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Introduction
With the growing focus on corporate governance issues, organisations are increasingly exploring the potential benefits to be gained from establishing an Internal Audit function. Developing an effective Internal Audit capability can be demanding on management’s time, and requires the careful consideration of a wide range of issues to ensure the function works to its maximum potential. The increasing expectations from Internal Audit as well as the changing focus of Internal Audit from transaction-based to risk based is setting the pitch for changes in the process of setting up an internal audit function.
The process involves establishing internal audit department, staff acquisition, developing internal audit policy and procedures, developing an internal audit methodology, internal auditor trainings and other efforts that help to develop an efficient and effective internal audit function.
Topics:
• A brief understanding of role of internal audit and what it is all about
• How to establishing the functions terms of reference or mission statement
• Selection process and attribute of the Chief Audit Executive
• How to develop strategic and annual Internal Audit plans
• An overview of the working practices including the Internal Audit methodology
• A discussion on risk analysis models and audit software
• Determining the core skills required in recruiting the right staff for the function
• Identifying sources of ongoing support and training for Internal Audit staff
• Establishing accountability and quality control standards
On Completion You Will Learn How To:
• How to establish an internal audit function
• What are the ground work to be undertaken including formulation of charter and mission statement
• How to develop internal audit plans and audit working papers
• The various types of audits
• Various methodologies and tools available
• How to quality assure internal audit functions?
Lead Facilitator:
Fazal Hussain Gaffoor,
Chief Internal Auditor,
Central Depository Company of Pakistan, Pakistan
An FCA , CISA , CIA and a member of ACFE with over 18 years of experience at senior management levels. A regular speaker at various forums and also involved in trainings and workshop on wide verity of topics including , Internal Audit , Compliance , Corporate and IT Governance, Fraud and Risk Assessment. |