Organisation Challenges

Growth opportunities, competition, cost reduction, downsizing, value creation for shareholders and customers, profit center restructuring and bottom line improvements are providing new challenges for  organisations, corporate governors and Internal Audit professionals. Global, regional and industry dynamics are changing constantly, with very significant impacts on organisation risks and control systems.  How can an organisation stay ‘in control’ in such challenging times?  Internal auditing (in particular must make a value-adding contribution or it will become irrelevant.

This series of workshops provide practical guidance about improving organisation performance through better risk management and control systems.  Internal auditing contributes to corporate governance by providing assurance about risk and control.  But that alone is not enough – better organisation performance must be internal auditing’s goal.  Only when the internal auditing function is competent, can the organisation expect the best from the people in the function.

There is confusion about the connection between risk management, internal auditing and control systems.  These seminars remove that confusion by providing a strategy for ‘Risk Assurance Services’ and practical guidance in best practices in risk assurance using relevant case studies from Indian organisations.  The seminars are designed to provide practical and personal assistance to understand and apply these practices.

Who should attend?

The seminars are designed for Audit Committee Members, CEOs & CFOs, other senior managers and professionals in Internal Auditing and Risk Management.  These are the people for whom the seminar answers the questions about competent ‘risk assurance services’:

What does it mean?  Where do you start? What should you expect?

This is a unique opportunity to bring specific challenges into an interactive and stimulating workshop. Under the guidance of your expert facilitator, you will really get to grips with and solve those issues that have been restricting your development.

In Addition ...

  The seminars are supported by a series of High Tea presentations in each city on the subject:

  “Internal Auditing’s contribution to Corporate Governance”

  Course Contributors

Barry S Leithhead FCPA CIA specializes in Risk Analysis and Internal Audit and has a wealth of practical experience backed up by research and training. As a Corporate Risk Manager and Internal Audit Manager he developed simple and effective methods for Business Risk Management. As one of the developers of the IIA’s global Competency Framework for Internal Auditing, published in March 1999, Barry researched the best future practice of internal auditing over a 3-year period.

Barry was Contributing Editor of the Risk Watch segment of ‘Internal Auditor’ and a member of the IIA’s International Ethics Committee. He presents seminars on best practice Risk-Based Internal Auditing in Australasia, South East Asia and the Middle East.

Leithhead & Associates have clients in public and private sectors in Australia, Malaysia and the Middle East and networks with other specialist consultants in risk management, audit and control self-assessment.

He will be assisted by Deepjee Singhal, Chartered Accountant and Manish Pipalia, Chartered Accountant.  

Improving Organisation Performance by providing Assurance about Risk and Control

1-Day Workshop Wednesday January 16, 2002

Mumbai, India

SEMINAR OBJECTIVES:

1.       Promote Internal Auditing’s contribution to organisation performance;

2.       Understand the interaction between Performance, Risk and Control;

3.       Apply relevant case studies to demonstrate performance improvement.

4.       Realize the benefits of alliances between Risk Assurance functions.

WORKSHOP OUTLINE

The presentation style will be a mix of explanation of the subject matter by the seminar leader, intensive discussion and lively participation.

1.   PERFORMANCE IMPROVEMENT  ‘Assuring performance objectives are achieved or bettered’

CFIA’s 4X3 Matrix of Focus, Process and Outcomes (Understanding, Improvement, Assurance)

Is Internal Auditing’s Objective:

• To improve risk management and control systems and hence improve control? OR

• To improve achievement of objectives

Improving Organizational Performance is the direct purpose of Risk Assurance: Cases

2.   RISK – ‘Potential Impacts on Performance Objectives’

• Taking a ‘stance’ on Risk

• The Australia/New Zealand Risk Management Standard (AS/NZS 4360:1999)

3.   CONTROL – ‘Anything that assists the achievement of Performance Objectives ‘  

• Practical philosophies about control:

• Control Models e.g. COSO (Treadway, U.S.A)

• Control Models e.g. CoCo (CICA, Canada)

4.   INTERNAL AUDITING –  ‘Developing understanding about risk and control’

  The Competency Framework Focus and Process 4X3 Matrix:

5.  RISK ASSURANCE SERVICES

Quality Management , Risk Management, Human Resource Development, Strategic Development, Planning, Environment, Health & Safety, Compliance, Legal, Security. Practices, Literature, education, research, professional associations.

Business Risk Management (BRM)

1-Day Workshop Saturday January 19, 2002

Bangalore, India

SEMINAR OBJECTIVES:

1.       Develop sensitivity to risk exposures;

2.       Practice risk analysis techniques using relevant cases;

3.       Understand risk assessment by applying evaluation scales;

4.       Contribute to risk treatment options and actions.

WORKSHOP OUTLINE

  BRM has two primary dimensions:

1.       Opportunities – Positive impacts; aggressive management;

2.       Threats  - Negative impacts, defensive management.

  1.   BRM Processes AS/NZS 4360:1999

1.        Establish context:

• Strategic context; Organizational context; Risk management context;

• Decide the structure;

• Develop criteria;

2.        Identify risks;

3.        Analyse risks

• Determine Likelihood; Determine Consequences; Establish level of risk;

4.        Evaluate and prioritise risks;

5.        Treat risks:

• Resource allocation (management);

• Control systems improvement (management and internal auditors); 

• Identify and evaluate treatment options;

• Prepare and implement treatment plans;

6.        Monitor and Review

  2.   Case Studies in Business Risk Management

  Relevant Examples from Indian and other organisations.

  3.   Methodware's Risk Advisor ’99  software tool

• Using the tool templates to understand the process;

• Entering data from the case studies to create the risk profile;

• Reporting the Risks, Controls and Treatments.

  4.  Steps in Implementing Business Risk Management

• Gaining Senior Management’s attention and support;  

• Integrating with other business processes;

• Policy, Program and Processes;

• Selecting the starting point.

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