The document summarizes the responsibilities and functions of the Office of Inspector General's Internal Audit division. It is authorized by Florida statute to provide independent and objective assurance and consulting services to improve operations. Internal audits must comply with International Standards for the Professional Practice of Internal Auditing. The division conducts risk-based audits, reviews, and consulting engagements to evaluate risk management, controls, and governance processes and provides recommendations for improvement.
The most comprehensive definition of internal audit is given by the IIA, USA. It is,
"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."
The purpose of the presentation is to provide clarification for a better understanding of what internal audit definition, objectives, functions, stages and reporting are all about? What difference does it make in the presence of an external audit? How different is its scope from that of the external audit? How internal audit standards contribute to better performance of internal audit work and its reporting to the Board or Audit Committee?
UBL is the leading auditing firm in Dubai. We become experts in your business with practices across the UAE-helping you take control of finances across all aspects of your business. While we are qualified auditors, accountants and business consultants, our innovative, flexible and business approach is what makes us different.
The most comprehensive definition of internal audit is given by the IIA, USA. It is,
"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."
The purpose of the presentation is to provide clarification for a better understanding of what internal audit definition, objectives, functions, stages and reporting are all about? What difference does it make in the presence of an external audit? How different is its scope from that of the external audit? How internal audit standards contribute to better performance of internal audit work and its reporting to the Board or Audit Committee?
UBL is the leading auditing firm in Dubai. We become experts in your business with practices across the UAE-helping you take control of finances across all aspects of your business. While we are qualified auditors, accountants and business consultants, our innovative, flexible and business approach is what makes us different.
An internal audit is designed to review what a company is doing in order to identify potential threats to the organization's financial health and profitability and to make suggestions for mitigating the risk associated with those threats.
CIA part 1 essentials of internal auditingariundalai1
The Institute of Internal Auditors (The IIA) uses the International Professional Practices Framework (IPPF) to organize its authoritative guidance in a manner that is readily accessible. The IPPF, sometimes called the “Red Book,” is intended to help practitioners and stakeholders throughout the world respond to the expanding market for high-quality internal auditing.
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.
An internal audit is designed to review what a company is doing in order to identify potential threats to the organization's financial health and profitability and to make suggestions for mitigating the risk associated with those threats.
CIA part 1 essentials of internal auditingariundalai1
The Institute of Internal Auditors (The IIA) uses the International Professional Practices Framework (IPPF) to organize its authoritative guidance in a manner that is readily accessible. The IPPF, sometimes called the “Red Book,” is intended to help practitioners and stakeholders throughout the world respond to the expanding market for high-quality internal auditing.
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.
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
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Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
2. OIG Internal Audit
Authorized in Section 20.055, Florida Statutes
Section 20.055, F.S. authorizes the
Inspector General (IG) and the reporting
auditing functions.
4. OIG Internal Audit
Purpose of Internal Auditing
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.
5. OIG Internal Audit
Standards
Audits must be conducted
in accordance with the
current International
Standards for the
Professional Practice of
Internal Auditing as
published by the Institute
of Internal Auditors.
Section 20.055(5)(a), F.S.
6. OIG Internal Audit
Standards
The International Professional Practices Framework (IPPF) is the
conceptual framework that organizes authoritative guidance. IPPF
guidance includes:
Mandatory Guidance
Definition of Internal Auditing
Code of Ethics
Standards
Strongly Recommended Guidance
Position Papers
Practice Advisories
Practice Guides
7. OIG Internal Audit
Code of Ethics
Internal auditors are expected to apply and
uphold the following principles:
Integrity
Objectivity
Confidentiality
Competency
8. OIG Internal Audit
Independence and Objectivity
The internal audit activity must be
independent, and internal auditors
must be objective in performing their
work.
The internal audit activity must be
free from interference in determining
the scope of internal auditing,
performing work, and communicating
results.
Internal auditors must have an
impartial, unbiased attitude and
avoid any conflict of interest.
9. OIG Internal Audit
Access to Information
Auditors examine and need access to a lot
of information to do their jobs.
Section 20.055 (5)(c), F.S. states, “The
inspector general and the staff shall have
access to any records, data, and other
information of the state agency he or she
deems necessary to carry out his or her
duties. The inspector general is also
authorized to request such information or
assistance as may be necessary from the
state agency or from any federal, state, or
local government entity.”
10. OIG Internal Audit
Risk Assessment
What is risk?
The possibility of an event occurring that will have an
impact on the achievement of objectives. Risk is
measured in terms of impact and likelihood.
How do we manage risk?
Control Processes are the policies, procedures, and
activities that are part of a control framework, designed
to ensure that risks are contained within the risk
tolerances established by the risk management
process.
11. OIG Internal Audit
Controls
What are controls?
There are many definitions. In essence a control is any
action taken by management and/or other parties or systems
to manage and mitigate the negative impact of risk and
increase the likelihood that established objectives and goals
will be achieved.
The control environment includes the following elements:
Integrity and ethical values.
Management's philosophy and operating style.
Organizational structure.
Assignment of authority and responsibility.
Human resource policies and practices.
Competence of personnel.
12. OIG Internal Audit
Controls (Cont.)
Examples of typical controls include:
Policies and procedures
Management reviews and approvals
Physical safeguards
Authorization of transactions
Segregation of duties (organizational structure)
IT Security (e.g. passwords, access logs, etc.)
Information processing / application controls
13. OIG Internal Audit
Risk Assessment and Audit Planning
The Inspector General shall develop long-term and annual Audit
Plans based on the findings of periodic risk assessments. The Plan
shall show the individual Audits to be conducted during each year and
related resources to be devoted to the respective Audits.
Section 20.055(5)(i), F.S.
14. OIG Internal Audit
Risk Assessment and Audit Planning (Cont.)
The internal audit activity's plan
of engagements must be based
on a documented risk
assessment, undertaken at least
annually.
The Audit Director should
consider accepting proposed
consulting engagements based
on the engagement's potential to
improve management of risks,
add value, and improve the
organization's operations.
15. OIG Internal Audit
Assurance Engagements
Assurance services involve the internal auditor’s objective
assessment of evidence to provide an independent opinion or
conclusions regarding an entity, operation, function, process,
system, or other subject matter. The nature and scope of the
assurance engagement are determined by the internal auditor.
There are generally three parties involved in assurance
services:
• The person or group directly involved with the entity, operation,
function, process, system, or other subject matter (e.g. process
owner),
• The person or group making the assessment (e.g. the internal
auditor), and
• The person or group using the assessment (e.g. the user).
16. OIG Internal Audit
Review Engagements
Internal Audit also performs reviews and
special projects of certain processes and
functions that do not require a comprehensive
audit.
Management reviews assess effectiveness
and responsiveness, provide assistance in
identifying opportunities for improvement, and
provide assistance in developing and
implementing corrective actions necessary to
enhance proficiency.
17. OIG Internal Audit
Consulting Engagements
Consulting services are advisory in nature, and are
generally performed at the specific request of an
engagement client. The nature and scope of the
consulting engagement are subject to agreement with the
engagement client. Consulting services generally involve
two parties:
• The person or group offering the advice (e.g. the internal
auditor), and
• The person or group seeking and receiving the advice (e.g.
the engagement client).
When performing consulting services the internal auditor
should maintain objectivity and not assume management
responsibility.
18. OIG Internal Audit
Audit Process
Audit Cycles:
Engagement Planning
Fieldwork
Report Writing
Follow Up
*Review and consulting
engagement cycle elements are
less involved than an audit.
19. OIG Internal Audit
Audit Process (Continued)
Planning
• Background Review (authoritative references, contractual requirements,
budgetary information, policy and procedure review, process mapping, and risk
& control assessment)
• Entrance Conference
• Work Program Development
Fieldwork
• Work Program Execution
• Testing of controls
Report Writing
• Draft and Approval
• Exit Conference
• Management Response (20 working days)
• Final Report Issuance w/ Management Response
Follow Up (6 month intervals)
• Corrective Action Status Updates
• Verification
• Status Report Issued
20. OIG Internal Audit
External Audit Entities
Who audits the auditor?
The Auditor General (AG):
• Reviews a sample of each state agency’s
internal audit reports to determine compliance
with current standards once every 3 years.
21. OIG Internal Audit
External Audit Liaison Role
The Inspector General shall monitor the implementation
of the state agency's response to any report on the
state agency issued by the Auditor General or by the
Office of Program Policy Analysis and Government
Accountability. No later than 6 months after the Auditor
General or the Office of Program Policy Analysis and
Government Accountability publishes a report on the
state agency, the Inspector General shall provide a
written response to the agency head on the status of
corrective actions taken.
Section 20.055(5)(h), F.S.
22. OIG Internal Audit
Annual Report
Not later than September 30 of
each year, the OIG submits an
annual report to the State
Surgeon General summarizing
the activities of the office during
the preceding fiscal year.
Included in this report is a
summarization of the internal
audit activities of the OIG.
Section 20.055(7), F.S.
23. Contact Information
Office of Inspector General
4052 Bald Cypress Way, Bin #A03
Tallahassee, Florida 32399-1704
Call the OIG at (850) 245-4141
FAX (850) 413-8985
“Michael_Bennett@doh.state.fl.us”