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.
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.
Field of Study: Auditing
2 activities • 11 videos • duration: 1h 54m
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 24 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA. Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. -“Leading The Internal Audit Function” and -“Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition Ms. Fountain was a contributing author to the certification program exam for the National Association of Accountants. She also has certificate programs on various on-line platforms. Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
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Very pandemic-focused, but reasonable given it was drafted during the pandemic and the pandemic is an excellent case study for black swan-type events.
