Date(s) - 06/03/2023 - 09/03/2023
8:30 am - 3:30 pm
This program has been tailored to address the challenges faced by Internal Audit Leadership in stakeholder management while assisting their organizations achieve their strategic objectives.
The challenges faced because of COVID-19 has shed further light on the phenomenal role Internal Audit plays in organizations overall governance framework and this course is focused on assisting Internal Audit Leadership in navigating these many challenges. The program has been divided into the following sections:
Managing the Audit Committee
- Internal Audit Strategy & Plan: This section focuses on key elements to consider when communicating with the Audit Committee regarding the Internal Audit strategy and related plan which will address the following topics:
- Organizational Structure
- Systems & Management Information Systems
- Organizational Culture
- Risk Management Maturity
- Compliance Maturity
- Anti-Fraud Ownership
- Audit Committee Diversity
- Capabilities of the Internal Audit team
At the end of this section we will address the practical challenges that audit functions face in developing and implementing the Internal Audit Plan enabling a more practical forward-looking approach to audit planning.
- Audit Committee (AUCOM) Reporting: It is the Audit Committee report that makes a powerful impact in the Board room. Therefore, this program will address the most effective methods in writing AUCOM reports providing key insights as it relates to the most successful methods to keep the AUCOM engaged and supportive of internal audit recommendations.
Managing the Senior Leadership Team
- The Chief Executive Officer: This section will highlight key insights on improving the communication channels with the Chief Executive Officer by having him / her always engaged and updated as to status of internal audit results within the organization. Key areas of focus will be:
- Interim reporting to the CEO
- Follow-up on implementation of Recommendations
- Obtaining CEO Buy-In and Support
- The Heads of Departments: This section will involve key initiatives to enhance better communication and awareness about internal audit with the Heads of Departments. This will include key tips to enhance communication during and after internal audit reviews.
Internal Audit Team
The Internal Audit Team: “Take care of your team and they will take care of you” Keeping your internal audit team engaged, focused and passionate about the Internal Audit profession is a particularly challenging task. In this section we focus on how to address these challenges and how to ensure that your team is always motivated to assist their clients in achieving their departmental objectives.
Toxic Traits of Internal Audit Leadership: In this section we address ten toxic traits that are detrimental to Internal Audit Leadership. We will address each trait and how we can overcome them in our teams.
Successful Attributes of Effective Internal Audit Leadership: We focus on what it takes to be an effective Internal Audit Leader. We purely address the inter-personal aspects of what it takes to succeed as an Internal Audit Leader taking into consideration the conflicting expectations that emerge from the high number of stakeholders
- Enabling internal audit leaders to explore different methods to further improve the overall effectiveness of the Internal Audit Function.
- Enhance Internal Audit Stakeholder Management
- Enhancing the quality of relationships between the Internal Audit Leadership and its different stakeholders.
- Writing more effective and strategic Audit Committee reports.
- Identifying traits of successful and toxic internal audit leaders.