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Wed, 17 Mar | Virtual Training

How to Add More Value in Internal Audit - 3-day course

This 3-day comprehensive virtual live training course will provide you with benchmarking information and excellent “HOW TO” skills on adding value in internal audit so the IA function focuses on critical and relevant business needs for now and the future.
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How to Add More Value in Internal Audit - 3-day course

Time & Location

17 Mar, 12:00 pm AEDT – 19 Mar, 7:30 pm AEDT
Virtual Training

About the Event

Timezone Converter:

Singapore, Singapore               Wed, 17 Mar 2021 at 9:00 am SGT  -       Fri, 19 Mar 2021 at 4:30 pm SGT

London, United Kingdom         Wed, 17 Mar 2021 at 1:00 am GMT -        Fri, 19 Mar 2021 at 8:30 am GMT

Dubai, United Arab Emirates    Wed, 17 Mar 2021 at 5:00 am GST -         Fri, 19 Mar 2021 at 12:30 noon GST

Overview:

Being proactive and valued-added internal auditors in today's heavily scrutinised and uncertain business environment means delivering on key stakeholders’ expectations.

How can you deliver stakeholders’ key objectives on governance, risk and controls as trusted advisors without sacrificing quality outcomes, budget, scope and resources (staff, time and technology tools)?

This 3-day comprehensive virtual live training course will provide you with benchmarking information and excellent “HOW TO” skills on adding value in internal audit so the IA function focuses on critical and relevant business needs for now and the future

What You’ll Learn:

· Discover ways of auditing strategic and business critical risks in 2021

· Practical approach to auditing diverse audit areas other than standard financial /operational and IT scope

· How to coordinate effective and continuous assurance

· How to apply data analytics and continuous auditing

· What is really effective and insightful audit reporting

· What types of benchmarking and quality improvement strategies to implement

WHO Should attend?

Chief Audit Executives, Internal Auditors, IT Auditors, Audit Managers and Directors, Audit Team Leaders, Risk Managers, Compliance Managers (as co-source assurance professionals)

3-day course outline

DAY 1: Adding Value as Internal Auditors

Session 1: What do we mean by Adding Value in IA?

· What is Adding Value in Internal Auditing?

· Evolution of IA from 1980’s to 2020’s

· 6 key elements of value-based auditing

· Group discussion and case studies

Session 2: Strategic Foundations & Risks in IA Plan

· IA strategic vision

· IA positioning

· IA governance

· Commitment to the IPPF Framework

Session 3: Managing Stakeholder Relationships

· Partnership model

· Advisory services

· Types of aligned services with an organization’s objectives and risks

· Frequency of stakeholder feedback

Session 4: Value-Added Audit Approach (Part 1)

· Assurance strategy

· Key agent for change

· Continuous risk assessment

· Integrated internal auditing

DAY 2: Assurance Frameworks and Continuing Assurance

Session 5: Value-Added Audit Approach (Part 2)

· Operational auditing

· Agile audit strategies

· Using data analytics and continuous auditing

Session 6: Value-Added Resourcing

· IA resourcing models

· Types or resourcing

· Performance management

Session 7: How to Leverage Technology

· Technology assurance strategy

· Automated audit management software

· Audit committee secure portal

Session 8: Continuous Improvement

- Internal audit pandemics

- COVID-19 survey findings

- How to increase value during and post-pandemic

DAY 3: Quality Reporting & Performance Effectiveness

Session 9: Coordinating Assurance

· Building on the 3 Lines of Defense (LOD)

· Ways to better coordinate and communicate audit work

· Working with other service providers

· What’s the problem?

· What are the value-added opportunities?

· 6 steps to combined assurance approach

Session 10: Assessing IA Effectiveness

· 10 core principles

· Implementing Quality Assurance and Improvement Program (QAIP)

· Performance measures and balanced scorecards

Session 11: Achieving IA High Performance

· 2020-2021 IA Benchmarking

· IA value-added report dashboard

· CQ communication skills with diverse stakeholders(written/verbal)

Session 12: Embracing Next Generation of IA

· The 3 essential objectives

· The 3 components of Next Gen IA

· What are the 12 steps of Next Gen IA?

· Practical next steps

Sessions 5, 8 to 12 will be newly written training updates for the 2021 business environment due to COVID-19 and the increasing demand of internal auditors’ skill sets by the senior executives in many organisations across the regions & continents.

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