Event Details
The Covid-19 crisis drove many companies to make significant and drastic decisions and/or changes in their operating models to adapt to the highly disruptive and rapidly evolving times. Several articles indicated that the internal audit function was hit by these changes from budget cuts, decrease in staffing/outsourcing services, reduced or suspended assurance engagements to more advisory projects services, or for some, handling concurrent operating functions. And no doubt, the new processes created and business models implemented under the "new normal" resulted in new and significant risks. So, with the unique demands and expectations from the company, how can the internal audit function leverage collaboration with other assurance providers in the organization and/or on an integrated assurance map to bring new value to the table and facilitate effective and efficient use of its limited resources? How can the internal audit function contribute & help the organization while staying independent when performing advisory services, or sometimes, "first line" functions?
Forum objective/s:
Understanding the important role of internal audit in developing and advocating for an integrated assurance, by:
1. revisiting the fundamental elements to an effective integrated assurance;
2. identifying and understanding the benefits and challenges of an integrated assurance especially in the covid-19 era;
3. identifying the tools, methodologies, and/or technologies that can be leveraged for an effective & efficient integrated assurance.
*subject to change