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Courses/Audit & Assurance/Risk Management

Evaluating Alternative Risk Categorization Schemes

Course number 3 will clearly delineate the positive and negative features of categorization schema that need to be known.

Created byGreg Duckert
4.6
(74 reviews)
BeginnerUpdated Sep 6, 2022
Evaluating Alternative Risk Categorization Schemes

What You'll Learn

check_circleA key learning objective will be to be able to determine what makes a good risk categorization schema versus a bad risk categorization schema.
check_circleYou will learn whether complexity Is a desirable trait or an undesirable trait in the subject matter of risk categorization.
check_circleYou'll discuss the types of schema that are in use and their good and bad features, as well as what needs to be avoided when trying to classify risk.
check_circleAnother very key concept that must be learned and kept in mind is that not all data can be used in the evaluation of risk. You will need to understand why this is and precisely what data traits must be present for data to be used in risk assessment.
check_circleBecome able to determine what makes a good risk categorization schema versus a bad risk categorization schema.
check_circleYou will learn whether complexity is a desirable trait or an undesirable trait in the subject matter of risk categorization.
check_circleUnderstand and keep in mind that not all data can be used in the evaluation of risk.
check_circleUnderstand why this is and precisely what data traits must be present for data to be used in risk assessment.
check_circleLearn about the risk categories of OCC (Office of Comtroller of Currency ) and COSO/ERM
check_circleUnderstand the business risk assessment categories related to GD
check_circleAnalyze the defining of the data inventory as related to the business structure

About This Course

In order to have any types of intelligent discussions relative to risk and the various types of risk that any organization can encounter it can be helpful to have a risk categorization schema. These tools can then be used in group-based discussions but also in settings where executives are involved and need to get a perspective on where the real risks are.

The fact that risks are many and varied is not at all unusual. But when they can be categorized as this course will clearly discuss, then a more definitive method of dealing with them can normally be arrived at. That is because the pictures of risk become much more clear. There are many varied types of categorizations that can be used. This course will clearly delineate the positive and negative features of the categorization schema that need to be known.

The intended audience for this course is professionals who want to build their knowledge in the areas of risk and data analytics. These are the two most important areas of knowledge building in the world of industry and government today. The intended audience is those people who are both starting out, but also, for those who work in all areas and have experience but have never been educated in the areas of risk and data analytics and how they can be applied.

The ultimate intent of this series of courses is to have somebody earn a professional certification in analytics which will further their careers both now and in the future. The value of earning recognition through certification in these areas will certainly be a distinct advantage in any job searches and/or advancement opportunities they pursue in the future. These types of skill sets will also have a favorable impact on their ultimate compensation in their future careers.

Field of Study: Auditing

Your Instructor

Greg Duckert
Greg Duckert
menu_book8 courses
star348 reviews

Gregory H. Duckert, MBA, CERMDA, CCARDA, CFADA, CPA, CRISC, CRMA, CISA, CIA, CMA Founder of Virtual Governance Institute LLC Mr. Duckert is an internationally recognized expert in the field of Enterprise Risk Management and data-analytics based approaches to auditing and risk assessment. He is the author of "Data-Centric ERM: Common Sense That Isn't Very Common”. He possesses 9 professional certifications and is the sole developer and owner of a data centric proprietary approach to risk assessment and management. These methodologies are universally applicable to ERM and to enterprise risk methodologies for Internal Auditing and risk management of all types in organizations of all sizes. Mr. Duckert was educated at the University of Wisconsin - Madison and obtained an MBA in Accounting in 1989, a BBA in Accounting in 1978, and a BA in Economics in 1971. He is in demand to speak frequently at national and international conferences. Virtual Governance Institute, LLC The company he founded, Virtual Governance Institute, is the creator of THE only three professional certifications for audit and risk professionals in the field of data analytics. They are CERMDA (Certified in Enterprise Risk Management Data Analytics), CCARDA (Certified in Continual / Continuous Audit & Risk Data Analytics) and CFADA (Certified in Fraud Auditing & Data Analytics).

Credit Information

Is this course eligible for my CPD requirements as a Canadian CPA?

Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.

Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.

What Students Are Saying

4.6
Student's Choice
74 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.