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Course Details

Enterprise Risk Management (Course Id 845)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 10.0
IRS Credits : 0
Price : $99.95
Passing Score : 70%
Primary Subject-Field Of Study:

Finance - Accounting and Auditing for Course Id 845

Description :

This course describes the concept of risk management, how to integrate it into an organization’s strategy, and who is responsible for it. The course also addresses risk management at the level of the individual functional area, including treasury and accounting, sales and marketing, human resources, and information technology. There is coverage of contingency planning, insurance, financial analysis, and risk-related measurements and reports.

Usage Rank : 0
Release : 2015
Version : 1.0
Prerequisites : None
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 09-Sep-2015
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 845

Keywords : Finance, Enterprise, Risk, Management, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

    • Recognize the benefits of risk management, the circumstances under which an organization can retain risk, the characteristics of an enterprise risk management system, and the contents of an organization’s risk profile.
    • Note the contents of a credit rating system, and the circumstances under which operational hedges, forward contracts, payment netting, call options, and interest rate swaptions are used.
    • Identify the risk mitigation efforts that can benefit from centralized marketing management and product testing, as well as the tactics used to mitigate the risk of false marketing claims.
    • Note the uses of surety bonds, as well as the available risk mitigation alternatives for late deliveries.
    • Recognize the alternatives available to reduce the risks of insufficient capacity.
    • Identify the risk-related benefits of offering a richer benefits package to employees, as well as the options available for offsetting a decline in employee morale.
    • Identify the uses to which multiple scenario modeling and internal audits can be put, as well as how to reduce the risk of issuing financial statements that contain errors.
    • Recognize which risk can be reduced by the use of a hot site, and the risk represented by portable storage media.
    • Note the risk mitigation tactics related to political risk and alliance risk.
    • Identify the employee notification systems that can be used in the event of an emergency, which forms of communication are the most effective, and which issues with employees may arise immediately after a disaster has occurred.
    • Recognize the reasons why deductibles and co-pay are included in insurance contracts, the issues with all-perils coverage, and the circumstances under which reimbursement occurs under business interruption insurance.
    • State how risk should be incorporated into analyses involving pricing, dividends, capital budgeting, and research & development.
    • Identify the uses to which risk-related reports can be put, the types of leading indicators, and how to evaluate credit ratings.

Chapter 1
Risk Management Overview

Recognize the benefits of risk management, the circumstances under which an organization can retain risk, the characteristics of an enterprise risk management system, and the contents of an organization’s risk profile.

Chapter 2
Treasury Risk Management

Note the contents of a credit rating system, and the circumstances under which operational hedges, forward contracts, payment netting, call options, and interest rate swaptions are used.

Chapter 3
Sales and Marketing Risk Management

Identify the risk mitigation efforts that can benefit from centralized marketing management and product testing, as well as the tactics used to mitigate the risk of false marketing claims.

Chapter 4
Supply Chain Risk Management

Note the uses of surety bonds, as well as the available risk mitigation alternatives for late deliveries.

Chapter 5
Production and Distribution Risk Management

Recognize the alternatives available to reduce the risks of insufficient capacity.

Chapter 6
Human Resources Risk Management

Identify the risk-related benefits of offering a richer benefits package to employees, as well as the options available for offsetting a decline in employee morale.

Chapter 7
Accounting Risk Management

Identify the uses to which multiple scenario modeling and internal audits can be put, as well as how to reduce the risk of issuing financial statements that contain errors.

Chapter 8
Information Technology and Systems Risk Management

Recognize which risk can be reduced by the use of a hot site, and the risk represented by portable storage media.

Chapter 9
Other Risk Management Topics

Note the risk mitigation tactics related to political risk and alliance risk.

Chapter 10
Contingency Planning

Identify the employee notification systems that can be used in the event of an emergency, which forms of communication are the most effective, and which issues with employees may arise immediately after a disaster has occurred.

Chapter 11
Insurance

Recognize the reasons why deductibles and co-pay are included in insurance contracts, the issues with all-perils coverage, and the circumstances under which reimbursement occurs under business interruption insurance.

Chapter 12
Risk in Financial Analysis

State how risk should be incorporated into analyses involving pricing, dividends, capital budgeting, and research & development.

Chapter 13
Risk Measurements and Reports

Identify the uses to which risk-related reports can be put, the types of leading indicators, and how to evaluate credit ratings.
Course Contents :

Chapter 1 - Risk Management Overview

Benefits of Risk Management

The Interrelationship between Risk and Strategy

Risk Retention Strategy

Risk Analysis as an Opportunity

Special Risk Situations

Risk Management for the Enterprise

The Chief Risk Officer

Risk Management Committee

Responsibility for Risk

Risk Management by the Individual Employee

Types of Risks

The Risk Management Process Flow

Risk Rankings

Risk Quantification Issues

The Risk Profile

Special Risk Situations

Risk Planning Timeline

Risk Management Best Practices

Risk Management Themes

Biases in Risk Management

Chapter 2 - Treasury Risk Management

Funding Risk

Investment Risk

Liquidity Risk

Credit Policy Risk

Credit Exposure Risk

Internal Credit Rating System

Third Party Credit Ratings

Credit Insurance

Terms Alterations

Receivables Financing

Outside Financing

Portfolio Approach to Risk

Cross-Selling Credit Exposure Risk

Credit Concentration Risk

Foreign Exchange Risk Overview

Foreign Exchange Risk Management

Take No Action

Avoid Risk

Shift Risk

Time Compression

Payment Leading and Lagging

Build Reserves

Maintain Local Reserves

Hedging

Types of Foreign Exchange Hedges

Loan Denominated in a Foreign Currency

The Forward Contract

The Futures Contract

The Currency Option

The Cylinder Option

Swaps

Netting

Interest Risk Overview

Interest Rate Risk Management

Take No Action

Avoid Risk

Asset and Liability Matching

Hedging

Types of Interest Rate Hedges

The Forward Rate Agreement

The Futures Contract

The Interest Rate Swap

Interest Rate Options

Interest Rate Swaptions

Chapter 3 - Sales and Marketing Risk Management

Marketing Governance Risk

Brand Repositioning Risk

Celebrity Spokesperson Risk

False Marketing Claims Risk

Advertising Reduction Risk

Increased Marketing Cost Risk

Socioeconomic Change Risk

Product Recall Risk

Incorrect Forecasting Risk

Customer Loss Risk

Contracting Economy Risk

Chapter 4 - Supply Chain Risk Management

Supply Chain Risk

Cross-Firm Effects of Supply Chain Disruptions

Supply Chain Risk Mitigation Techniques

Project Completion Risk

Shifting Risk into the Supply Chain

Chapter 5 - Production and Distribution Risk Management

Capacity Failure Risk

Defective Product Risk

Loss of Distributor Risk

Chapter 6 - Human Resources Risk Management

Recruitment Risk

Incorrect Hire Risk

Downsizing Risk

Worsening Employee Morale Risk

Discrimination Risk

Position Misclassification Risk

Inflated Benefits Cost Risk

Increased Unemployment Rate Risk

Performance Incentive Plan Risk

Accidents Risk

OSHA Violations Risk

Human Resources Activities to Mitigate Risk

Chapter 7 - Accounting Risk Management

Financial Statement Error Risk

Tax Return Error Risk

Budgeting Error Risk

Overpayment Risk

Overspending Risk

Use Tax Risk

Due Diligence Error Risk

Fraud Risk

Public-Company Risks

Chapter 8 - Information Technology and Systems Risk Management

Data Security Risk

IT System Failure Risk

Loss of Expertise Risk

Incompatible Systems Risk

Changing Technology Risk

Catastrophic Damage Risk

GRC Software

The Use of Procedures

The Need for Procedures

The Number of Procedures to Develop

Deviations from Procedures

The Use of Controls

Chapter 9 - Other Risk Management Topics

Investor Risk

Sole Proprietorship

Partnership

Corporation

Limited Liability Company

Political Risk

Alliance Risk

Reputation Risk

Chapter 10 - Contingency Planning

Contingency Planning

Disaster Communications

Disaster Drills

Safety Procedures Training

Emergency Response Team

Worker Flexibility

Automatic Detection Systems

Preventive Maintenance

Boiler-Related Activities

Hazardous Materials

Mechanical Drawings

Equipment Positioning

Safe Room

Flood Mitigation Activities

Hurricane Mitigation Activities

Replacement Facilities

Chapter 11 - Insurance

Insurance Policy Terms and Conditions

Deductibles

Limit of Insurance

Co-Insurance

Exclusions

Insurance Riders

Perils

Boiler and Machinery Insurance

Business Interruption Insurance

Policy Inclusions

Additional Coverages

Management Actions

Commercial Automobile Insurance

Commercial General Liability Insurance

Cyber Risk Insurance

Management Actions

Directors and Officers Liability Insurance

Management Actions

Additional Coverages

Inland Marine Insurance

Life Insurance

Political Risk Insurance

Property Insurance

Types of Property

Policy Inclusions

Policy Exclusions

Additional Coverages

Management Actions

Workers’ Compensation Insurance

Management Actions

Insurance Distribution

Insurance Company Analysis

Insurance Pricing

Managing the Cost of Insurance

Insurer Messaging

Covered Items Analysis

Double Coverage Analysis

Unlikely Payouts

Non-Comparability

Deductibles Analysis

Job Classification Analysis

Delayed Payments

Self-Funded Insurance

Captive Insurance Company

Insurance Claims Administration

Chapter 12 – Risk in Financial Analysis

Price Setting

Dividend Analysis

Capital Budgeting

Research and Development Funding Analysis

Financial Leverage

Chapter 13 - Risk Measurement and Reports

Core Reports

Losses Report

Incidents Report

External Risk Indicators Report

Insurance Claims Report

Cash Basis and Accrual Basis Reporting Variance

Third Party Credit Ratings

Aggregate Counterparty Exposure Report

Staff Turnover

Alliance-Related Staff Turnover

Compensation versus Benchmarks

Duration of System Downtime

Security Breaches Report

Error Rates Report

Number of Regulator Warning Letters

Customer Complaints Report

Credit Limit to Credit Usage Variance

Volume of Derivatives Trades

Bottleneck Utilization

Reporting Thresholds

Cash Forecasting

Glossary

Finance Course 845 Home: https://www.cpethink.com/cpe-for-cpas
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