To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
ERM MASTER CLASS 2025 MANDATORY TRAINING
THEME: Driving Competitiveness and Sustainable Value Through Responsive Enterprise Risk Management
DATE: 27th – 31st OCTOBER 2025
VENUE: SAROVA WHITESANDS BEACH RESORT & SPA MOMBASA
TIME: 09.00AM-03.30PM
(This is one of the mandatory trainings for Practicing Certificate consideration)
OVERVIEW
In today’s increasingly complex and uncertain global economic environment, enterprises face a rapidly evolving array of risks that threaten their strategic objectives and long-term sustainability. The 2023 Global Risks Report by the World Economic Forum underscores the gravity of this reality, identifying the cost-of-living crisis, natural disasters and extreme weather events, and geo-economic confrontations among the most pressing global risks in the near term. Simultaneously, the accelerating pace of digital transformation continues to introduce new vulnerabilities such as cyber security threats and data privacy concerns.
These developments have heightened the need for innovative, integrated, and responsive approaches to risk management. Closer to home, the Kenyan business landscape has become increasingly volatile, with many organizations scaling down or relocating operations—resulting in job losses, reduced tax revenues, and weaker overall economic performance. These challenges are compounded by rapid shifts in the social, political, legal, and technological environment. Navigating this turbulence calls for agile leadership and adaptive risk management strategies. More than ever, the ability of professionals to anticipate, identify, assess, and respond decisively to risks has become a critical determinant of organizational resilience, competitiveness, and long-term growth.
Enterprise Risk Management (ERM) offers a holistic and structured framework for addressing these challenges. Unlike traditional risk management approaches, ERM embeds risk considerations into all facets of an organization’s strategy and operations, fostering a culture of accountability, resilience, and sustainable performance. A well-implemented ERM framework enables organizations to manage risks comprehensively and cohesively, thereby reducing earnings and stock price volatility, enhancing operational efficiency, and ultimately strengthening firm performance and value. This has a positive ripple effect on returns to investors and shareholders, while contributing to broader economic growth.
Therefore, this Masterclass is designed to equip delegates with critical knowledge and practical insights to effectively identify, assess, and respond to emerging and complex risks facing their organizations. In addition, it will provide a valuable platform for delegates to engage, exchange ideas, and network with fellow professionals in the risk management field. Ultimately, the program aims to empower participants to drive organizational resilience, enhance competitiveness, and foster sustainable value in today’s dynamic and rapidly evolving business environment.
Please note that the award of the certificate and the 20 CPD points will be contingent upon successful completion of an individual assessment based on the key learning areas covered in the Masterclass.
The Masterclass is divided into the following five modules covering key fundamental learning areas:
| DAY | MODULE | TOPICS | KEY AREAS TO BE COVERED |
| DAY 1 | Foundation and ERM Framework | Introduction to Enterprise Risk Management (ERM)
Developing the ERM Framework Evolving Risk Universe
|
1.      Key definitions in Enterprise Risk Management
2.      Differences between Risk Management and ERM 3.      Common misconceptions about risk management 4.      Components of risk management 5.      The link between risk management, internal audit & external audit 6.      Value of risk management 7.      The process of implementation of the ERM Frameworks for organizations 8.      Highlights of the pertinent regulation and guidelines, PFM Act, Treasury Circulars, COSO ERM Framework, ISO 31000:2018 etc. 9.      The role of different players in ERM Development and Implementation (Segregation of Duties) |
| DAY 2 | Execution- Risk Management Process | The Risk Management Process
Risk Appetite
|
The risk management process
Template of a risk register and how to develop it (Practical session) ·        Risk identification ·        Risk assessment ·        Risk quantification ·        Risk monitoring Risk reporting & communication- Sample of Reports (Practical session on reporting and ARC Presentation) ·        Setting risk appetite and linkage to strategy ·        Developing Key Risk Indicators (KRIs) |
| DAY 3 | Risk Governance & Leadership | Risk Governance
Risk Committees |
Risk governance
·        Risk and corporate governance ·        Brief on risk governance practices ·        Risk and strategy implementation ·        Overview of the various governance models- 3 LoD, Policing, Partnership, Offence & Defence ·        Risk governance tools ·        Importance of risk governance Risk Committees ·        Role and operations of the risk Champions forum ·        Risk Management Committee ·        Board Risk Committee Risk culture -Elements of an effective risk culture |
| DAY 4 | Â | Risk Analytics, Modelling, Automation and Quantification
ERM Assurance
|
Risk analytics, modelling and automation.
·        Approaches and tools for risk assessment ·        Risk modelling for effective risk quantification ·        Overview of the critical steps towards risk management automation. ·        Highlight into Basel and Solvency risk requirements. ·        Risk Automation (Practical session) Providing Effective Assurance Services over ERM Process. |
| DAY 5 | 1.      Moving Forward | 1.      ERM Human Capital and Positioning of the role in public and private sector
2.      Emerging issues in ERM
3.      Future and adequacy of risk management
4.      Soft Topic- Wellness |
·        Risk maturity assessment models and alignment of risk to corporate strategies
·        The evolving risk landscape and adaptation – economic, regulatory and technology ·        Creating resilience and flexibility in risk management frameworks ·        Positioning of risk functions in the public and private sectors
·        Team building and physical and mental wellness for risk professionals |
TARGET AUDIENCE:
It is open to all Risk and Internal Audit Professionals, Finance Professionals, Insurance and Banking Professionals, Board Members, Audit & Risk Committee Members, Senior Management of Organizations, CEOs and any other professionals seeking to obtain deeper knowledge in the area of ERM.
All members who would wish to practice in the future are also encouraged to enroll on the course as it provides practical skills required for effective performance of their roles in Risk Management
YOUR INVESTMENT:
This Master Class shall be provided at a cost of Kes.95,000.
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS:
Members of ICPAK and other reciprocating professional bodies will earn 20 CPD points upon successfully attending the Master Class.
ONLINE BOOKING:
We call on all participants to note that booking is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is MANDATORY.  This is available either online at www.icpak.com/events  or on the ICPAK Live – A smart phone-based application that is available from google store.
NATIONAL INDUSTRIAL TRAINING AUTHORITY (NITA) REIMBURSEMENT:
The Institute is registered as a trainer with the National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
PARTNERSHIP OPPORTUNITIES
The training presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. For more information or enquiries please email raphael.nguli@icpak.com.
Further requests can be channeled to us via telephone calls on +254 719 074 100, or via email to marketing@icpak.com.
We encourage members to regularly visit our website https://www.icpak.com for updates.
To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
