Risk Management, Internal Control and Auditing

llsms2090  2020-2021  Louvain-la-Neuve

Risk Management, Internal Control and Auditing
Due to the COVID-19 crisis, the information below is subject to change, in particular that concerning the teaching mode (presential, distance or in a comodal or hybrid format).
5 credits
30.0 h
Q1
Teacher(s)
Decaux Loïc; Van Gils Diane;
Language
English
Main themes
  • Risk Management
  • Internal Control
  • Internal Auditing
Aims

At the end of this learning unit, the student is able to :

1 Having regard to the LO of the programme, this activity contributes to the development and acquisition of the following LO:
  1. Mastering knowledge:
    1. Mastery of highly specialized knowledge: advanced and recent knowledge and methods from scientific research.
    2. Activating and applying knowledge from different fields of management.
  2. Act as a socially responsible actor
    1. Decide and act responsibly by considering the short, medium and long-term, and sometimes conflicting, economic, social and environmental impacts of its decisions and actions on the various stakeholders.
  3. Work as a team and exercise team leadership
    1. Teamwork: Integrate and be able to collaborate in a team, be open and take into account different points of view and ways of thinking, manage differences and conflicts constructively, assume diversity.
 
Content
  • Internal Auditing
    1. What is internal auditing, why we need it?
    2. Internal audit positioning, complementarity with risk management and other control functions
    3. Main types of audit and evolution
    4. Required competencies/skills for internal auditors
    5. IIA International Professional Practices Framework
    6. Key steps in an audit process: planning, fieldwork, reporting & follow-up
  • Risk Management
    1. Why we all need risk management?
    2. Risk management frameworks
    3. The risk process
    4. Attitudes, behaviours and risk culture
    5. Corporate governance requirements related to risk oversight
    6. What can we learn from academic research?
Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

  • Theory classes
  • Case study
  • Readings
  • Group discussions
  • Guest speaker
  • Exercises
Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

  • Internal auditing : 50%
    • Continuous evaluation (forum, group assignment): 50%
    • Evaluation week: Final exam 50%
  • Risk management & internal control : 50%
    • Continuous evaluation (case study, interview, reading): 70%
    • Evaluation week: individual written memo 30%
Bibliography
  • Slides, articles and case studies posted on Moodle
  • No specific textbook is required
Faculty or entity
CLSM


Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Sigle
Credits
Prerequisites
Aims
Master [120] in Management
GEST2M
5
Master [120] : Business Engineering
INGE2M
5