Key Benefits:
- Successfully create and maintain an internal audit function resulting in a more effective organisation
- Ensure your company has established an appropriate and effective system of internal controls
- Produce internal audit results that support your company and contribute to its effectiveness
About This Event:
Because of a long history of involvement in assessing risks, evaluating internal controls, and contributing to process improvements that improve the organisation’s performance, internal audit has gained status and visibility in many companies.
Under many of the corporate governance codes and company laws, internal audit is no longer an option, it is a requirement. However, the increasing status and visibility comes with investor and management expectations, as well as a professional responsibility, to perform effectively and contribute to the company’s success in meeting its objectives. Focusing only on more controls just for internal controls’ sake has not been an acceptable approach for internal audit for quite some time. The internal audit performance standard now is best practice that provide appropriate levels of control without excessive costs.
The modules of this course will provide information that will allow you to answer 10 important questions related to internal auditing and controls for your organisation.
• Does internal audit have a role in effective corporate governance?
• If you need an internal audit and control function, how do you get started?
• What models can you use for internal controls?
• If your company follows COSO, what is ERM and why do you need it?
• How do you establish risk-based auditing?
• Is your internal control system properly designed?
• Is your internal control system actually working? (Testing essential controls)
• Why doesn’t anyone read your internal audit reports and implement your recommendations?
• What tools should you have for internal audit?
• Are there unique internal audit considerations in supporting other types of organisations common in the GCC?
The materials will be supplemented by brief case studies related to effective internal audit and controls practices that have been successfully implemented at companies around the world. The goal is to give you additional knowledge and insight that can assist you in moving the internal audit activity in your organisation closer to a world class standard.
Who Should Enrol?
• Audit Committee Members wanting to know more about effective monitoring of risk management
practices and internal control systems (especially new Audit Committee members who may not have a
background in risk management and internal controls).
• Chief Audit Executives wanting to broaden exposure to practices that are effective in other companies
and other parts of the world
• Internal Audit Management and Staff wanting to expand their knowledge to position themselves for
advancement
• Business Process/Department Managers assigned ownership of the internal control system in their
areas of responsibility
• Business Performance Managers to better understand the relationships between business performance
objectives and internal control objectives
• Business Project Managers and Business Analysts who may be assigned to participate in internal audits
or internal control projects
• Information System Managers, Analysts/Programmers, Network and Database Administrators providing
support for or cooperation with internal audit or controls projects