Auditing Digital Risk

Online Course

Details

3 Jun 2020
3 Jun 2020
17:00-18:15

Program Overview

Today’s organizations face a critical dilemma – embrace Digital Transformation and remain a leader or embrace the status quo and become a laggard. This is based on the fact that Digital Transformation is starting to permeate organizations and can be found in a plethora of unusual places. 

Surveys done by Bain & Co, a leading management consultancy, show that across every industry revenue at digital leaders grows more than twice as fast, as those at the laggards. And, profits follow a similar pattern. Thus, the impetus for further adoption of digital technologies across the enterprise is firmly on the radar screen of C-Suite and Boards.

However, with the increased opportunities, the number of risks and the of their impact increases proportionally and Internal Audit will be a key factor in mitigation. According to a report by the European Institutes of Internal Auditors, only 31% of decision makers believe their organisations are compliant with GDPR, while in reality only 2% are. And, the same report highlights the fact that 62% of organisations expect cyber risk to cause disruption in the next three years and yet 74% of organisations have low or no cyber risk maturity.

This program is designed to allow senior leaders and various other Risk and Audit professionals understand the opportunities and impact in Digital Risks within the enterprise. Over 2 days participants will become familiar with various Digital Risks that organizations face, understand their impact and learn various strategies, tactics and methodologies to audit and manage them. In addition, the attendees will understand some of the key technologies that can assist in automating Digital Risk auditing, such as data analytics, Business Intelligence, Big Data and Artificial Intelligence.

Testimonials

Learning Outcomes

Upon completion of this program, participants will:

Intended Audience

Program Level and Pre-requisites for Attending

Foundation level, no pre-requisites

 

Program Duration

  • Online – 3 sessions * 4:30 hrs
 

Number of Attendees

Maximum 20 attendees

 

Training Methodology

A distinguishing feature of our programs is their practical aspect and the gamification of content and delivery. At the end of each module there is a practical exercise designed to reinforce the concepts of the module and to give participants a chance to “get their hands dirty”. The exercises are either scenarios where participants work in groups or individual tasks executed within a specially prepared software environment.

At the same time, gamification is extensively used throughout all of the content. The gamification is done on two levels: full course and individual modules. The full course gamification is based on a gamified storyline across all modules. It increases the levels of engagement, by introducing a mild competitive element, while providing consistent environment for participants.

On the other hand, small gaming activities are present in all modules. Examples include crosswords – based on the content; games like “Hangman” – using terms from the training program, etc. Their purpose is to reinforce learning, while simultaneously applying the principles of Neuropsychology and letting the brain rest every 15-20 mins for a short period of time. The 15-20-minute rests are key to efficient learning, since 20 minutes is the maximum the hippocampus, a part of the brain that takes in learning, can hold.

A specific module of the programs is devoted to creating pilot projects, which ties all of the content together and which the participants will be able to use as a blueprint in their teams for real-life initiatives.

Program Outline

  • Overview and Objectives
  • Structure
  • Impact of Digital Technology in the Society, Government and Enterprises
  • Digital Technology in the Organisation and Associated Risks
  • Group Discussion
  • Overview and Definition
  • Types of Digital Risks
    • Digital Disruption Risks
    • Internal Digital Risks
    • Cloud and Social Media Risks
    • Cybersecurity and Privacy Risks
  • Gamified Exercise
  • External Stakeholders – Impact and Responsibilities
  • Internal Stakeholders – Impact and Responsibilities
  • Audit Department – Impact and Responsibilities
  • Dependencies and Relationships between Stakeholders
  • Gamified Exercise
  • Establishing a Governance Framework
  • Auditing Methodologies for Specific Digital Risks
    • Overview and Approach
    • Internal Risks Methodologies
    • Gamified Exercise
  • Cloud and Social Media Risks Methodology
  • Gamified Exercise
  • Cybersecurity and Privacy Risks Methodology
  • Gamified Exercise
  • Big Data
    • Group Discussion: How do you understand Big Data
    • Overview, History and Characteristics
    • Big Data Success Stories – Case Studies
    • Big Data Sources
    • Gamified Exercise
    • Practical Work – Accessing an External Datasource
  • Artificial Intelligence and Machine Learning
    • Overview
    • Categories and Types of Machine Learning
    • Practical Work
  • Creating a Digital Risk Universe
  • Identifying and Classifying Digital Risks
  • Creating a Digital Risk Map
    • Gamified Exercise
  • Estimating Resource Requirements and Budgeting
  • Creating a 1- and 3-year Digital Risk Audit Plan
    • Practical Work

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