This document outlines the proposed structure and functions of the SABPP Audit Unit. Key points:
- The Audit Unit will have a CEO, Head of Audit, auditors and administrators to conduct HR audits against the 13 elements of the SABPP HR Management Standards System.
- Auditors will go through a rigorous selection process including experience requirements, training, and competency assessments.
- A three lines of defense risk model is adopted to structure internal controls, management oversight, and independent auditing.
- The audit process involves pre-audit preparation, an on-site audit, issuing an audit report, and potential certification if standards are met. Continuous improvement is encouraged.
The sole objective of this course is to give you a ground understanding of the basics, what Auditing is all about, the objectives, benefits and concept. We plan to turn beginners in Internal Auditing to masters. Anyone with a keen interest on how to conduct an Internal Audit would benefit from this course.
This document provides guidance on the role of auditing in public sector governance. It discusses key principles of public sector governance including setting direction, instilling ethics, overseeing results, and accountability reporting. The document emphasizes that auditing is important for public sector governance as it provides objective assessments of resource management and achievement of results. An effective public sector audit activity requires independence, a formal mandate, unrestricted access, sufficient funding, competent leadership, objective staff, competent staff, stakeholder support, and adherence to professional standards.
Steps for setting up Internal Audit Function / Department in Small / Medium S...Pritesh Hirapara
How to set up internal audit department in India, Strengthen Internal Audit Department, Internal Audit Department for Small and Medium size company in India.
The internal audit charter formally defines the internal audit activity's purpose, authority, and responsibilities. It establishes the internal audit's position within the organization and must be periodically reviewed and approved by senior management and the board of directors. The charter outlines important components like the definition of internal auditing, code of ethics, scope of responsibilities, and reporting structure.
• Moving towards automation: identifying pain points and benefits to ensure a smooth transition
• Examining the costs savings of automation in areas such as headcount and administration
• Improving turnaround times and increasing efficiency by automating workflows
• Measuring the success of automating workflows
This document provides a practical guide for managing the business risk of fraud. It covers fraud risk governance, fraud risk assessment, fraud prevention, fraud detection, and fraud investigation and corrective action. Appendices provide additional reference materials, sample frameworks and policies, and checklists. The guide is intended to help organizations design and implement effective fraud risk management programs.
This document outlines the proposed structure and functions of the SABPP Audit Unit. Key points:
- The Audit Unit will have a CEO, Head of Audit, auditors and administrators to conduct HR audits against the 13 elements of the SABPP HR Management Standards System.
- Auditors will go through a rigorous selection process including experience requirements, training, and competency assessments.
- A three lines of defense risk model is adopted to structure internal controls, management oversight, and independent auditing.
- The audit process involves pre-audit preparation, an on-site audit, issuing an audit report, and potential certification if standards are met. Continuous improvement is encouraged.
The sole objective of this course is to give you a ground understanding of the basics, what Auditing is all about, the objectives, benefits and concept. We plan to turn beginners in Internal Auditing to masters. Anyone with a keen interest on how to conduct an Internal Audit would benefit from this course.
This document provides guidance on the role of auditing in public sector governance. It discusses key principles of public sector governance including setting direction, instilling ethics, overseeing results, and accountability reporting. The document emphasizes that auditing is important for public sector governance as it provides objective assessments of resource management and achievement of results. An effective public sector audit activity requires independence, a formal mandate, unrestricted access, sufficient funding, competent leadership, objective staff, competent staff, stakeholder support, and adherence to professional standards.
Steps for setting up Internal Audit Function / Department in Small / Medium S...Pritesh Hirapara
How to set up internal audit department in India, Strengthen Internal Audit Department, Internal Audit Department for Small and Medium size company in India.
The internal audit charter formally defines the internal audit activity's purpose, authority, and responsibilities. It establishes the internal audit's position within the organization and must be periodically reviewed and approved by senior management and the board of directors. The charter outlines important components like the definition of internal auditing, code of ethics, scope of responsibilities, and reporting structure.
• Moving towards automation: identifying pain points and benefits to ensure a smooth transition
• Examining the costs savings of automation in areas such as headcount and administration
• Improving turnaround times and increasing efficiency by automating workflows
• Measuring the success of automating workflows
This document provides a practical guide for managing the business risk of fraud. It covers fraud risk governance, fraud risk assessment, fraud prevention, fraud detection, and fraud investigation and corrective action. Appendices provide additional reference materials, sample frameworks and policies, and checklists. The guide is intended to help organizations design and implement effective fraud risk management programs.
The Audit and Compliance Committee Charter outlines the purpose, composition, authority, and specific duties of the Committee. The primary purpose is to oversee Starbucks' accounting, financial reporting, audit processes, and compliance with business conduct policies. The Committee is responsible for appointing and overseeing the independent auditors, reviewing financial reporting and disclosures, monitoring internal controls and compliance, and addressing accounting complaints. It must include at least three financially literate independent directors, meet at least six times per year, and report annually to shareholders.
Maco presentation demystifying compliance and survey results Simon Grima
The document discusses regulatory compliance in the financial services industry. It provides information on surveys conducted on the role and challenges of compliance. Key findings include that the majority of respondents agree that the compliance function should identify all business activities susceptible to compliance risk. It also discusses the typical responsibilities of a compliance officer, such as maintaining compliance files, providing training and advice, monitoring controls, and reporting. It emphasizes that while compliance officers play an important role, ultimate responsibility for compliance lies with senior management.
1. The document discusses management consulting, including why clients hire consultants, attributes of successful consultants, and how consultants charge for their services.
2. Common barriers to effective consulting are discussed, such as a "know-it-all" attitude or inability to understand technical language.
3. Effective evaluation of consulting projects uses a balanced scorecard approach across several dimensions: reaction, learning, application, business impact, return on investment, and intangible measures.
60 questions from each Human resource management, Finance and Marketing which would really be helpful to all the business management students either under graduates or post graduates.
Internal controls maturity and SME corporate governananceBrowne & Mohan
Good Corporate governance is a key factor in ensuring sound financial reporting and deterring misappropriations of capital and resources. Internal control and corporate governance go hand in hand. Many SME
have an ambitious goal of reaching a
reliable, continuous and integrated internal
control state. However, many SME’s are
still grappling to build a comprehensive
control process. In this paper, we present an
internal maturity framework that SME can use to benchmark and know how they can discourage frauds, improve compliance and adoption of standards.
This document provides a checklist for conducting an internal audit of a microfinance institution (MFI). The checklist covers various audit areas, including the building/premises, safe, cash records, fixed assets, office supplies, loan processes, staffing, and financial reports. It is intended to help auditors systematically evaluate whether the MFI's policies, procedures, and controls are properly documented and followed. Any "no" responses, especially for starred items denoting higher risks, should be investigated and corrective actions taken.
AUDITOR, ROLE OF AN AUDITOR, KINDS OF AUDITOR, INTERNAL AUDITORS, GOVERNMENT AUDIOTRS, INDEPENDENT AUDITORS, IMPORTANCE OF AUDITOR & PROBLEM FACED BY AN AUDITOR.
HR For Startups: Where To Start And Best Practice, Elrona D'SouzaThe HR Observer
The seminar will help the audience understand HR from a practitioner’s point of view as well as an entrepreneur or management team that is relevant to start-ups. It will help entrepreneurs who ‘don’t have time for HR’ as well as HR practitioners who have the task of promoting it to come together.
It will introduce:
- How to approach HR
- Best practices to consider
- Solutions based approach
- Strategic vs Operational Issues
- Basics to Systems, Policies, Procedures and practices
- Documentation and Recording
- Outsourcing HR
This presentation was used at HR Summit and Expo 2013 www.hrsummitexpo.com
Human Resource Management Solutions provides HRM consulting services including talent management, HRM strategy and compliance, and HRM technology and metrics. Kelly has expertise in talent planning, sourcing, development, retention, and performance management. Kelly also assists with HRM strategy development, ensuring compliance with labour legislation, and implementing HR technology and metrics systems. Kelly follows a phased approach to working with clients and can provide both strategic HRM consulting services and hands-on support for HR functions and processes.
The document discusses organizational alignment and how HR can lead the process. It begins by outlining the benefits of an aligned organization and defines alignment as having the right people working on the right things at the right time. It then details the 12 steps to achieve alignment, including defining customer needs, strengths/objectives, culture, processes, structure, support, tools, training, performance, skills, job descriptions, rewards and recruiting. Alignment provides benefits like improved accountability, productivity, relationships and more. An example is given of a company that aligned its IT department, freeing up resources and improving culture and structure.
The document provides an overview of various HR consulting services offered by Rayon HR Solutions Pvt. Ltd., including organizational diagnosis, management system trainings, soft skills trainings, HR system consultancy, management system auditing, and merger & acquisition solutions. For each service, the document outlines the objective, methodology, duration, and deliverables. The services range from assessing organizational issues and recommending improvements, to designing effective HR systems and providing training programs to support mergers and acquisitions.
The document discusses the importance of values and beliefs for internal auditors. It states that values and beliefs drive internal auditors and lead them to achieve objectives with satisfaction. Some key values and beliefs mentioned are independence, objectivity, adherence to ethical norms, and continual professional development. The document emphasizes that internal auditors should be proud of their role and view themselves as true professionals.
The depth and scope of examination, time of audit, processing methods, etc. In deciding on a specific technique, also need to take account of the objective of the audit action and the capacities limited by time or other factors.
The internal audit of a business assessed the controls around sole source contracting. The audit found that divisions need better procedures to determine if a vendor is truly the only option available. Divisions also need to improve documentation in contract files to support sole source declarations. Overall, the audit aimed to ensure sole source contracts comply with procurement regulations by having sufficient controls and documentation of vendor selection processes.
Internal auditing provides:
1) Assurance that the organization is operating effectively and efficiently through objective assessments of operations and by evaluating governance, risk management and internal controls.
2) Insight to improve processes, reduce expenses, and manage risks by analyzing data and assessing operations.
3) Objectivity and integrity as an independent function that reports functionally to the governing body and administratively to senior management.
This document provides a summary of a presentation on performance auditing. The presentation objectives are to understand the landscape of internal auditing, increase ability to work with management, analyze risks, and learn value-for-money approaches. The presentation covers the definition of internal auditing, performance audits, management functions, performance measures, and the International Standards for internal auditing. The benefits of performance audits are that they are relevant, flexible, improve organizational performance, and strengthen governance.
In corporations, we see a number of out-sourced Internal Auditors partnering with the internal team in executing audit assignements . How do we leverage and monitor this activity to deliver high quality audits ?
The document provides an introduction to internal auditing at Morris Heights Health Center. It discusses that the purpose of internal auditing is to independently evaluate an organization's activities as a service to help management meet goals, assess and monitor risks, and ensure compliance. The internal audit process involves planning, performing fieldwork and testing, documenting results in a report. It describes how internal audit can help by objectively assessing operations and sharing best practices to improve controls, processes and risk management. Finally, it notes that building trust with auditees is important by keeping commitments and through collaboration.
The document discusses the roles and responsibilities of internal auditors and audit committees. It notes that internal auditors review controls, compliance, operations, and risks. They ensure controls are working properly and in accordance with laws and regulations. The audit committee oversees the internal audit function and monitors financial reporting, controls, and compliance. It reviews internal and external audit reports and the company's internal control statement. The committee helps provide assurance to shareholders that risks are adequately managed and controls are functioning effectively.
The Audit and Compliance Committee Charter outlines the purpose, composition, authority, and specific duties of the Committee. The primary purpose is to oversee Starbucks' accounting, financial reporting, audit processes, and compliance with business conduct policies. The Committee is responsible for appointing and overseeing the independent auditors, reviewing financial reporting and disclosures, monitoring internal controls and compliance, and addressing accounting complaints. It must include at least three financially literate independent directors, meet at least six times per year, and report annually to shareholders.
Maco presentation demystifying compliance and survey results Simon Grima
The document discusses regulatory compliance in the financial services industry. It provides information on surveys conducted on the role and challenges of compliance. Key findings include that the majority of respondents agree that the compliance function should identify all business activities susceptible to compliance risk. It also discusses the typical responsibilities of a compliance officer, such as maintaining compliance files, providing training and advice, monitoring controls, and reporting. It emphasizes that while compliance officers play an important role, ultimate responsibility for compliance lies with senior management.
1. The document discusses management consulting, including why clients hire consultants, attributes of successful consultants, and how consultants charge for their services.
2. Common barriers to effective consulting are discussed, such as a "know-it-all" attitude or inability to understand technical language.
3. Effective evaluation of consulting projects uses a balanced scorecard approach across several dimensions: reaction, learning, application, business impact, return on investment, and intangible measures.
60 questions from each Human resource management, Finance and Marketing which would really be helpful to all the business management students either under graduates or post graduates.
Internal controls maturity and SME corporate governananceBrowne & Mohan
Good Corporate governance is a key factor in ensuring sound financial reporting and deterring misappropriations of capital and resources. Internal control and corporate governance go hand in hand. Many SME
have an ambitious goal of reaching a
reliable, continuous and integrated internal
control state. However, many SME’s are
still grappling to build a comprehensive
control process. In this paper, we present an
internal maturity framework that SME can use to benchmark and know how they can discourage frauds, improve compliance and adoption of standards.
This document provides a checklist for conducting an internal audit of a microfinance institution (MFI). The checklist covers various audit areas, including the building/premises, safe, cash records, fixed assets, office supplies, loan processes, staffing, and financial reports. It is intended to help auditors systematically evaluate whether the MFI's policies, procedures, and controls are properly documented and followed. Any "no" responses, especially for starred items denoting higher risks, should be investigated and corrective actions taken.
AUDITOR, ROLE OF AN AUDITOR, KINDS OF AUDITOR, INTERNAL AUDITORS, GOVERNMENT AUDIOTRS, INDEPENDENT AUDITORS, IMPORTANCE OF AUDITOR & PROBLEM FACED BY AN AUDITOR.
HR For Startups: Where To Start And Best Practice, Elrona D'SouzaThe HR Observer
The seminar will help the audience understand HR from a practitioner’s point of view as well as an entrepreneur or management team that is relevant to start-ups. It will help entrepreneurs who ‘don’t have time for HR’ as well as HR practitioners who have the task of promoting it to come together.
It will introduce:
- How to approach HR
- Best practices to consider
- Solutions based approach
- Strategic vs Operational Issues
- Basics to Systems, Policies, Procedures and practices
- Documentation and Recording
- Outsourcing HR
This presentation was used at HR Summit and Expo 2013 www.hrsummitexpo.com
Human Resource Management Solutions provides HRM consulting services including talent management, HRM strategy and compliance, and HRM technology and metrics. Kelly has expertise in talent planning, sourcing, development, retention, and performance management. Kelly also assists with HRM strategy development, ensuring compliance with labour legislation, and implementing HR technology and metrics systems. Kelly follows a phased approach to working with clients and can provide both strategic HRM consulting services and hands-on support for HR functions and processes.
The document discusses organizational alignment and how HR can lead the process. It begins by outlining the benefits of an aligned organization and defines alignment as having the right people working on the right things at the right time. It then details the 12 steps to achieve alignment, including defining customer needs, strengths/objectives, culture, processes, structure, support, tools, training, performance, skills, job descriptions, rewards and recruiting. Alignment provides benefits like improved accountability, productivity, relationships and more. An example is given of a company that aligned its IT department, freeing up resources and improving culture and structure.
The document provides an overview of various HR consulting services offered by Rayon HR Solutions Pvt. Ltd., including organizational diagnosis, management system trainings, soft skills trainings, HR system consultancy, management system auditing, and merger & acquisition solutions. For each service, the document outlines the objective, methodology, duration, and deliverables. The services range from assessing organizational issues and recommending improvements, to designing effective HR systems and providing training programs to support mergers and acquisitions.
The document discusses the importance of values and beliefs for internal auditors. It states that values and beliefs drive internal auditors and lead them to achieve objectives with satisfaction. Some key values and beliefs mentioned are independence, objectivity, adherence to ethical norms, and continual professional development. The document emphasizes that internal auditors should be proud of their role and view themselves as true professionals.
The depth and scope of examination, time of audit, processing methods, etc. In deciding on a specific technique, also need to take account of the objective of the audit action and the capacities limited by time or other factors.
The internal audit of a business assessed the controls around sole source contracting. The audit found that divisions need better procedures to determine if a vendor is truly the only option available. Divisions also need to improve documentation in contract files to support sole source declarations. Overall, the audit aimed to ensure sole source contracts comply with procurement regulations by having sufficient controls and documentation of vendor selection processes.
Internal auditing provides:
1) Assurance that the organization is operating effectively and efficiently through objective assessments of operations and by evaluating governance, risk management and internal controls.
2) Insight to improve processes, reduce expenses, and manage risks by analyzing data and assessing operations.
3) Objectivity and integrity as an independent function that reports functionally to the governing body and administratively to senior management.
This document provides a summary of a presentation on performance auditing. The presentation objectives are to understand the landscape of internal auditing, increase ability to work with management, analyze risks, and learn value-for-money approaches. The presentation covers the definition of internal auditing, performance audits, management functions, performance measures, and the International Standards for internal auditing. The benefits of performance audits are that they are relevant, flexible, improve organizational performance, and strengthen governance.
In corporations, we see a number of out-sourced Internal Auditors partnering with the internal team in executing audit assignements . How do we leverage and monitor this activity to deliver high quality audits ?
The document provides an introduction to internal auditing at Morris Heights Health Center. It discusses that the purpose of internal auditing is to independently evaluate an organization's activities as a service to help management meet goals, assess and monitor risks, and ensure compliance. The internal audit process involves planning, performing fieldwork and testing, documenting results in a report. It describes how internal audit can help by objectively assessing operations and sharing best practices to improve controls, processes and risk management. Finally, it notes that building trust with auditees is important by keeping commitments and through collaboration.
The document discusses the roles and responsibilities of internal auditors and audit committees. It notes that internal auditors review controls, compliance, operations, and risks. They ensure controls are working properly and in accordance with laws and regulations. The audit committee oversees the internal audit function and monitors financial reporting, controls, and compliance. It reviews internal and external audit reports and the company's internal control statement. The committee helps provide assurance to shareholders that risks are adequately managed and controls are functioning effectively.
Evolving role of internal auditing functionDebashis Gupta
The document discusses the evolving role of internal auditing functions. It covers positioning internal audit in an organization through strategic partnerships with business and benchmarking the internal audit function. It also discusses risk-based audit approaches and governance processes, focusing on the roles of various stakeholders. The document advocates for internal audit to act as a strategic partner by providing quality assurance on critical risks. It outlines how internal auditing has shifted from traditional transaction-based approaches to more modern risk-based approaches.
This document provides information about a student project on how internal audit can control costs. It includes:
- An introduction and title page identifying the student, college, and subject of the advanced cost accounting project.
- Pages for evaluation certificates, declarations, acknowledgements, and a table of contents of the project material.
- The start of chapter 1 on introducing internal audit, including its meaning, history, and how it relates to cost control.
The document appears to be the beginning sections of a student project outlining how internal audit functions can help control costs within an organization. It provides background information and sets up the structure for the project analysis.
This document discusses risk assessments and their importance for audit planning. It provides definitions for risk and risk assessment, and explains how risk assessments allow entities to understand potential impacts on objectives. Risk assessments employ both qualitative and quantitative methods, relate risks to time horizons and objectives, and assess inherent and residual risks. The document also discusses how internal auditors can add value through risk-based audit planning and evaluating management's risk assessments and controls. Key components of risk assessments are outlined.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Contact us *
• Email - mail@zabeelinstitute.ae
• Phone number - 600 52 4448
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Contact us *
• Email - mail@zabeelinstitute.ae
• Phone number - 600 52 4448
This document discusses the role of internal auditing in banks. It defines internal auditing as an independent, objective function that evaluates risk management, controls, and governance processes to help an organization achieve its objectives. The document outlines key differences between internal and external auditing. Internal auditing resides within an organization, evaluates a wide range of risks and controls, and reports to the audit committee, while external auditing resides outside the organization and focuses on financial risks and statutory audits. The document also describes internal audit's role in risk-based auditing and reporting, advisory services, and continuous improvement of operations.
The document discusses conducting an internal communication audit within an organization. The primary purpose of an internal communication audit is to evaluate whether the company's internal communication strategy meets its goals. It can involve collecting feedback through observations, analysis, interviews, focus groups and surveys of employees and other stakeholders. The audit helps identify areas for improvement and ensures communication efforts are effective and aligned with the company's objectives.
The document discusses internal audit practices at commercial banks in Kenya, using Kenya Commercial Bank as a case study. It begins with background on internal auditing and its importance in assessing risks, compliance, and improving operations. The research aims to evaluate the effects of internal audit practices on financial performance of commercial banks. Specifically, it will examine factors like audit planning, skills/training, resources, and methods to understand their impact on a bank's profitability, asset quality, and other performance metrics. The study employs a mixed methodology, collecting both quantitative and qualitative data from internal audit reports, financial statements, and interviews. The results will provide insights on strengthening internal audit functions at banks for better financial and risk management outcomes.
Here are the key steps to calculate EVA:
1. Calculate net operating profit after tax (NOPAT) - the profit generated from operations after accounting for taxes.
2. Determine the operating capital employed - the net assets used to generate profits, including working capital and fixed assets.
3. Calculate the weighted average cost of capital (WACC) - the minimum return expected by providers of capital.
4. Compute the capital charge by multiplying the cost of capital by the operating capital.
5. Economic value added (EVA) is calculated as NOPAT minus the capital charge. EVA represents the profit generated above the minimum return required by providers of capital.
So in summary, EVA
This document provides an overview of assurance services offered by Neusource, including variants like financial audits, HR audits, inventory audits, and more. It discusses Neusource's approach of direct expert involvement, thorough execution focused on correction and prevention, and consulting, audit, and training services. The execution process is outlined in 5 steps from understanding client needs to presenting findings. Neusource aims to add value through developing system manuals, documentation, training, and standard operating procedures.
Similar to 3a 2 Internal Audit A Bane Or Boon (20)
The document outlines best practices for internal audit departments across five key areas: roles and structure, people, process, technology, and knowledge. It provides examples of best practice features for each area and a template for departments to evaluate the evidence of these features in their own practices. The template can be used to assess areas as low, medium, or high and identify opportunities for improvement. The document aims to help internal audit departments evaluate their practices against industry standards and enhance their ability to add value through continuous improvement.
The document discusses an internal audit team developing and implementing a balanced scorecard to achieve excellence. It presents a sample balanced scorecard with objectives in four categories: learning growth, internal processes, customer perspective, and finance perspective. Metrics and targets are identified for monitoring progress over the current and next two years. The scorecard aims to improve audit practices, processes, customer satisfaction, and cost management through quantitative and qualitative tracking.
The document outlines the skills required of internal auditors, which are divided into cognitive skills, behavioral skills, and individual attributes. Cognitive skills include technical skills like following routines, analytic skills like problem identification, and appreciative skills like making complex judgments. Behavioral skills encompass personal skills, interpersonal skills, and organizational skills. Individual attributes span technical skills, analytic/design skills, problem-solving skills, judgment/synthesis skills, personal skills, interpersonal skills, and organizational skills. The document provides detailed descriptions and examples of the types of skills and attributes needed at different levels within the internal auditing field.
The document outlines the skills required of internal auditors, which are divided into cognitive skills, behavioral skills, and individual attributes. Cognitive skills include technical skills like following routines, analytic skills like problem identification, and appreciative skills like making complex judgments. Behavioral skills encompass personal skills, interpersonal skills, and organizational skills. Individual attributes span technical skills, analytic/design skills, problem-solving skills, judgment/synthesis skills, personal skills, interpersonal skills, and organizational skills. The document provides detailed descriptions and examples of the types of skills and attributes needed at different levels within the internal auditing field.
The document discusses conducting risk assessment for an internal audit department. It begins by outlining the key objectives and activities of the internal audit function. It then provides a list of 27 questions and answers to map out the internal audit processes, inherent risks, and key controls. The questions cover topics like audit planning, coordination with other departments, reporting structure, budgeting, performance metrics, theoretical risks, and controls. The overall purpose is to establish a proper risk management process for the internal audit department.
The document discusses the application of professional practices frameworks in internal audit practice. It addresses different scenarios that internal audit functions may encounter in corporate environments.
It discusses challenges that may be faced by internal audit functions that are led by senior professionals, junior auditors, or in group company structures. It also addresses internal audit in small and medium enterprises that currently lack such functions.
The document identifies top 10 standards from professional practices frameworks that require attention, such as independence and objectivity, continuing professional education, quality assurance, risk management, and ethical culture. It analyzes issues around implementing these standards in various contexts.
This document summarizes the process undertaken by the Management Audit division of EID Parry (India) Limited to achieve ISO 9002 quality certification for their internal audit processes. It provides background on the need for certification to bring standardization and process discipline. It outlines their approach of consulting other organizations, developing quality manuals based on Institute of Internal Auditors frameworks, and working with consultants. It describes achieving certification in 2001 and future plans to upgrade to ISO 9002:2000 and internal IIA standards. The certification process and requirements facilitated defining responsibilities, audit planning, training, and process reviews.
The document discusses the importance of auditor-auditee partnerships for effective audits. It states that effective audits require a proactive auditor combined with a participative auditee. The objectives of both the auditor and auditee are to achieve efficiency, effectiveness, and economy of operations through proper systems, controls, compliance, and financial reporting. Both parties must work cooperatively as an operating team for management-driven audits that add value rather than find faults.
This document discusses how an organization's internal audit division addresses quality management principles. It provides examples of actions taken to demonstrate adherence to each of the eight principles: 1) Customer focus, 2) Leadership, 3) People involvement, 4) Process approach, 5) System approach to management, 6) Continual improvement, 7) Fact-based decision making, and 8) Beneficial supplier relationships. For each principle, it outlines the division's approach and specific initiatives taken to ensure the principle is followed in its auditing practices and processes. The overall intent is to apply a quality management system to the internal audit function to improve effectiveness and efficiency.
This document provides an overview of the skills, qualities, and traits needed to be an effective auditor. It discusses technical skills like knowledge of auditing principles and techniques, human skills like tact and the ability to draw logical conclusions, and personal attributes like a strong business sense and attention to detail. It also covers qualities of character like adaptability and determination. The document outlines key behaviors for auditors such as exhibiting courage and integrity, taking a proactive approach, and maintaining communication with all levels of an organization. It discusses applying concepts from neuro-linguistic programming to improve interpersonal communication during audits. Finally, it addresses anticipating and preventing problems, as well as being effective in reaching target customers within an organization similar to how
This document provides information about technical audits conducted by the Management Audit Division of E I D Parry (India) Ltd for various companies in the Murugappa Group. The objectives of the technical audits are to recommend cost savings and quality improvements through identifying areas for increased energy efficiency and facilitating their implementation. The audit process involves creating awareness, identifying areas to audit, prioritizing and conducting pilot audits, implementing recommendations, and sharing learnings. Key focus areas of the audits are energy sources like steam, electricity, renewable energy as well as factory assets, production processes, safety and environment. Methodologies, skills required, and tools used for conducting energy and other technical audits are also outlined.
The internal audit team provides a range of audit and consulting services to help the organization meet its objectives and mitigate risks. These services include monitoring controls, compliance, cost analysis, and fraud prevention. The internal audit team acts as a governance partner by ensuring accuracy, evaluating controls, and supporting external auditors. It aims to be a resource to management by providing objective assessments and recommendations to improve operations, reduce costs, and enhance performance.
Este documento resume las principales ideas de un texto sobre la filosofía de la vida. En 3 oraciones:
El texto explora las diferentes dimensiones del ser humano como la mente superior e inferior, la conciencia subconsciente y el cuerpo físico. También analiza las influencias positivas y negativas que afectan a cada dimensión. Finalmente, presenta algunos dichos tradicionales para ilustrar conceptos como la mente, las emociones y la energía psíquica.
The document describes the features of the WEBMARS audit management software. It includes features such as engagement monitoring, task assignment, follow-up reminders, an executive summary report, integrated messaging, offline form updates, external user access, security controls, audit reporting, standards compliance, a bulletin board, and a knowledge warehouse. The software aims to help automate audit processes and improve communication and information sharing.
This document summarizes an audit process management tool called WEBMARS that aims to simplify and automate audit workflows. The tool allows auditors to plan audits, create engagement orders, manage audit reports, assign and track follow-up tasks to auditees, and analyze processes to ensure compliance with standards. Key benefits highlighted include enabling a paperless audit process, centralized data access, automated reminders, and time savings which allow auditors to focus more on process improvement.
Este documento presenta una discusión sobre la conciencia humana y su relación con diferentes niveles del ser: físico, emocional, mental e intuitivo/espiritual. Propone que la conciencia superior puede guiar a la mente inferior hacia pensamientos y acciones positivas que conduzcan al bienestar individual y colectivo.
The document outlines 5 stages of an empowerment process: (1) manager makes decisions alone, (2) manager asks for suggestions then decides, (3) manager and team discuss then decide, (4) decisions made cooperatively, (5) manager delegates decisions to team. It also discusses the importance of control systems and how empowerment depends on process effectiveness. The chairman's speech discusses goals of an ERP implementation including flexibility, brand strengthening, leaner organization, and increased sales. The chairman expresses confidence in the difficult task despite challenges like resistance to change and past emphasis on individual work over teamwork.
The document outlines good internal audit practices and working with a board audit committee. It discusses establishing vision, mission, and quality policies. It also discusses structured audit documentation and coverage, automation tools, seminars for auditees, and using computers. The document recommends the audit committee meet quarterly to review the audit plan, results, and status updates. It also suggests the internal auditor act as a liaison between the committee and business to ensure reliable information, compliance, and efficient use of resources.
1. The document discusses frameworks for evaluating IT investments and measuring their efficiency and impact on business performance. It provides models for assessing costs, benefits, and value added by IT.
2. Key factors that influence the success of IT projects are identified such as strategic alignment, clear objectives, management processes, and maturity of business judgement. Common causes of project failure include neglecting strategic considerations and overfocus on costs.
3. Metrics are suggested for measuring improvements from implementing integrated systems like ERP. Case studies demonstrate how organizations achieved efficiency gains, cost savings, and better decision making through IT.
1. “ Dynamic Internal Auditor catalyses an enterprise from good to great” Internal Audit –A Bane or a Boon “ A Passion for Perfection”
2. 1 st Module Introduction to & understanding of title 2 nd Module Taking the lead from the ‘new Internal Audit definition’ 3 rd Module How to ‘add’ value to make it a Boon?
3. 1 st Module Introduction to & understanding of title
4. Bane or a Boon ? A Management Perspective Internal Audit
5. ‘ Value’ like beauty, lies in the eyes of the beholder
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17. 2 nd Module Taking the lead from the ‘new Internal Audit definition’
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29. 3 rd Module How to ‘add’ value to make it a Boon?
30. part b usiness advisor part p sychologist part f acilitator & part t echnician ! A Skilled Internal Auditor is multifaceted
31. IA Skills / Competency : Build competencies & capabilities IA Practices : Adopt Best Practices & use successful audit methodologies IA Marketing : Effectively market IA How to ‘add’ value to make it a Boon?
32. IA Skills / Competency Build competencies & capabilities
33. Skills Required of Internal Auditors (adapted from Birkett et al., 1999A)
44. IA Marketing Effectively market Internal Audit !
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48. P D C A Cycle PLAN ACT CHECK DO 1. ORGANISE YOURSELF 2. PLAN CLEAR OBJECTIVES, PRIORITISE 3. CLEAR DIRECTION FOR EFFECTIVE EXECUTION 4. MONITOR PROGRESS CLOSELY 5. COMPARE RESULTS WITH PLAN 6. TAKE CORRECTIVE ACTION