that should be implemented to mitigate those risks.

Process risk analysis can be used for SOX Compliance or internal audit projects. However, it is also very useful in ensuring that risks are properly mitigated and in determining the key controls in your business process to allow active board and senior management oversight. If not planned in advance, the whole process can grind to a halt while forward thinking companies have already taken those eventualities into account. This session will consider the steps that need to be taken in developing an effective risk and control matrix that can be used within a business either as a SOX compliance or audit tool or more widely as a valuable management oversight assist.

This webinar will provide you with insight to create Risk and Control Matrices that will allow for the identification of areas where risks are significant and would require additional controls that would be applicable to work performed for Compliance, Internal Audit and SOX404.

Areas Covered

  • Types of risks
  • Types of controls
  • Internal control framework
  • Process narratives
  • Process flow diagrams
  • Information/attributes contained in the Risk and Control Matrix
  • Create a Risk and Control Matrix
  • End result upon completion of the Risk and Control Matrix
  • Next steps for you and management

Topic Background

Risk and Control Matrices can be very useful in work performed for Compliance, Internal Audit and SOX404 assessment. In this webinar we will discuss the types of risks, types of internal controls, risk analysis methods and management's role in the risk and control process. We will briefly review documents that will be helpful in developing the Risk and Control Matrices that can be further used in work to be conducted for Compliance, Internal Audit and SOX404 assessments.

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  • Barbara Bosche Barbara Bosche,
    Founder ,
    Stoneridge Consulting Services


    Ms. Bosche is a graduate from Columbus State University, Columbus Georgia earning a Master's Degree in Business Administration and a Bachelor's degree in Accounting. Barbara has over 15 years of professional experience in auditing, information technology audit, fraud investigations and accounting with companies in the following industry sectors: financial services, healthcare and retail. Ms. Bosche holds three professional designations: Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA) and Certified Fraud Examiner (CFE) and is active in local professional chapters.

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Who will Benefit

  • Internal Auditors (Beginner and Experienced)
  • Compliance Professionals
  • Operational Risk Professionals
  • Finance Professionals
  • Accounting Professionals
  • Business/Departmental Managers
  • Board Members
  • External Auditors
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