The Institute of internal Auditors Philippines, Inc.
The Institute of Internal Auditors (IIA) Philippines is a professional organization dedicated to the advancement of the internal audit profession in the country. Our members, who work in internal auditing, risk management, governance, internal control, information technology audit, education and security, came from various industry or sectors in the Philippines and belong to a global network of almost 200,000+ professionals from more than 170 countries and territories sharing a common vision of a global profession of internal auditing.
The Institute of Internal Auditors Philippines Inc. (IIAP) was registered with SEC in 1982 and formerly known as The Institute of Internal Auditors, Inc. – Manila Chapter. It was founded on August 14, 1948 by Mr. Santiago F. Dela Cruz Sr. along with a small group of accountants actively engaged in the profession. Mr. Dela Cruz, who is considered to be the moving spirit of the association, is the same man who, two years earlier than IIAP, co-established the Philippine College of Commerce and Business Administration (PCCBA) which we now know as the University of the East.
The IIAP despite some struggles during its formative years was able to attain full-fledged stature as a professional association upon earning its “Institute” status from The Institute of Internal Auditors (IIA Global) in 1990. At the time, IIAP is 1 of the 6 (six) chapters in the Pacific Region (others were in Bombay, Tokyo, Sydney, Melbourne and Ceylon). On its 75th Anniversary Celebration and Global Business Meeting last 16-17 July 2016 at New York Hilton Midtown, the IIAP was acknowledged as the 3rd Chapter organized by the IIA Global since the latter’s founding in 1941 still then headquartered in New York City, USA
As companies adjust to the "new normal" of remote operations during the COVID 19 pandemic maintaining focus on the effective operation of internal controls is critical. The shift to remote operations will likely require adjustments to internal control processes and timely identification of those adjustments will be key to maintaining an effective internal control environment.
Control self-assessment (CSA) is a technique that allows managers and work teams directly involved in business units, functions or processes to participate in assessing the organization's risk management and control processes. In its various formats, CSA can cover objectives, risks, controls and processes. Internal auditors can utilize CSA programs for gathering relevant information about risks and controls; for focusing audit work on high risk, unusual areas; and to forge greater collaboration with operating managers and work teams. Managers can utilize CSA programs to clarify business objectives and to identify and deal with the risks to achieving those objectives.
What You Will Learn
I. Overview & Background
The "self" factor in Controls Assessment
Origin & Definition
The Three Lines of Defense and Responsibilities for Risks
How CSA has been adding value so far to adopters?
Controls Assessment Paradigm Shift
The outlook for CSA
Traditional Audit vs. COSO/CSA Audit Approach
II. CSA Concepts
The COSO Framework
The CSA Formats
o Management-produced analysis
o Facilitated workshops
The design of a conventional internal audit activity
Root-case analysis/ Fishbone Diagram (Cause and Effect) methodology
The CSA Process
a. Planning & Preliminary Work
d. Action Plan Development and Monitoring
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