A key imperative for the long-term sustainability of any organisation is to achieve the right balance between performance and conformance (compliance). To achieve this balance, an organisation must apply the elements of good management, being strategy, operating model and processes, people and culture, and technology and information. These elements must be underpinned by the Three Lines Model. Internal audit plays a critical role in helping the organisation achieve the right balance between performance and conformance, through:
Understanding the organization’s vision, mission, and strategy
Considering risks, based on the organization’s context
Ensuring controls are targeted at ensuring the achievement of both performance and conformance outcomes
Controls operate as expected, and the organisation adapts its control environment to changes in both the external and internal environment, and
Assurance activities across the Three Lines Model are effectively coordinated.
BENEFITS OF ATTENDING
Share ideas and build your knowledge and apply the relevant theory, best practices, and standards through relevant examples, participants will:
How to ensure internal audit delivers value and helps the organisation achieve the right balance between performance and conformance
Understand the current state and direction of best practices in risk-based internal audit
Understand the fundamentals elements required for an effective risk-based internal audit
Understand role and accountabilities for assurance across the Three Lines Model, and
Understand how to audit key audit risk areas, including third party, cyber security, and culture.
Understanding today’s risk profile and trends and developments in governance and compliance.
Understand the increasing expectations of internal audit and deliver value for stakeholder’s while applying innovative risk-based approaches.
Deepen your understanding of the expanding risk-universe and how risk-based strategies, leveraging control and culture.
Discuss how to practically deliver on the internal audit strategy and plan in a risk-based manner.
Understanding the role and responsibility of the auditor in finding, investigating and reporting compliance breaches and fraud.
Discuss compliance breaches and fraud and how to approach forensic investigations.
Working with risk management, compliance, legal counsel and other specialist resources in delivering on full scope assurance to the Board.
Improving communications with the Board, Executives, Regulator and External Auditor.
