When comparing the function of a CRO to the rest of the officers, we find that there is a relationship with every other role. What is more unique to OCTAVE FORTE is that its documentation encourages continuous process, addressing continuous governance of risk. This presentation will explain how federal inspectors general created a task force to work collaboratively to investigate fraud schemes with their partners at the Department of Justice. Next, we will summarize frequent payroll frauds by using real-life case examples seen in small businesses along with various audit procedures used to test payroll for its accuracy, completeness, cutoff and occurrence. This panel will unpack the regulatory guidance and discuss best practices for cybersecurity firms and their banking partners to effectively manage regulatory and reputational risk. Before, he was Head of Group Audit at DZ BANK AG, one of the three largest banks in Germany for more than 17 years. Dima Ghawi, LLC, Leadership Keynote Speaker. A chief risk officer (CRO) is relatively considered a newer position in the board of directors. When the dust settled, the school's superintendent and the technology company's president were each sentenced to seven years in prison and ordered to pay $125 million in restitution. Mahendra is an Associate Director within the GRCS practice in KPMG; and has 12 years of experience in risk Consulting. Was the conflict fully disclosed and vetted, or was it well-hidden? The purpose of internal control is to ensure these objectives are achieved. CPE: 1.5 | Ethics CPE: No When you fight fraud for long enough, you will become familiar with all three. Session Level: Basic Fadi has a deep understanding to the ESG and its related risks and opportunities including strategy development, stakeholder engagement, materiality and maturity assessments, reporting, social & environmental impact measurements and assurance. This session will give you an idea of the evolving use of passwords and biometrics, and the future of account security. Today, we also help build the skills of cybersecurity professionals; promote effective governance of information and technology through our enterprise governance framework, COBIT and help organizations evaluate and improve performance through ISACAs CMMI. They may deal with topics regarding insurance, internal auditing, corporate investigations, fraud, and information security. Recommended Prerequisite: None Audience members leave with actionable takeaways that can be employed to create a productive, engaging and inclusive workplace for their team. This session will detail the evolution of the latest trends in investigating fraud claims and conducting surveillance in the pending, post-pandemic era. Now running on his fifth term, Abdulqader was selected to serve on the IIAs Global Advocacy Committee and nominated to Chair the Federation of Arab Institutes of Internal Auditors.He led the Arabization projects of both the Certified Internal Audit Certification (CIA) as well as the Sawyers Guide to Internal Auditing and Fraud professionals are emerging and operating like legitimate businesses, with strategies, revenue goals, market niches, marketing plans and operational programs. His famous Straight Line System, used to train the most effective salesforces in the world, has been curated over the last thirty years and refined into a foolproof solution for turning virtually any individual into a world-class closer and top producer in their field. Jeff Matthews, CFE, CPA The scope of services provided ranges from Internal Audit Advisory work related to setting up internal audit departments, complete outsourcing and co-sourcing with in-house internal audit departments and other Business Control and Enterprise Risk Solutions. You will hear about different approaches to establishing a whistleblower program, various challenges you might face in different regions and how to communicate your program to key stakeholders. By eliminating uncertainty and ambiguity, you can make it much more difficult to successfully challenge your investigative and audit findings. Each attribute adds to the quality of the report and increases the chances that the report will be beneficial to management and other users. Chambers also serves as a non-executive director on the Board of Directors of SWAP Internal Audit Services in the UK, the overseas Dean of Chinas Nanjing Audit University, and on UNICEFs Audit Advisory Committee. Fadi has been working in Kuwait to support clients in their ESG journeys like KPC, KFH, KIPIC, PIC, Zain Telecom and others. Information technologySecurity techniquesInformation security risk management and the Choose the Training That Fits Your Goals, Schedule and Learning Preference. Hoboken, NJ: Wiley. Rami started his career with Ernst & Young, then led the Internal Audit function to a multi-national entity across the MENA region. Vision-driven Certified Internal Auditor with career-long record of fraud investigation and audit management success for leading organizations. PMI) Project Risk Management, International Organization for Standardization(ISO)/International Electrotechnical He also leads ANBs automation initiatives and is actively involved in development of the Governance through Robotics platform. He has written and co-authored numerous books & articles on varied subjects related to environmental topics including soil atlas, nano particles, sludge/metals, soil remediation and many more. Field of Study: Specialized Knowledge Enjoy the hospitality. On the one hand there were the employees who were responsible for making money by selling products and financial services and on the other hand there were the ones responsible for limiting risks. Build a risk awareness culture in the organisation. Session Level: Basic Dr. Seita holds a Ph.D. in Human Resources, Leadership and Organisational Behavior from the University of Portsmouth, in UK. Maryam has over 17 years of Advisory experience with KPMG. ADP, Global Security Organization. WebChairman of the Board of UAE IAA. We will discuss the benefits of using technology such as machine learning to spot the patterns the naked human eye cannot see. Jaap obtained his masters (1989) and PhD (1993) in Physics and Mathematics from Utrecht University in the Netherlands. How does this external evangelization work into your fraud prevention strategy? In-house investigations teams, compliance program management, and consulting present a growing space where CFEs can leverage their expertise to help companies manage risk across various disciplines from end-to-end. Also, the process as defined in ISO 31000 is fully covered by the different A huge experience at value addition. This session will explore alternative payment systems and what investigators should know to stay one step ahead of the fraudsters as the industry continues to evolve. The information was timely, relevant and expertly delivered. WebRisk capital is funds invested speculatively in a business, typically a startup . John Blaho Hamdan conducted an investigation into a large GCC investment bank that has gone into administration on behalf of a GCC regulator to review the flow of investor funds related to two of the banks infrastructure projects to determine if there was any indication of wrong doing /fraud by the parties involved, Developed and enhanced the methodology used by the Global practice for auditing / reviewing ERP systems, particularly in relation to Security, and GRC, Led an ISAE 3402 attestation engagement for a leading business process outsourcing service provider KSA, Led a SOC 1 and SOC 2 Type 1 and Type 2 examination for controls relevant to trust principles Security, Confidentiality and Availability at one of the leading IT organization Qatar, Worked on an ISAE 3402 attestation engagement for a global bank providing various services Australia, Security risk assessments based on client defined assessment methodology adopted from ISO 27001 controls Australia, Led IT Security and business process review Internal Audit assignment for a major airline company KSA, Led various risk assessment and audit engagements Model Business Processes: Developed model business processes for Project Management Function. The update focuses on ERM and more heavily considers risk in processes and performance management. The ACFE/COSO Fraud Risk Management Guide (FRMG) was published in 2016 and quickly gained acceptance for providing best practices to prevent, detect, and thus deter fraud. There's a lot written on this topic, so we will look at some key areas (and pitfalls) to help you laser in on the truth remotely. The unique nature of Ponzi-based frauds involves characteristics that can make a scheme more difficult to detect and enable it to run longer than other fraud schemes. She is a thought leader as well as a seasoned expert in the field of quantum leadership, mind training, executive and personal coaching, and family business. During this session, we will discuss how companies can use technology to solve operational efficiency issues, optimize spend by influencing behavior and mitigate spend risk. Robert Rudloff, Jr., CFE, CIA, CRMA He and his team of 60 bright, enthusiastic and techno-functional resources provide assurance and audit services around technology & digital risks affecting financial statements and business operations. Governance and culture -- which establish the oversight for ERM. The title of a CRO is a fairly new position in a company that is continually evolving. There are different effects that can be caused by this less integrative model: Over-hedging and far too much insurance cover can be a result of not incorporating all the different kinds of risk and their wide diversification. Using a case study of a fictitious global bank operating in 50 countries and facing the release of the very real Panama Papers, the session will provide an overview of how a bank should manage such a significant investigation. CPE: 1.0 | Ethics CPE: No The integration between finance and risk platforms may also relax different aspects like calculation or the integration of Data. This presentation will detail several evidentiary procedures that you can use to eliminate uncertainty in your audits and investigations. Rather than assuming that risk mitigation occurs separately from other This presentation will provide an introduction to the concept of business email compromise, then cover the top BEC attacks, how they work and the steps to take if you or your client has been victimized. He was recently on the IIA North American Board and Global Board. He has successfully chaired the annual UAE-IIA Regional Conferences since 2010. United Arab Emirates. Giridhar has contributed in various ERP integrity, application controls review and information systems audit related engagements in the banking / finance, manufacturing, industrial, insurance and oil / gas industries. This can be caused by the management itself or a lack of institutional skills. Rather than assuming that risk mitigation occurs separately from other to respond to and mitigate risk. How can financial institutions better differentiate between legitimate and nefarious transactions? Alaa is an industry 4.0 and digital transformation expert, his core expertise spans oil and gas, utilities, education, aviation and public sector industries. We will discuss how to harness the power of curiosity to mitigate subconscious biases that can occur in investigations. WebThe most recent iteration of the COSO ERM Framework, adopted in 2017, highlights the importance of embedding it throughout an organization in five critical components: Governance and culture; Strategy and objective-setting; Performance; Review and revision; Information, communication, and reporting This helps organizations to proactively respond to institutional investors who want a focus on strategic long-term value creation. Field of Study: Auditing Related positions of a CRO include CEO, CFO, chief risk management officer,[9] Risk Manager and Capital Manager. As acceptance of cryptocurrency skyrockets, new U.S. anti-money laundering legislation has called for virtual currency exchanges to fall under registration and compliance requirements. Recommended Prerequisite: None COBIT 5 for Risk is that it provides 20 risk scenario categories to help organizations better mitigate risk. Thank you IIA UAE . Field of Study: Auditing To enable you to maintain your IIA certifications and qualifications, the conference provides an opportunity to earn up to16 Continuing Professional Education (CPE)credit hours over the 2 main days of the conference. Governance and Culture establishes organizational processes and defines desired cultures to measure and Mohamed has over 17 years of experience in Risk Consulting Services and currently leads GRC solution in Saudi and Levant. It is also important to create an ongoing employee training program; a strong employee training program means there is less employee mistakes therefore less money wasted within the corporation, and this could also avoid big issues such as bankruptcy or bad company reputation. U.S. Department of Energy, Deputy Assistant Inspector General for Investigations. This session provides an overview of the Colonial Pipeline cybersecurity attack while also calling attention to the dangers of hacking organizations, such as DarkSide, on the worlds vital businesses. Managing Risks: A New Framework, Retrieved 2 December 2017. COBIT 5 for Risk, however, provides more extensive guidance and includes areas not covered by ISO 31000, such as The framework was developed to help organizations reach objectives related to operations, reporting and compliance. Get ready for this thought-provoking, innovative session on ethics! Citrin Cooperman, Partner. outputs such as a risk management strategy, a risk management communication plan, and financial and budgetary requirements Scott is a national Sloan Fellow/ Woodrow Wilson Fellow. One of the most widely embraced ERM frameworks is COSOs Enterprise Risk Management Integrating with Strategy and Performance issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Chief Risk Officer: What Does It look Like and How Do You Get There? COBIT 5 for Risk Reprinted with permission. There is the obvious financial loss coupled with the potential adverse impact on an investor's lifestyle. The consequences of investment fraud can be severe. Recommended Prerequisite: Knowledge of COSO ERM, the Three Lines Model and/or risk management As of 2017,[vague] there are more than 1000 CROs worldwide. He finds himself deeply engaged in productive conversations in those arenas with visionaries who strive for permanent positive change. Session Level: Basic Hamdan has worked on one of the largest private frauds in the world, where he provided a wide range litigation support to a team of lawyers and legal experts. The helix is based on five components, each supported by multiple principles. CPE: 1.5 | Ethics CPE: No He has led the development of a number of complex and bespoke IT systems, including secure systems in financial services, which help clients capture, manage and analyse operational and financial data. This calls for a stronger role in challenging prevailing assumptions and giving shape to key uncertainties in a way that illuminates the impact of plausible scenarios and informs senior management decisions. Recommended Prerequisite: None Hamdan was part of team that was appointed to conduct an investigation into a private equity firm to review multiple funds and to determine the use of funds and to review the fund expenses. The COSO ERM framework focuses on embedding risk into all organizational decisions. It offers a very lightweight risk management process, and OCTAVE Allegro is a great risk management framework if your organization has a single practitioner new to risk management. 1 implementation and testing, internal financial control implementation and testing, enterprise risk management implementation and designing of SOPs (policies and procedures) engagement teams across clients in various sectors and geographies. CPE: 1.5 | Ethics CPE: No EY, IT Advisory - Financial Crimes-Fraud and Compliance. CPE: 1.0 | Ethics CPE: No Dimitrios has 30 years of hands-on information security experience gained working in enterprise InfoSec groups and consulting, service and solution providers. 3729, as well as how the FCA is a truly valuable mechanism for protecting CFEs who find themselves in this precarious situation. Thus, the SarbanesOxley Act enhanced corporate financial reports and made several reforms in the accounting profession. Paritosh is the lead partner at KPMG Lower Gulf for any offerings relating to Blockchain technology solutions to clients in the Lower Gulf. In terms of level of complexity, its comparable to NIST RMF, and its necessary to have a team of practitioners or a risk committee to manage the framework. COSO) for enterprise risk management (ERM), the Risk Management Societys Hoboken, NJ: Wiley. He has led efforts on building the IA data analytics team at GRCS as well as K-RISSE (KPMG Risk Integrated Strategy Simulated Enabler) Framework Model which integrates and transforms ERM from siloed risk driven approach to a holistic risk management program. [39] Even though the CRO is a senior executive officer in the company, there are several limitation in what the CRO is able to control. We will examine what theories and practices succeeded and why they did, and why the unsuccessful ones did not. Join the discussion about your favorite team! Mike is also an Adjunct Professor for Pace University where he teaches the IIA Learning System for the Certified Internal Auditor Exam. WebMarketingTracer SEO Dashboard, created for webmasters and agencies. Click on them for their detailed profiles. Scott Amyx is the Chair & Managing Partner at Astor Perkins, Forbes New York Business Council Member, Singularity University/ Smart City Accelerator mentor and startup board member and SXSW Pitch (formerly SXSW Accelerator) judge. Those managing risks for private corporations are paid a higher average salary of $216,000 annually. COBIT 5 for Risk principles and enablers. But in his opinion covered companies should be allowed a measure of flexibility in determining how such an organization should be structured. In a recent case study completed over the course of over a year, we identified major areas of concerns related to documentation integrity, gaps in written information, conflicting paperwork, and a variety of unusual scenarios affecting one of the most vulnerable populations receiving services: children with autism. [38] The team deserves accolades and praise for a very well managed conference. Using this knowledge, we can adapt and revise our rapport-building and conversation management approach, including questioning techniques. , USA, 2013. Christopher Covington This means that, for the first time, it is no longer up to the individual to prove retaliation but, instead, the company must prove that they did not retaliate; failure to do so will result in penalties, and reputational damage. Jethro Cornelissen, CFE, CISSP, ISSMP, Ron Van Amsterdam, CFE. This updated model accounts for the increased complexity of modern business environments. Chris Tierney, CFE, CTP These reports assist the CRO in creating a risk profile. Performance identifies, assesses severity, and prioritizes risks which may impact the achievement of strategy and business objectives. Field of Study: Information Technology Giridhar is a Chartered Accountant from Institute of Chartered Accountants of India (ICAI) and a certified Information Systems Auditor, with more than 15 years of experience in Information Systems, Security and Accounting engagements with Ernst and Young. CPE: 1.5 | Ethics CPE: No We would like to thank UAE IAA on your amazing efforts for putting together 10th Chief Audit Executive Conference. Performed research, legal analysis, drafted corporate legal documents including bilateral and syndicated loans, letters of credit. Experienced Auditor with a demonstrated academic expertise in Accounting, and a professional expertise in the fields of Auditing and Strategic and Digital Transformation. CPE: 1.5 | Ethics CPE: No With their quantitative background in math, finance, and accounting - making the change to risk management would be a familiar experience. As a result, this leads to the benefits and improvements gained from utilizing an ERM approach can be seen in the form of loss reduction, improved shareholder value, decreased earning volatility, and an increase in the firms earnings. Richard F. Chambers, CIA, CRMA, and CFE is founder of The Audit Trail Academy and serves as Senior Internal Audit Advisor for AuditBoard the leading cloud-based platform transforming how enterprises manage risk. You will also hear the challenges the presenters faced in this journey. Giridhar was involved as an ERP implementation consultant for small and medium business enterprises prior to joining Ernst & Young. category of Rising Stars in Security and Risk and the 2016 Security Advisor Middle East award in the category of Personal Associate Director, Protiviti (Middle East). The conference was well attended and presented an excellent opportunity to network. Recommended Prerequisite: None objectives. Mike is also an Adjunct Professor for Pace University where he teaches the IIA Learning System for the Certified Internal Auditor Exam. Originally issued by COSO as the Enterprise Risk Management Integrated Framework in 2004, the framework was Dive deep into the latest schemes through the following case studies. Recommended Prerequisite: None As the session closes, we will discuss how a money laundering expert may help drive your fraud case. CPE: 1.5 | Ethics CPE: No Using examples and evidence from successful cases, the presentation will show you how to implement several different enhancements that will fortify your investigative and audit work products so that they will withstand determined challenges from opposing parties. If there is a reasonable indication of unreported or additional income, an indirect method to reconstruct that income may be used. The COSO framework was updated in 2017, with a name change to "Enterprise Risk Management -- Integrating with Strategy and Performance." While heading the risk management department the CRO is allowed freedom to control and mitigate risk when it does not require a large demand. He oversees the development of executive education, leadership development programmes, training and development methodologies and technical and behavioral evaluation, analysis and assessment for the Academies in the region. He is the recipient of the 2017 Middle East Security Award in the IDM Members' meetings for 2022 will be held from 12h45 to 14h30.A zoom link or venue to be sent out before the time.. Wednesday 16 February; Wednesday 11 May; Wednesday 10 August; Wednesday 09 November This should help reduce the volatility of the company's earnings, thus enhancing shareholder value.
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