www.theiia.org the institute & the profession personalize here with presenter name
TRANSCRIPT
www.theiia.org
The Institute & the
Profession
Personalize here with presenter name.
www.theiia.org
The IIA:
• Global Professional Association
• Recognized Authority
• Acknowledged Leader
• Principal Educator
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IIA Motto
Progress through Sharing
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IIA History
• 1941: Established in New York, USA• 1944: Established 1st Affiliate, Canada• 1948: Established 2nd Affiliate, England• 2006:
-246 Affiliates
-160 Countries
-More than 120,000 members
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IIA Strategic Objectives
• Advocacy
• Globalization
• Service to members
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The IIA Provides:
• Global Affiliate Network• Membership Services• Certification• Professional Development & Training• Educational Materials• Benchmarking Network• Professional Practices Framework• IIA Research Foundation (IIARF)• IIRF Reports & Educational Products
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Professional Practices Framework (PPF)
• Code of Ethics
• Standards
• Practice Advisories (PAs)
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Internal Auditing
• Independent
• Objective
• Assurance & consulting activity
• Adds value
• Monitors & improves – Risk Management
– Internal Control
– Governance Processes
• Helps meet organizational objectives
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Internal Auditors:
• Evaluate Risk
• Confirm Information
• Analyze Operations
• Monitor Ethics
• Review Compliance
• Recommend Controls
• Assure Safeguards
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Differentiation
Internal and external auditing are two different
professions.
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OrganizationalGovernance
Four Cornerstones: • Board of Directors
• Executive Management
• Internal Auditors
• External Auditors
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Cornerstones
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Audit Committee
Primary Responsibilities:
• Financial Reporting
• Corporate Governance
• Corporate Control
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Reporting Relationships
The internal auditor should have a dual reporting relationship to the audit committee and to the CEO.
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Internal Control
Components:
• Control Environment
• Risk Assessment
• Control Activities
• Information & Communication
• Monitoring
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Risk Management
• Identify
• Assess
• Rank
• Communicate
• Anticipate
• Mitigate
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Enterprise Risk Management
• Strategic Risk
• Operational Risk
• Financial Risk
• Hazard Risk
• Compliance Risk
• Risk to Reputation
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COSO’s ERM Framework
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• Visit www.theiia.org
• Call +1-407-937-1111
• E-mail [email protected]
For moreinformation: