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Quest Training

Audit Committee Effectiveness & Oversight Training Course

Helps audit committees strengthen oversight of financial reporting, internal controls, risk management and compliance to sustain reporting integrity.

CG · Corporate GovernanceAll Levels#2946ClassroomEnglish , Arabic
Duration
5 Days
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Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Sectors:Risk, Compliance & GovernanceCategories:Corporate Governance

Course Overview

This course provides a practical framework for strengthening audit committee effectiveness and enhancing oversight of financial reporting, internal controls, risk management, and compliance. It examines the committee's role in supporting sound corporate governance, promoting transparency, and maintaining confidence in the integrity of organizational reporting and control systems. Participants will explore audit committee responsibilities, financial statement oversight, internal and external audit coordination, auditor independence, fraud risk, regulatory compliance, and communication with the board of directors and executive management. The course also addresses committee composition, member competencies, meeting effectiveness, agenda planning, and the evaluation of audit committee performance. Through practical case studies and structured exercises, participants will learn how to challenge management assumptions, evaluate audit findings, monitor corrective actions, and identify weaknesses in governance and control environments. The programme supports organizations seeking to strengthen accountability, improve assurance processes, and enhance the effectiveness of audit committee oversight.

Learning Objectives

  • Explain the mandate, responsibilities, and governance role of an effective audit committee.
  • Evaluate audit committee composition, independence, competencies, and operating procedures.
  • Strengthen oversight of financial reporting, accounting judgments, and financial disclosures.
  • Assess the effectiveness of internal control systems and enterprise risk management arrangements.
  • Improve coordination between the audit committee, internal audit, external auditors, and executive management.
  • Apply appropriate approaches to evaluating auditor independence, objectivity, and performance.
  • Identify indicators of financial reporting irregularities, fraud risks, and control weaknesses.
  • Enhance oversight of regulatory compliance, ethics, whistleblowing, and investigations.
  • Develop effective methods for reviewing audit findings and monitoring corrective actions.
  • Establish performance evaluation and continuous improvement mechanisms for the audit committee.

Who Should Attend

Members and chairpersons of audit committees. Board members responsible for financial oversight, risk, and governance. Chief financial officers and senior finance executives. Internal audit directors, heads of internal audit, and audit managers. External audit professionals and assurance specialists. Risk management, internal control, and compliance professionals. Corporate governance officers and company secretaries. Legal and regulatory affairs professionals involved in governance oversight. Senior executives responsible for financial reporting and control environments. Professionals involved in fraud risk management, investigations, and organizational accountability.

Learning Outcomes

  • Define the audit committee's responsibilities and its relationship with the board and executive management.
  • Assess whether committee composition and expertise meet organizational oversight requirements.
  • Review financial statements, significant accounting estimates, and material reporting judgments.
  • Evaluate internal control effectiveness and the adequacy of risk management processes.
  • Assess internal audit independence, resources, risk-based planning, and reporting quality.
  • Evaluate external auditor independence, audit scope, significant findings, and management responses.
  • Recognize warning signs of fraud, financial misstatement, and weaknesses in control activities.
  • Review compliance monitoring, whistleblowing arrangements, and investigation procedures.
  • Track audit findings, corrective actions, overdue issues, and remediation effectiveness.
  • Develop an audit committee improvement plan supported by measurable performance indicators.

Course Outline

Day 1

Audit Committee Mandate, Governance, and Effectiveness

  • The purpose and role of the audit committee within the corporate governance framework.
  • Core responsibilities, delegated authority, accountability, and reporting lines.
  • Committee composition, independence, financial literacy, and relevant expertise.
  • Developing committee charters, annual work plans, and meeting schedules.
  • Effective meeting management, agenda planning, documentation, and decision follow-up.
  • Evaluating committee performance and maintaining constructive relationships with the board and management.
  • Practical Exercise: Review a sample audit committee charter and annual work plan, identifying gaps in responsibilities, authority, and oversight coverage.
Day 2

Financial Reporting Oversight and External Audit

  • Understanding financial reporting processes and the preparation of financial statements.
  • Reviewing significant accounting estimates, judgments, provisions, and unusual transactions.
  • Assessing the quality, completeness, and transparency of financial disclosures.
  • Evaluating external auditor independence, objectivity, qualifications, and performance.
  • Reviewing audit scope, materiality, key audit matters, and significant audit findings.
  • Assessing management responses to audit adjustments, reporting issues, and recommendations.
  • Practical Exercise: Analyze a hypothetical financial reporting case and prepare audit committee questions concerning significant judgments, disclosures, and external audit findings.
Day 3

Internal Audit, Internal Controls, and Risk Oversight

  • The audit committee's role in protecting internal audit independence and organizational authority.
  • Reviewing risk-based internal audit plans, resource adequacy, and coverage of key risks.
  • Evaluating internal control frameworks and the design and operating effectiveness of controls.
  • Understanding enterprise risk management and the relationship between risk appetite and control activities.
  • Reviewing audit reports, root-cause analysis, and the significance of control deficiencies.
  • Monitoring corrective action plans, overdue findings, and management accountability.
  • Practical Exercise: Review a sample internal audit report and develop an oversight plan for significant control deficiencies and unresolved findings.
Day 4

Fraud Risk, Compliance, Ethics, and Investigations

  • Identifying financial fraud risks, misstatement indicators, and potential management override of controls.
  • Evaluating anti-fraud controls, segregation of duties, and transaction monitoring arrangements.
  • Overseeing compliance with applicable laws, regulations, internal policies, and reporting obligations.
  • Assessing whistleblowing channels, protection against retaliation, and escalation procedures.
  • Reviewing the governance of internal investigations, evidence handling, and confidentiality.
  • Coordinating with compliance, legal, internal audit, and external audit functions when significant concerns arise.
  • Practical Exercise: Assess a hypothetical fraud allegation and develop an audit committee response covering escalation, investigation oversight, reporting, and remediation.
Day 5

Audit Committee Reporting, Performance Evaluation, and Improvement

  • Preparing effective audit committee reports and communicating significant matters to the board.
  • Prioritizing issues according to financial impact, risk exposure, regulatory implications, and urgency.
  • Developing dashboards and key performance indicators for audit and control oversight.
  • Evaluating the quality of assurance provided by internal and external audit functions.
  • Conducting audit committee self-assessments and identifying capability development needs.
  • Establishing an improvement roadmap with clear ownership, deadlines, and monitoring arrangements.
  • Practical Exercise: Develop an audit committee effectiveness improvement plan with prioritized actions, responsible owners, target dates, and measurable oversight indicators.

Upcoming Dates

Selected date

Dubai · 12 – 16 Sept 2027 · Classroom

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CityDatesPrice per ParticipantEarly Bird
Cape TownScheduled
9 – 13 Nov 2026€5,100—
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DammamScheduled
15 – 19 Nov 2026€4,200—
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CasablancaScheduled
16 – 20 Nov 2026€4,300—
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DohaScheduled
22 – 26 Nov 2026€4,400€3,960until 2 Nov
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DubaiScheduled
29 Nov – 3 Dec 2026€4,400€3,960until 9 Nov
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ErbilScheduled
29 Nov – 3 Dec 2026€3,100€2,790until 9 Nov
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GenevaScheduled
7 – 11 Dec 2026€6,300€5,670until 16 Nov
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IstanbulScheduled
14 – 18 Dec 2026€4,700€4,230until 23 Nov
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JeddahScheduled
20 – 24 Dec 2026€4,200€3,780until 30 Nov
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KigaliScheduled
21 – 25 Dec 2026€5,100€4,590until 30 Nov
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Kuala LumpurScheduled
28 Dec 2026 – 1 Jan 2027€4,400€3,960until 7 Dec
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LisbonScheduled
28 Dec 2026 – 1 Jan 2027€5,400€4,860until 7 Dec
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LondonScheduled
4 – 8 Jan 2027€5,600€5,040until 14 Dec
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MadinahScheduled
11 – 15 Jan 2027€4,200€3,780until 21 Dec
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MadridScheduled
18 – 22 Jan 2027€5,400€4,860until 28 Dec
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MakkahScheduled
18 – 22 Jan 2027€4,200€3,780until 28 Dec
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ManamaScheduled
25 – 29 Jan 2027€4,700€4,230until 4 Jan
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MarbellaScheduled
1 – 5 Feb 2027€5,400€4,860until 11 Jan
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MuscatScheduled
1 – 5 Feb 2027€5,300€4,770until 11 Jan
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OnlineScheduled
7 – 11 Feb 2027€1,700€1,530until 18 Jan
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ParisScheduled
15 – 19 Feb 2027€5,700€5,130until 25 Jan
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SingaporeScheduled
15 – 19 Feb 2027€6,700€6,030until 25 Jan
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AbujaScheduled
22 – 26 Feb 2027€5,100€4,590until 1 Feb
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AccraScheduled
1 – 5 Mar 2027€5,100€4,590until 8 Feb
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AmmanScheduled
7 – 11 Mar 2027€3,100€2,790until 15 Feb
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AmsterdamScheduled
8 – 12 Mar 2027€5,400€4,860until 15 Feb
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BakuScheduled
15 – 19 Mar 2027€4,800€4,320until 22 Feb
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BeirutScheduled
21 – 25 Mar 2027€4,000€3,600until 1 Mar
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BarcelonaScheduled
22 – 26 Mar 2027€5,400€4,860until 1 Mar
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CairoScheduled
28 Mar – 1 Apr 2027€3,300€2,970until 8 Mar
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DubaiScheduled
12 – 16 Sept 2027€4,400€3,960until 23 Aug
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Available in: Istanbul · Dubai · London · Doha · Amsterdam

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