Keys to maintaining an effective and strong internal audit department

An internal audit is essentially a pre-emptive manoeuver to maintain operational efficiency and financial reliability, and to safeguard assets. It provides independent assurance that an organization’s risk management, governance and internal control processes are operating effectively. Therefore it is imperative that organizations have a strong internal audit department that can providing an effective audit function. This webinar provides insights as to how you can have strong foundation for your internal audit department. It will also deliver key aspects for maintaining a sharp audit function. The details of two sessions that provide individual topics are as follows:

Session1: Foundations of a Strong Internal Audit Department

This CPE webinar will provide insight on the realities of internal audit management roles, and the elements needed to build a strong internal audit department to provide the most value for your company.

The Institute of Internal Auditors (IIA) has done a tremendous job raising the profile of the auditing profession. As auditors, we strive to abide by the standards and guidelines. But have you ever asked management within your company if they knew such standards existed? Do they truly understand the concepts of risk-based auditing, independence, and obligations to the board or charter requirements? It is surprising how so many of these basic concepts are taken for granted by auditors and that we assume management is aware.

Individuals considering an internal audit management role should understand the challenges as well as benefits that may be presented to them within this role. It is critical that certain elements of the job be well understood by those holding the positions. This session is designed to step into the reality of the internal audit management role, and discuss the following:

• Provide insight on the realities of internal audit management roles
• Elements needed to build a strong internal audit department
• Some of the concepts that aren’t always openly discussed within organizations--but are important concepts the internal audit manager should ensure they can clarify with management and be prepared to address on the job.
  

Session: Keys to maintaining an effective audit function

The globalization of business, ongoing changes in technology, increased attention of shareholders and stakeholders and the continuing demands of the Audit Committee and senior management require a dynamic framework for managing today's internal audit department.

This session, designed by a past Chief Audit Executive with significant exposure to a multitude of industries and internal audit frameworks, explores the following:

• The key competencies and responsibilities of today's internal audit management.
• Methods for meeting the requirements of the internal audit profession.
• Some of the greatest challenges of the role and how to address those challenges.

 This CPE webinar is suitable for:

Professionals new to evaluating the design and/ or implementation of internal audit function.