# Enterprise Risk Management for Auditors Course (Self-Paced) Canonical URL: ## Overview This fast-paced, seminar-style course is for managers, auditors, and analysts responsible for mission and mission support risk assessment over financial and performance activities, including implementing the Federal Manager’s Financial Integrity Act and OMB Circular A-123. It is also designed for auditors and evaluators who need to understand the application and role of risk management and assessing internal control in sustaining organizational performance, efficiency, effectiveness, and accountability. Seminar topics are based on a combination of the GAO Green Book, Standards for Internal Control, the COSO standards for ERM, as well as current literature written by our instructors! This course is part of the Certified Government Auditor (CGA) program, Level 3. ## What you'll learn - Explain the need for ERM. - Describe risk in government. - Explain leadership accountability for enterprise risk management. - Identify strategies for building a risk culture. - Use ERM to define risk to strategic goals. - Articulate the role of ERM in the budget environment. ## Curriculum #### Module 1: Introduction to Enterprise Risk Management (ERM) - Understanding the need and importance of ERM in government - Identifying various types of risks: operational, economic, reputational, and compliance-related - Exploring leadership accountability and strategies for building a risk-aware culture #### Module 2: OMB Circular A-123 and ERM Requirements - Detailed review of OMB Circular A-123 requirements for ERM - Integration of ERM with strategic planning and internal control processes - Understanding the roles and responsibilities of Chief Financial Officers, Chief Operating Officers, and Performance Improvement Officers in ERM #### Module 3: ERM Process and Risk Profiles - Step-by-step approach to establishing context and identifying risks - Analyzing, evaluating, and prioritizing identified risks - Creating and maintaining agency-wide risk profiles to guide risk response #### Module 4: Risk Responses and Mitigation Strategies - Formulating strategies to respond to identified risks (avoidance, reduction, acceptance, sharing) - Assessing residual risks and developing corrective action plans - Continuous monitoring and adjusting risk response plans based on effectiveness #### Module 5: Internal Control and the GAO Green Book - Introduction to GAO’s Standards for Internal Control (the Green Book) - Evaluating internal control systems against GAO standards - Identification and reporting of internal control deficiencies #### Module 6: Fraud Risk Management - Recognizing and assessing fraud risks in government programs - Applying GAO’s Fraud Risk Management Framework - Establishing risk tolerances and managing fraud risks through preventive and detective controls #### Module 7: Reporting and Assurance Statements - Developing annual assurance statements per FMFIA requirements - Reporting on ERM and internal control effectiveness - Understanding reporting requirements for control deficiencies, significant deficiencies, and material weaknesses #### Module 8: Additional ERM Considerations - Managing privacy risks in federal programs - Conducting acquisition and grant assessments - Managing Antideficiency Act risks and other compliance-related risks ## Pricing **Tuition:** $649