Performing an effective Business Risk Assessment in Crisis Times

Field: Auditing | Delivery Method: Self Study | CPE Hours: 2.0

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A successful business strategy depends on the ability to perform an astute risk assessment. That’s hard enough to deliver under the best of circumstances — and COVID-19 leaves companies performing risk assessments under some of the worst. Clearly fresh risk assessments are necessary.

COVID-19 has transformed a host of business operations, and that means a host of business risks have changed, too. At the same time, however, your ability to assess those risks has come under strain, often in very practical ways. The purpose of the business assessment is to identify core functions and key people in your business to understand:
Parts of the business most under strain, so you know what to protect.
Opportunities to boost certain products or services to meet changing customer demand.
New ways of working that can benefit both employees and customers
The question becomes, what specific factors should professionals take into account to perform a business risk assessment in this COVID-19 environment. It is easy to say “everything” has changed but what does that really mean to your business and your strategies?

Who Should Attend:
  • Accountants and Finance professionals
  • Internal auditors/Professionals considering the role of internal audit
  • Legal and Compliance professionals


Topics Covered:
In this session we will explore the concept of business risks assessments and how the COVID-19 pandemic had changed the way organizations should approach and execute their assessments. We will review risk factors embedded in the new business environment and discuss the reality of taking this opportunity to pause and take a critical look at your current business so you know what to protect and where to focus your efforts.


Upon successful completion of this course, participants will be able to:
  • Evaluate the difficulty with the traditional risk assessment process
  • Examine key risk exposures that may have arisen due to COVID.
  • Explore 3 core components of a dynamic risk assessment
  • Decide on risk management approach
  • Determine risk appetite
  • Detect risks and control weaknesses
  • Understand and explore variations in the concepts of risk appetite, risk tolerance and likelihood.
  • Examine how to safeguard your business with COVID-19 risk management tactics
  • Explore model or scenario type risk assessment plans

Field: Auditing
CPE: 2
Delivery Method: Self-Study
Format: Video


Your Instructor


Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author


Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.


As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.


Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma


Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  


Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.


https://www.lynnfountain.net/


Course Curriculum


  Performing an effective Business Risk Assessment in Crisis Times
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Frequently Asked Questions


When does the course start and finish?
The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish.
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How does lifetime access sound? After enrolling, you have unlimited access to this course for as long as you like - across any and all devices you own.
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