内部审计转向风险管理风险(ppt23).pptVIP

Integrating IA and operational risk Advantages: ?? Link risk profiling / reporting with audit process ?? Not compromise objectivity ?? Easier to recruit and retain high quality staff ?? Avoid unnecessary duplication ?? Overlap between risk based audit and operational risk ?? Risk based audit - prevention rather than cure Integrating IA and operational risk Disadvantages: ?? Cultural non-acceptance ?? Customer confusion ?? Priorities for resources ?? Hands-on risk management ?? Audit independence Risk reporting and corporate governance ‘The directors should, at least annually, conduct a review at of the effectiveness of the group’s system of internal control and should report to shareholders that they have done so. The review should cover all controls, including financial, operational and compliance controls and risk management’ The Combined Code Principles of good governance and code of best practice Turnbull - Some key points ?? Prime responsibility of management ?? Profit is the reward for successful risk taking ?? Continuous monitoring essential ?? Embedding risk management and control ?? Link between risk management and control ?? Objective assurance from internal audit Internal audit opportunities post Turnbull ?? Raise the profile of Internal Audit ?? Holistic rather than cyclical approach? ?? Scope should cover all activities of the business ?? Independent opinion on risk management and control ?? Well placed to provide / co-ordinate assurance to directors ?? Backwater to mainstream ?? Failure to deliver reliable opinions ?? Extinction or minor role for internal audit ?? Substitution by operational risk or consultants ?? Failure to change approach and skills base ?? Greater board expectations ?? Complacency Threats to internal audit post Turnbull How internal audit can meet the challenge ?? Change internaI audit skills base ?? Give proactive advice - prevention is better than cure ?? Position internal a