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Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

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Internal audit – the future How do we demonstrate value? Presence and impact on key governance committees Focus on culture as well as control Co-ordinates work with other assurance providers Forward looking Business acumen and knowledge Contributes to the success of the organisation Trusted Advisor

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Page 1: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Internal Audit – demonstrating value to your organisation

Nick WoodsMD – Barclays Internal Audit19 November 2015

Page 2: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Increasing demands on internal auditIncreased demands from regulators – and global reachInternal audit needs to raise their gameDemands for internal audit to have a different scope, focus and approachInternal audit needs to challenge and question managementInternal audit needs to demonstrate their value

Page 3: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Internal audit – the futureHow do we demonstrate value?Presence and impact on key governance committeesFocus on culture as well as controlCo-ordinates work with other assurance providersForward looking Business acumen and knowledgeContributes to the success of the organisation

Trusted Advisor

Page 4: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Barclays Internal Audit

There is no such thing as business as normal in banking

Global department in over 20 countries600+ staff One methodology

Page 5: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Vision

Page 6: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Measuring Value• Balanced Scorecard• KPIs and regular MI

Communicating to Stakeholders• Our QAR approach• Reporting to Board Audit Committee

Page 7: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Balanced Scorecard – Company ObjectivesCustomer & Client • We are 'Go-To' for our customers and clients

Colleague• Our colleagues are fully engaged• We create a diverse and inclusive environment

where colleagues can fulfill their potential

Citizenship • We positively impact the communities in which we operate

Conduct• Our products and services are designed and

distributed to meet clients' needs• We act with integrity in everything we do

Company• We create sustainable returns above the cost of

equity• We understand and effectively manage our risks,

and continuously improve control

Page 8: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

KPIs and Regular MI

Page 9: Internal Audit – demonstrating value to your organisation Nick Woods MD – Barclays Internal Audit 19 November 2015

Questions?

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