With the world changing around us and the impact to organizational processes and business models the word innovation has become more frequently mentioned. These changes provide challenges for internal auditors to do things differently so that IA will add greater value and remain relevant as part of the internal control/governance structure. Considering innovation will enable auditors to better meet primary stakeholder expectations through process enhancements that focus on organizational changes, expectations, strategic plans/initiatives and efficiency/ effectiveness. Questions that may arise about innovation from discussions with your audit team, audit committee, management, and peers will be covered in the session. Finally, strategic initiatives for most organizations are becoming more critical for sustainability of the business. The need for increased emphasis on audits/consulting engagements for strategic initiatives will be reviewed/discussed. Attend this session to learn why innovation and strategic auditing is important to internal auditors that want to stay relevant.
In this training, we will discuss the following important issues:
Learning Objectives what innovation is and how it relates to internal audit
You will leave the session able to:
Who Should Attend
Prerequisites
None - all auditors, managers and audit leadership will benefit from this seminar.
Level: All Levels |
Field: Auditing |
CPE Credits: 8 (400 minutes) - 1 Day |
Delivery Method: Live - Group |
Course Outline
Definition of innovation & how it relates to internal audit (IA)
Why we internal audit needs to innovate
Barriers to innovation
Examples of innovation that IA can use to help the organization to improve governance, risk & controls
Ideas/creativity to enhance IA innovation
Increased focus, productivity & added value
Methods to generate ideas for continuous improvement
Emerging issues & innovation
Challenges that IA could experience
Important staff qualities to facilitate innovation
Critical thinking for auditors (high-level overview)
Consulting/advisory services
Strategic thinking for auditors
What role can IA serve in strategic initiatives
Definition & differences between of strategic vs. tactical and objectives vs. goals
Importance & challenges in auditing strategic initiatives
Annual risk assessment process & strategic initiatives
Auditing strategic initiatives
Sample audit approach/program for strategic audits
Lessons learned & leading practices
Tips & reference materials
Exercises will be used to reinforce the learning process. Examples of exercises are as follows:
Contact Phil Flora for additional information or a proposal: phil@flobizllc.com