Internal Audit and Risk Management: Effective, accountable and inclusive organisations, navigating change in a tumultuous time

In Procurement and Public Finance by publicadmin

Duration: 1 week
Dates: 7 to 11 March 2022
Tuition fees: £2,295 (exc. VAT)

About the workshop
The COVID-19 pandemic has, and continues, to provide an unprecedented period of difficult challenges to public organisations across the world in their ability to provide effective, accountable and inclusive service delivery to individuals and businesses who rely on them. Unusual and more frequent adverse weather activity, serious and damaging levels of pollution combined with increasing demand for sustainable service delivery complicates the public sector context for managers still further.

Organisations are under stress, yet keeping up to date has never been more important. They must adapt and evolve new ways of working in ways that had not previously been imagined. They must be resilient and their processes robust while at the same demonstrate flexibility and responsiveness to changing stakeholder needs. The new opportunities offer ways for Internal Audit to add insight and added value to the organisation, not simply solutions to problems. Reporting must move away from rigid timetabling to more timely and effective communications that demonstrate auditors are being efficient, economical and effective in their use of resources.

This workshop will show you how internal audit can adopt strong risk management-based planning principles, forming the basis, for a more flexible stakeholder centred approach to the application of their resources. Internal Audit will become more sustainable, and a value adding function.

What the workshop will cover
During the week you will explore:
• The role of internal audit and the role of risk management and the main elements of managing these functions successfully
• Risk management in the changing context of COVID-19
• Developing an effective risk-based register
• Risk-based internal audit planning
• Audit methodologies, including typical techniques, traditional vs the agile internal auditor
• Discussion of emerging skill requirements
• Need for auditor independence, possible internal audit structures
• Internal audit projects, performance audit and focusing on environmental audit.

How participants will benefit
The workshop is designed to allow you to:
• Discuss internal audit and risk management in the context of your organisation
• Gain understanding of how to develop into a more agile Internal Auditor
• Examine the inter-relationship between internal audit and external audit in detail (resource stretching implications may mean more pressure to place reliance on internal audit)
• Share experience of good practice from the UK and other countries
• Share your own experiences of managing and implementing risk management and internal audit post- COVID-19 and the challenges your organisation faces
• Enable you to explore how these developments may be introduced and/or implemented in your own country.