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Home Course Schedule Classroom - Washington, DC Facility Challenges of Modern Corporate Governance and Auditing (October 8, 2012 - October 19, 2012)

Challenges of Modern Corporate Governance and Auditing (October 8, 2012 - October 19, 2012)

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Course Description

The modern corporation whether privately owned or owned by a government or government entity is being challenged on many fronts by changes in the global economy. The transitions taking place in the ownership and control of these entities create new challenges and opportunities within the fields of accounting and auditing. The main challenges arise from the need to meet the more rigorous reporting and monitoring requirements of national and international capital markets that focus on transparency and accountability.


For the public sector and state owned enterprises, these changes also present opportunities to improve and reform the erstwhile basic and inadequate systems of accounting and auditing that still exist in many countries as well as the internal systems of control and supervision. This course is designed to familiarize key officials (with or without prior formal training in accounting and finance) with the concepts and tools applied to measure and monitor the performance of the modern corporation. Special attention will be paid to governance issues as they relate to the audit and financial reporting function and accountability.

 

By the end of the course participants will have achieved the learning outcomes provided below.

Learning Outcomes:

  • Understanding capital investment decision criteria, project valuation techniques, real options analysis and decision tree in corporate planning
  • Redesigning corporate financial structure—how to determine optimal mix of debt and equity
  • Improving transparency & accountability throughout the corporate structure
  • Understanding the legal, regulatory issues and standards of auditing
  • Developing enterprise risk management principles and processes
  • Structuring the Board and its committees to support auditing and financial reporting
  • Determining the role of the CEO, CFO, Directors, the Board and outside auditors and internal monitoring committees

Outline

 

 

Course Module Topics

Module I:

 

Capital Investment Decision-Making for the Corporation

 

  • Understanding the tools for maximizing shareholder value for capital investment decisions
  • How to establish a “ hurdle rate” for estimating project NPV in corporate setting
  • Key ratios and their relevance in the financial reporting
  • Using Real Options Analysis and Decision Tree Analysis to plan and decide on investment choices, techniques for quantifying uncertainty
  • Understanding how to manage working capital for a corporation
  • Establishing a capital structure for the corporation

Module II:

Structuring the Board & Corporate Organization for Financial and Cost Management

  • Board structures –international models (US, Japanese, German, others)
  • Role of the CEO, COO, CFO and Directors
  • Who is the auditor? Use of outside and internal auditors
  • Role of the Audit and Compensation Committees, its membership and qualifications
  • Synchronizing the financial accounting system and the cost accounting systems
  • Relationship between the Board and the Auditors
  • Accounting standards for the modern corporation

Module III:

Towards New International Standards of Accounting

  • Overview of International initiative to standardize and harmonize accounting standards
  • Role of the International Accounting Standards Board (IASB)
  • National norms and procedures for regulating the accounting and audit function (US, UK, EU and Asian approaches)

Module IV:

Legal and Regulatory Issues for the Growing International Corporation

  • Understanding the various regulatory principles and processes ( Canadian, European, and Australian )
  • Understanding the US model (Sarbanes Oxley) /States Attorney General/NYSE/NASDAQ )
  • Financial reporting and disclosure material under the International Accounting Standards Board (IASB)

Module V:

Implementing a New Corporate Culture: Transparency & Accountability

  • Designing ethics codes for the corporation
  • Implementing disclosure rules and use of a Disclosure Committee
  • Development of risk management systems for monitoring corporate decision-making
  • Criminal checks and balances, standards of fraud review of cases

Module VI:

Briefings/Site Visits with Corporate Governance Specialists

 

Requirements for Completing the Course

 

Requirements for Completing the Course

To achieve the course Learning Outcomes and earn the maximum available CEUs, you must:

  • Attend all training sessions during the duration of the program
  • Complete course assignments as assigned by IP3 instructors
  • Attend site visits to engage with U.S. counterpart officials
  • Complete a Strategic Action Plan that will be reviewed and graded by an IP3 facilitator

Course Info

  • Location: Washington, DC
  • Date: October 8, 2012 - October 19, 2012
  • Tuition: $4,950.00
  • Course Code: 1230-WA
  • CEUs: 6.0
  • PDHs:

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