Presentation done about a year ago, long before COSO's update IC framework was issued.

1. Petra Learning LLC
IA’s Role in Optimizing Governance
April 11, 2012
7/17/2013 Proprietary and Confidential Page 1

2. Welcome and Introduction
Today’s Agenda
I. Introduction
II. The External Environment
III. The Necessary Response
IV. Q&A Wrap-up
CPE Information (Not Available for Replays)
CPE Eligibility Requirements:
– Answer polling questions
– Complete survey at conclusion of webinar
CPE Credits: 1.0
CPE Category: Auditing
CPE Certificates: Email on or before Friday, April 20, 2012 using email
provided at registration.
7/17/2013 Proprietary and Confidential Page 2

3. II. The External Environment
The Profession
(IIA / IIASB / ISACA)
Governance Bodies
(Audit Committee, Risk
Committees, Executive Councils)
Regulators Management
Fraud Risk / Economics
(Business Environment)
7/17/2013 Proprietary and Confidential Page 3

4. III. The Necessary Response
7/17/2013 Proprietary and Confidential Page 4
D. Develop Partnerships and Alliances
C. Conduct Environmental Scanning
B. Identify Weaknesses in Governance Structure
Board and management level committees
authority, responsibilities, and communications
Understanding of fraud policy and code of
ethics
A. Identify Over / Under Managed Risks
Challenge risk infrastructure design
(what, who, how, when)
Assess effectiveness (depth and breadth)
through enterprise and functional audits
External Governance Failures
Audit and Examination Results / Post-Project
Reviews
Joint examinations Collaborative Resourcing

5. IV. Wrap-up
Closing Thoughts
1. The business environment will continue to become more complex.
A. Technological advancements
B. Expanding supply chain
C. Regulatory oversight
2. Fraud risk is at an all-time high. Every employee has to be a part of the
fraud risk management process.
3. Cultural influences have allowed situational ethics to become the norm.
Auditors must be aware of the cultural influence on decision making. The
control environment can’t be relegated to a once a year assessment.
4. IA has an opportunity to take a leadership role in their company and
deliver tremendous value but it will require a new mindset, strong
communication and leadership skills, and commitment.
7/17/2013 Proprietary and Confidential Page 5

6. Q &A
7/17/2013 Proprietary and Confidential Page 6

7. 7/17/2013 Proprietary and Confidential Page 7