CFO Series: Develop a Great Internal Audit Department: How?

Overview

What can we do and how can we make our Internal Audit department better? How does Internal Audit add value? What measurables should we use? What are the key factors to get right? This class will show you how to transform Internal Audit into a profit center. Renowned organizations rotate future leaders through Internal Audit for a reason. Operational and other audits performed with the right processes, procedures, and personnel are key to success throughout the organization. The modern Internal Audit department pays for itself. If you are interested in getting the most bang-for-the-buck from Internal Audit, this seminar will deliver.

Prerequisites

None, preferably at least six (6) months of professional financial statement analysis. Prior audit experience, internal audit experience or knowledge of financial accounting principles and practices would be helpful.

Objectives

After attending this presentation, you will be able to...

• Recognize the value that an effective Internal Audit function can deliver.
• Measure the impact of Internal Audit.
• Make the business case for Internal Audit to management.

Highlights

The major topics that will be covered in this course include:

• The six factors required for Internal Audit to deliver value.
  • The most important factor.
  • Implementing Internal Audit guidelines.
• How to measure value and progress.
• What distinguishes a good department from a great department.
  • Key skills for excellent Internal Auditors.
  • The proper mindset and goals.
  • Getting and keeping the right staff.
• How to cost-justify Internal Audit.
  • Making the business case.
• Effectively communicating with the Board and other leaders.