Critical Questions Answered by CERM® – Electric Reliability™

What does the NERC Reliability Assurance Initiative (RAI), proposed CMEP changes, Actively Monitored List (AML) and the tiered approach to auditing mean to registered entities?

What are the major differences between the current ‘zero defect’ and NERC’s proposed Reliability Assurance Initiative (RAI)?

How will regional entities (best guess) conduct risk-based assessment and compliance monitoring using GAGAS (Yellow Book)?

What are Yellow Book and Red Book Auditing and how will performance and effectiveness audits impact registered entities?

What do fundamental concepts and terms mean such as RAI, risk based decision making, risk assurance, inherent risk, residual risk, risk frameworks, CIP GAGAS, etc

How does the registered entity design, develop, deploy, and assure an adequate control framework and mitigating risk – controls?

What should registered entities do NOW to prepare for RAI and what would an action plan for the next six months and year look like?

Certified Enterprise Risk Manager – Electric Reliability Learning Objectives and Outline

Length – Three Days
CERM – ER Learning Objectives

This course will enable attendees to understand:

  • Common risk concepts and develop an ERM vocabulary
  • How to assess risks
  • How organization determine risk appetite
  • How to prioritize and prepare risk response (treatment) strategies to mitigate and manage organizational or business unit risk
  • How to design, monitor, evaluate, and test the effectiveness of a system of internal controls
  • Determining audit scope and documenting the elements of findings using principles of ERM
  • Determining risk in audits

CERM – ER Course Modules

  1. Context (Risk)
  2. Internal Environment
  3. Objective Setting
  4. Risk/Event Identification
  5. Risk Assessment
  6. Risk Response
  7. Control Activities
  8. Information & Communication
  9. Monitoring
  10. Value Added Auditing™ (GAGAS) Sections
    Planning
    Fieldwork
    Reporting
  11. CERM Exam

 

Critical Questions Answered by CERM® – Electric Reliability™ – Greg Hutchins

Greg Hutchins pixWhat does the NERC Reliability Assurance Initiative (RAI), proposed CMEP changes, Actively Monitored List (AML) and the tiered approach to auditing mean to registered entities?

What are the major differences between the current ‘zero defect’ and NERC’s proposed Reliability Assurance Initiative (RAI)?

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