Genesis Information Hub

OVERVIEW

Organisations around the world, in nearly all industries, have experienced some degree of stress or turmoil caused by the global economic recession. In this environment,  internal auditors are playing a vital and growing role in monitoring and helping improve organisation-wide systems, processes and controls. This role likely will continue to grow in the next few years as organisations address not only financial pressures, but also regulatory pressures that governments impose in response to the financial crisis. In particular the internal audit function now plays a pivotal role to support the audit committee, risk committee and the risk unit of companies. With the increase in corporate fraud the internal audit and risk unit have to fully understand the importance of managing forensic and fraud audits and related services. Fraud is the biggest threat to good corporate governance for both public and private enterprises – profit and non-profit making organisations. This Masterclass provides practical and valuable guidance on Internal auditing and leading edge techniques in auditing. It teaches participants how to identify and prioritize the risks and assess the efficiency, effectiveness & economics of both core and non-core business processes providing practical exercises to help delegates gain confidence in the techniques presented and in their own ability to use them. One of the main reasons for the financial crisis has been a failure of corporate governance risk management. A key responsibility and duty of the board and directors is the governance, management and minimisation of risk. Building on this foundation, the board and management can then focus on the optimisation of returns, and  shareholder value creation and growth. Where risk is greater than returns, there will be dilution of value and ultimately corporate and business failure. However, the traditional assurance model had not been ineffective and has not prevented corporate misgovernance and business failure. Combined Assurance represents a viable alternative as it is holistic, proactive and integrates the respective assurance service providers. This workshop will guide you to implement a Combined Assurance Plan and Process that will protect and grow value.