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Audit Committee Program

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Training Partner:

Training Partner

Date

April 13, 2026

Program Duration

2 days

Language

English

Fees

20,700

In Class Training

Riyadh

About Program

The Program is designed to develop the capabilities of board directors, audit committee members, and senior executives in understanding and strengthening the role of audit committees within modern corporate governance frameworks. In light of increasing regulatory requirements in the Kingdom of Saudi Arabia and rising investor expectations regarding transparency and the quality of financial disclosure, the program focuses on enabling participants to effectively fulfill their oversight responsibilities, safeguard the integrity of financial reporting, and strengthen the reliability of internal control systems. Through an intensive learning experience that combines expert-led sessions, practical case studies, and interactive discussions, the program explores international best practices and regulatory standards related to the work of audit committees. This includes key areas such as independence requirements, effective oversight of internal and external audit functions, and the evaluation of internal controls over financial reporting. The program also highlights the role of the audit committee in overseeing enterprise risk management and strengthening compliance and governance practices within organizations. The program further aims to equip participants with practical tools and strategic insights that enable them to assess the quality of financial reporting, enhance communication with internal and external auditors, and strengthen the effectiveness of audit activities within their organizations. In addition, it provides participants with valuable opportunities to build professional networks, exchange experiences, and discuss practical challenges faced by audit committees in today’s evolving business environment.

Program Goals

Strategic Oversight of the Audit Committee

Deepen strategic understanding of the Audit Committee’s oversight role in safeguarding integrity, accountability, and stakeholder trust

Financial Statement Analysis

Improve board ability to assess financial statements and disclosures for transparency and quality.

Risk Governance and Controls

Explore alignment of risk governance and internal controls with organizational goals

Strengthening the Role of Internal Audit

Reinforce the internal audit’s role in providing assurance on governance, risk, and controls.

Communication with Auditors

Understand how to maintain effective communication with External Auditors and Chief Audit Executive.

Audit Quality Assurance

Review best practices in QAIP to enhance audit performance and relevance

Available Dates

Join us for an unforgettable journey of exceptional learning

The program adopts an interactive learning methodology that combines specialized lectures, practical case studies, and hands-on exercises, along with interactive discussions among participants This approach aims to develop a practical understanding of the role of the audit committee and enhance participants’ capabilities in auditing and governance through tools and frameworks that can be applied within organizations The program also addresses global best practices and relevant professional standards, linking them to the regulatory environment and business context in the Kingdom of Saudi Arabia. This contributes to strengthening the effectiveness of audit committee practices and supporting sound governance within organizations.

Program Structure

Two days

Duration

In-person

Delivery Method

Number of Training Sessions

Number of Group Activities

Program Agenda

Schedule

See all

Module 1: Strategic Oversight and Key Responsibilities of the Audit Committee

In Class Training

Introduction to safeguarding the integrity of financial statements and disclosures

Overview of internal controls and the enterprise risk management framework

General understanding of the independence and quality of internal and external auditors

Understanding the committee’s role in ethics, compliance, fraud, and whistleblowing programs

Module 2: Composition and Independence Requirements in accordance with KSA Regulations and International Best Practices

In Class Training

Overview of the Capital Market Authority (CMA) and Tadawul rules regarding the composition and independence of the audit committee

International benchmarks (OECD, UK FRC, NYSE, King IV) and their comparison with KSA requirements

Independence criteria: financial, familial, business relationships, and tenure-related conflicts

Practical steps for boards: nomination processes, annual independence assessments, and disclosure duties

Module 3: Financial Reporting Integrity and Analysis of Financial Statements

In Class Training

Key drivers of fair presentation: IFRS policies, judgment areas, and materiality thresholds

Analysis of warning indicators: ratio trends, cash flow quality, and off-balance-sheet exposures

Detecting earnings management practices such as revenue recognition, provisions, and one-off items

Linking financial results to business risks, strategy execution, and key performance indicators

Communicating findings by asking clear questions to management and preparing concise reports for the b

Module 4: Internal Controls over Financial Reporting (ICFR) and Red Flags

In Class Training

COSO-aligned ICFR framework and the roles of management and the audit committee

Mapping high-risk financial processes to key preventive and detective controls

Assessing design and operating effectiveness through walkthroughs and testing

Typical red flags such as uncontrolled journal entries, late reconciliations, IT access gaps, and override of controls

Module 5: Maintaining Effective Oversight of External Audit Quality and Independence, as well as Internal Audit Activities

In Class Training

Setting risk-based internal and external audit plans, defining scope, and determining resource levels

Assessing auditor independence, objectivity, and performance through KPIs and peer reviews

Tracking audit findings, management remediation, and the aging of open issues

Ensuring coordination among internal audit, external audit, and other assurance providers

Conducting annual evaluations of audit effectiveness and reporting conclusions to the board

Module 6: Future Proofing through Driving Quality Assurance and Continuous Improvement

In Class Training

Establishing forward-looking audit quality indicators and dashboards for proactive committee monitoring

Integrating data analytics, AI, and continuous control monitoring into audit scopes and reporting

Mandating periodic external quality assessments of internal audit and rotating external auditors when needed

Conducting lessons-learned reviews on control failures and embedding improvements into committee charters and KPIs

Promoting continuous upskilling of committee members on emerging risks, technologies, and regulatory developments

Trainers

Venture into a whole new realm of knowledge

This stage contributes to clarifying the program requirements and facilitating communication between participants and the administration to ensure a fruitful learning experience. It also provides an opportunity to verify the required documents and organize logistical details to guarantee successful participation

Admission Criteria

Leadership Level

Applicants should be Board Members, Audit Committee Members, or senior executives within organizations

Relevant Professional Background

Participants should have professional responsibilities related to governance, audit, risk management, or compliance

Application Process: Your Journey Starts Here

The admissions team will carefully review all elements of your application. The selection process will take up to eight weeks from the date of submission of a completed application.

Step 1

Online application and video interview

Step 2

Pre-selection and decision

Step 3

Interview with acceptance

Step 4

Admission Committee

Step 5

Final decision

Investing In Your Future

The program contributes to enhancing the capabilities of audit committee members and senior executives by equipping them with practical tools and up-to-date knowledge of international best practices in governance and both internal and external auditing. This investment strengthens leadership and analytical skills and improves the ability to make decisions based on accurate data, thereby enhancing individual performance and supporting long-term professional sustainability.

Key benefits for you and your organization

The program enables organizations to improve the quality of internal oversight and governance, ensuring transparency and accountability across financial and administrative operations. It also strengthens the effectiveness of audit committees in managing risks and monitoring performance, while reinforcing the confidence of stakeholders and investors. In addition, it supports the development of a sustainable work environment based on global practices and ensures the implementation of quality and continuous improvement policies that benefit the organization

Enabling participants to improve performance and make prompt and reliable decisions

Enhancing integrity and transparency while strengthening the quality of institutional oversight

Supporting strategic planning and enabling the organization to achieve its objectives efficiently

FAQ

Participants are expected to have a good command of English, both spoken and written, to actively engage in classroom discussions, contribute effectively, and fully understand the program materials and instructions.

The program includes interactive lectures and case studies

Current and newly appointed board directors seeking to strengthen their oversight and governance capabilities. Current and newly appointed audit committee members aiming to enhance their effectiveness within the committee. C-Suite executives who interact with audit committees and seek a deeper understanding of committee dynamics. High-potential professionals in internal audit, governance, risk management, and compliance (GRC).

Participants will receive a certificate of completion from The Financial Academy and the Center for Governance

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Audit Committee Program

Available Dates

Schedule

Module 1: Strategic Oversight and Key Responsibilities of the Audit Committee

Module 2: Composition and Independence Requirements in accordance with KSA Regulations and International Best Practices

Module 3: Financial Reporting Integrity and Analysis of Financial Statements

Module 4: Internal Controls over Financial Reporting (ICFR) and Red Flags

Module 5: Maintaining Effective Oversight of External Audit Quality and Independence, as well as Internal Audit Activities

Module 6: Future Proofing through Driving Quality Assurance and Continuous Improvement

Practical tools that can be immediately applied within audit committees

Exposure to global best practices in governance and auditing

Strengthening the ability to make strategic decisions based on accurate data

FAQ

?What level of English proficiency is required

?What activities are included in the program

?Who is the target audience for this program

?What certificate will participants receive upon completing the program