Essence of Audit Quality - Governance Tool

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Presentation by IFAC Board member Abdeljelil Bouraoui to the Institute of Chartered Accountants of India's International Conference

Presentation by IFAC Board member Abdeljelil Bouraoui to the Institute of Chartered Accountants of India's International Conference

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  • 1. Essence of Audit Quality:Governance ToolJelil BouraouiBoard Member, IFACICAI International ConferenceChennai, IndiaJanuary 8, 2012 Page 1 | Confidential and Proprietary Information
  • 2. Drivers of Sustainable Organizational Success Customer and Stakeholder Focus Sustainable Organizational Effective Leadership and Strategy Integrated Governance, Risk and Control Success Innovation and Adaptability Financial Management People and Talent Management Operational Excellence Effective and Transparent Communication Page 2 | Confidential and Proprietary Information
  • 3. Governance in Organizations • Performance responsibilities (a) focus on opportunities and risks, strategy, value creation, and resource utilization, (b) guide an organization’s decision- making. • Conformance responsibilities include compliance with laws and regulations, best practice governance codes, accountability, and the provision of assurances to stakeholders in general. Page 3 | Confidential and Proprietary Information
  • 4. The Roles Professional Accountants Can Play inOrganizations Page 4 | Confidential and Proprietary Information
  • 5. IFAC’s participation in international governanceinitiativesa. IFAC/UNCTAD collaboration on governanceb. OECDc. IFAC’s G20 recommendationsd. COSO Internal Control Integrated Frameworke. ISO 31000 (risk management)f. CIPFA Page 5 | Confidential and Proprietary Information
  • 6. IFAC Guidance and Information on Governancea. Evaluating and Improving Governance in Organizationsb. Sustainability Frameworkc. Code of Conduct for Organizationsd. Code of Ethics for Professional Accountantse. International Standards on Auditingf. Governance in the Public and not-for-profit Sector Page 6 | Confidential and Proprietary Information
  • 7. Thank You Page 7 | Confidential and Proprietary Information