The Governance Role of Internal Audit – Enhancing Relationships

Donderdag 11 juni, 14.10 - 14.55

Over de spreker

Jenitha John is senior vice chairman at IIA Global.

Over de sessie

An effective Internal Audit function plays a fundamental role in assisting the Board to discharge its governance and control responsibilities. The Board must, however, set the right 'tone at the top', monitor the “tune in the middle” and observe the “rhythm on the dance floor.” Support must be extended to the internal audit function who are integral in being the “eyes and ears” of the Board and Senior executives to serve this purpose. IIA Standard no. 2110 on ‘Governance’ states that “An effective internal audit function provides assurance that there are appropriate corporate governance processes and internal control procedures in place. Various Codes of Corporate Governance issued have also echoed the fact that internal audit function is an integral part of the corporate governance system of any organization.

It is imperative for internal audit to adapt and transform to fortify its position as a value preservation and value-adding partner to its organization.

Key takeaways: Enhance relationships through sharing practical ideas for Internal Audit to:

• Effectively communicate risk and control information to appropriate stakeholders
• Promote appropriate ethics and values within the organization
• Ensure effective organizational performance management and accountability
• Effectively coordinate the activities of the three lines to enhance governance.”