Board Directors

SEC

Training investment is inclusive of an e-certificate and a printed learning material

P 2,980.00 / person - when you register and pay on or before May 18

P 3,980.00 / person - Regular Rate

*Optional:
Add P450 for a printed copy of a certificate of attendance inclusive of delivery charge

TUESDAY, JUNE 18, 2024 * 9:00AM TO 12:15PM VIA ZOOM

Course Description

COURSE FLYER

PRINTABLE REGISTRATION FORM

A crucial part of a board’s effectiveness is to fully understand the function of its audit committee whose chairmanship is normally assigned to a board director. If you are a board chairperson, director, member of top management, CFO, auditor or accountant, this program will greatly help you understand what audit committees do and don’t do.

This highly-rated webinar is a very useful guide on how to oversee the entire financial process, boost internal control system, improve risk management, and assess committee performance.

Course Director & Lecturer

Ms. Judith V. Lopez CPA

She is former senior partner and chairperson of PwC Philippines with more than 35 years of experience in the fields of auditing, financial reporting and internal controls.

She served as the chairperson of International Monetary Fund’s (IMF) External Audit Committee (EAC), 2021; and was member of IMF EAC from 2018 to 2021.

Moreover, she served as chairperson of the Philippine Auditing and Assurance Standards Council, the Association of Certified Public Accountants in Public Practice in the Philippines and the Financial Executives Institute of the Philippines.

She also became a member of the board of directors of the Philippine Institute of Certified Public Accountants and a member of the Financial Reporting Standards Council.

She was an independent director and chairperson of the audit committee of the Philippine Veterans Bank until June 2022.

Course Outline

COURSE OUTLINE

Agenda I. Snapshot: Top Issues that Audit Committees should Keep in Mind

Agenda II. The Audit Committee and Good Governance

Revised Code of Corporate Governance Board Committees
Specific Duties and Responsibilities
- On financial reporting
- On internal control system
- On internal audit
- On external audit

Agenda III. Audit Committee Roles and Responsibilities: Adding Value

Financial Reporting and Disclosures
- Understanding the business
- Promote financial reporting quality and transparency.
- Materiality
- Significant changes during the reporting period
- Related Party Transactions

Internal Control System and Risk Management
- Risk Management and Internal Control System
- Financial Reporting Fraud

Oversight of Internal Audit
- Internal Audit
- Empowering internal audit

Oversight of External Auditors
- Why the external auditor oversight is important?
- Auditor independence
- Communications with the external auditor
- External auditor relationship with internal audit
- Evaluation of the external auditor
- Changing auditors

Culture and Compliance – The Soul of Corporate Accountability
- Tone at the Top
- Compliance and ethics programs

Agenda IV. Assessment of Performance of the Audit Committee

A Robust Assessment
Guidelines under the IC Code
Board action on assessment

Agenda V. Building an Effective Audit Committee

Committee composition
Meetings/ minutes of meetings
Training requirements of committee members
Climate of trust and candor/ Culture of Open Dissent

Agenda VI. Benefits of an Effective Audit Committee

Attendees from the government are exempted from the P2,000.00 limit set by COA for attending training provided by the private sector based on Department of Budget and Management Circular No. 563 dated April 22, 2016.

Attending this training is not covered by Philippine Procurement Law or RA 9184 based on its Revised IRR’s Section 4.5-b. which classifies training continuing education, conferences and similar activities as "non-procurement activities that shall be governed by applicable COA, CSC, and DBM rules".

WHAT ALUMNI ARE SAYING

"My assessment of this class is 10 stars! Very useful even for small and unlisted companies who need to setup an audit committee."

Atty. Diane Andin

"It's a good program to keep companies well informed as to the relevance of audit committees in the effective management/governance of corporations."

Corazon Bernardo-Dela Paz
Chairman, Audit and RPT Committee; Member, Board of Directors
PHINMA Education Holdings, Inc.

"This session is highly informative as regards the functions as well as limitations of Audit Committees."

Dr. Zorba BNN Bautista
Chairman
University of Baguio

"The session is comprehensive enough for the newbies in the Audit Committee. It also serves as a general affirmation of compliance of what are currently being observed in our organization."

Catalino S. Abacan
Chairman of the Board
Sun Savings Bank, Inc.

"Very good Speaker. Well organized online training. Good Job!"

Catherine Cheung
Independent Director, Internal Audit Committee Chair
Sun Savings Bank, Inc.

"We learned a lot from this seminar. Definitely great to have more of online programs like this."

Melanie Sia Lambino
Board Member
MWSS

"Very informative and enlightening."

Noel Fernando C. Cristal
President/ Country Director
UniTeller Filipino, Inc.

"It’s a refreshing insight in knowing the best practices for audit committees."

Jonathan I. Magsino
Internal Auditor
CEPALCO

"As chairman of the and a member of the audit committee, this webinar has thought taught me a lot in making a better and effective audit committee for our bank."

Jose Michael Gonzales
Chairman of the Board
Silahis Bank, Inc. (A Rural Bank)

"It was a very refreshing experience. The inputs of the speaker were all applicable to my current function as a member of an Audit Committee. Kudos to the CGBP organizers!"

Lilibeth Soriano
Board of Director
Rural Bank of Itogon

"The seminar was very helpful in clarifying the roles of the audit committee and Department vis a vis management."

Atty. Maricris Carlos
Board of Director
Clark Development Corporation

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Center for Global Best Practices (CGBP) is accredited by the following institutions

Contact Details

For clarification or request for an invitation letter, you may reach out to:

Contact Person: Elisha Afloro
Mobile Number (+63 939) 914-8689
Telefax: (+632) 8842-7148 or 59
Email: elisha_cgbp@yahoo.com

Inquire about the Course

Payment Methods

Account Name: Center for Global Best Practices Foundation, Inc.

Metrobank: 495-3-495-504-418
Unionbank: 0013-3002-7702
PNB: 1477-7000-0961
Landbank: 3832-1015-82

Board Directors' Guide for Audit Committees

SEC

Training investment is inclusive of an e-certificate and a printed learning material

P 2,980.00 / person - when you register and pay on or before May 18

P 3,980.00 / person - Regular Rate

*Optional:
Add P450 for a printed copy of a certificate of attendance inclusive of delivery charge

Course Director & Lecturer

Ms. Judith V. Lopez CPA

Address

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