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Internal Auditor Focus On Good Governance or Fraud 1714420627
Internal Auditor Focus On Good Governance or Fraud 1714420627
Auditor
“Do your best.
At least you tried”..
JLP
29 April 2024
“Do your best. At least you tried”..
A challenge and an opportunity
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Principles of good
governance
The principles of good governance (Corporate
Governance) of management responsibility are to:
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Ethical Values
The company must have a code of ethics, especially if
their operations and processes have an impact on
environmental quality, operations in non-democratic
countries, business with countries that exploit labor,
child labor, and ultimately if the company is listed on
the stock exchange.
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Professional code of
conduct
The company is expected to adopt a professional code
of conduct, with special emphasis on professions /
strategic functions, whose independence the company
must maintain in order to not be called into question
the business strategies.
1. General rules
2. Independence
3. Integrity and objectivity
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Internal Auditor
Methodology
1. Assess the Risk Matrix/Processes/Risks; - COSO;
2. Performs Benchmarking;
4. Identifies opportunities;
5. Identifies redundancies;
A new approach?
1. What?
2. When?
3. Where?
4. As?
5. Because?
6. Who?
7. Causes/Root Cause?
8. What impact?
9. What recommendation?
10. How effective?
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Strategic objectives
of Internal Audit:
1. Identify opportunities;
2. Carry out Benchmarking;
3. Identify good practices;
4. Identify redundant tasks;
5. Identify tasks to automate;
6. Assess processes and risks: risk matrix;
7. Identify the KPIs of the process to be
audited and evaluate the clearance
criteria;
8. Identification and measurement of the
root cause (determine what happened;
determine why it happened; determine
what to do to reduce the likelihood of it
happening again - risk mitigation);
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29/04/2024
H L Mencken,
“To a complex problem there is an answer
that is clear, simple and wrong.”
|||| Henry Louis Mencken, also known as H. L. Mencken, was an
American journalist and social critic. ||||||
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