ERM in Today’s Business World

In today’s world of evolving technologies and business, companies are taking on increasing levels of risk. This initiative has increased the need to employ appropriate Enterprise Risk Management (ERM) tactics to monitor and manage risk at the proper levels. In a world of do more at a faster pace, it is important for companies to manage their activities in a manner that can allow them to align risk strategies with overall risk management and internal control activities. Inability to do this may put the company at risk for not being able to meet strategic objectives.

ERM is an initiative important to all corporate aspects.  Managing risk includes all levels of financial, operational and compliance risk. The Committee of Sponsoring Organization’s (COSO) released an updated exposure draft in the Fall of 2016.  The draft outlined revise concepts and methodologies around ERM.  The initiative was undertaken to help clarify some of the important elements of ERM and entice companies to move away from the checklist and risk register approach.  ERM is meant to tie directly into strategic decision making and result in actions companies can take to manage risk.  If executed appropriately, ERM can:

• Increase competitive advantage,
• Increase likelihood of achieving strategic objectives and ability to meet increased stakeholder expectations,
• Improve governance
• Increase the likelihood of meeting regulatory and compliance expectations.

This 1-day training will use an interactive approach and combine lecture with workgroup.  Participants will work together to discuss appropriate ERM frameworks and evaluate organizational maturity models to determine their readiness to undertake an ERM strategy.  You will come away from this course with a fuller understanding of ERM, the new COSO expectations and how the concept can work for your organization

8 CPE credits will be awarded to attendees.

Learning Objectives

• Discover the purpose and definitions of Enterprise Risk Management (ERM) and how to align with organization strategy.
• Review key concepts in COSO’s updated framework.
• Identify the roles, responsibilities, and accountabilities for ERM.
• Examine your organization’s maturity level and ability to undertake an ERM initiative.
• Identify the right sized ERM to meet company objectives.
• Explore how to develop and establish a right sized ERM framework
• Explore right-sizing board and audit’s committee’s expectations

Cost
Member Admission Fee: USD 125
Member Admission Fee w/ One (1) Autographed Book of Choice (Select One Option Below): USD 200

Non-Member Admission Fee: USD 150
Non-Member Admission Fee w/ One (1) Autographed Book of Choice (Select One Option Below): USD 225

Agenda
8:00 AM to 8:20 AM - Breakfast and Registration
8:20 AM to 10:00 AM - Session1
10:00 AM to 10:15 AM - Morning Break
10:15 AM to 11:45 AM - Session 2
11:45 AM to 12:45 PM - Lunch and Networking
12:45 PM to 2:00 PM - Session 3
2:00 PM to 2:15 PM - Afternoon Break
2:15 PM to 4:30 PM - Session 4
4:30 PM to 5:00 PM - Book Signing

Speaker Bio

Lynn Fountain has over 35 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. 

Ms. Fountain has held two Chief Audit Executive positions for international companies. She was a member of the senior leadership team for Aquila Inc. in Kansas City, MO, until the sale of the utility in 2008. At Aquila, she was responsible for Internal Audit, Enterprise Risk Management and Sarbanes-Oxley. Upon the close of Aquila, Ms. Fountain engaged in her own consulting and training business.  During this time, she worked with several organizations to establish ERM, Sarbanes-Oxley and governance frameworks.  In addition, she has developed and delivered leading edge training sessions on COSO, internal audit, ERM, accounting, leadership, governance, compliance and ethics.

In 2011, Ms. Fountain was the Chief Audit Executive for an international construction and engineering firm in Kansas City.  In this role, she was involved in the active investigation of a joint venture fraud.  The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. 

In 2012, Ms. Fountain returned to her consulting and training business.  Along with her risk management, internal controls and financial accounting consulting work, she delivers training for the American Institute of Certified Public Accountants, Institute of Internal Auditors, and multiple seminar and training groups. 

Ms. Fountain is the author of three separate technical books.

• “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”, released by the IIARF in 2015.  This book outlines a methodology for internal audit groups to establish when working with fraud protocols. 
• “Leading the Internal Audit Function”, released in 2015 by Taylor & Francis Publications.  This book serves as the initial launch for a series of leading practice internal audit and information technology publications.
• “Ethics and the Internal Auditor’s Dilemma” will be release at the end of 2016. This book highlights the many political challenges internal auditors face when executing their role.

In addition, Ms. Fountain is a frequent blogger on the LinkedIn platform and has also had numerous articles published in professional and technical publications. She has also worked as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas.  Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).

Instructor’s Contact Information – Lynn Fountain, CRMA, CGMA, MBA

www.lynnfountain.net
fountainlynn1@gmail.com