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As auditors finalize audit plans for 2021 we confront several challenges. Many of them, (i.e., remote auditing, budgets, communication), already exist but are now a little bit harder to manager. However, two of the most pressing challenges are: changing management’s ideas about the role of audit and ensuring that our audit team really understands principles of risk management. Please join us to discover simple and practical ways to address both of these areas. We will help build next years plan off of best practices and introduce a few new ideas that will position your team for success in 2021. We will be including specific risks that auditors often forget when planning audit coverage but, if included, will elevate your team’s success. Sharing best practices will certainly provide some alternative practices that each audit team could consider in efforts to add value and remain relevant to their organizations.
Why should you attend?
COVID-19 has resulted in business redesign and unfortunately Internal Audit groups everywhere are facing budget cuts, remote auditing, virtual communication and more impacts to their work. Because they are a cost center and not a revenue generator there is real risk that staffs can be reduced and work narrowly focused on low-level risk items. It is a difficult time and internal audit must be prepared to demonstrate their value to the organization and adapt to new challenges facing them.
Description of the topic:
This webinar will address the four key challenges facing Internal Audit today and provide answers to each one. With real answers to each challenge, the audit team can leverage good work into contributions that help the business manage the landscape of the pandemic through proactive and creative ways to contribute to the business. Participants will discover how to address budget cut back, learn techniques of virtual communications, leverage emerging risks into new audit plans and how to engage with the Audit Committee to ensure the teams contribution is valued.
Areas Covered in the Session:
We will be covering the following interesting aspects of auditing in a post pandemic world:
· Examples of successful consulting activity
· The best way to provide new insights to management
· The importance of building relationships
· Why it is valuable to “Do Something Different”
· The benefit of sharing new audit tools with the business
· Volunteering to lead business projects
And much more!
Who will benefit:
Chief Audit Executives
Chief Risk Officers
Members of the Board of Directors
Chief Executive Officers
Daniel Clark has over 30 years’ experience in the financial services industry. Beginning his career in 1982 and spending over 25 years within Citibank, he was exposed to national and international banking, primarily focusing on consumer, small business and retirement services. During his last 12 years at Citibank, he was an active leader in the audit and risk review department. His audit and risk career at Citibank culminated when he resided in Miami and Mexico City and was responsible for auditing all consumer banking activities in Latin America, including the largest bank in Mexico, Banamex. After leaving Citibank, Mr. Clark has held senior audit positions in First Union (Director of Consumer Bank Auditing), USAA (Chief Auditor), Sterling Financial Services (Chief Auditor), and GE Capital (Director of Professional Practices, Director of Americas Audit and Interim Chief Auditor).
Mr. Clark is active in the IIA and the RMA and is a published contributor to industry practice. Presently, he holds two certifications, is a strong advocate of progressive risk based audit processes and is creator of thecrabbyauditor.com.