Applying the COSO Enterprise Risk Management Framework: Not-for-Profit Governance and Assurance

Overview

This video-based CPE course is included in the Not-for-Profit Certificate II Program. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Governance and Assurance track.

How does your not-for-profit (NFP) ensure stewardship for funds received and accountability to constituents? Do you consider potential challenges or weaknesses - both operational and organizational - that could lead to negative consequences? Risk management is a continuous process. Failure to effectively consider and respond to risks could lead to lost revenue, increased costs, a tarnished reputation, and a decrease in constituents' perceived value of services. Not only is risk management an essential element of good governance, but it also informs the strategic planning process to keep an NFP on a path to mission success.

In this CPE course, you will learn how to apply risk management techniques using the COSO Enterprise Risk Management (ERM) framework to create a strategy and an internal control structure tailored for the NFP environment. This course contains step-by-step examples and case studies to help you create a scalable risk management structure for any NFP.

Highlights

Key Topics

• Assessing risks
• Risk heat maps
• Executing risk response strategy
• Designing internal controls
• Organizational communications
• Monitoring outcomes
• Application of COSO ERM for small NFPs

Prerequisites

Experience working in or with the not-for profit industry

Objectives

Learning Outcomes

• Apply the COSO ERM framework to improve decision making to accomplish your NFP's mission
• Identify risk response strategies
• Develop a reasonable risk management strategy