Assurance mapping and co-ordination

Presented by James Paterson

The new Global Internal Audit Standards emphasises that we must do work that is co-ordinated with others (e.g., Finance, IT, Risk and compliance) and we have a consistent process for determining how much to rely on them.

Learn how to measure other assurances (in the first and second lines) and best practices for audit planning using this information.

We will also cover basic assurance mapping techniques to identify gaps and overlaps in the assurance jigsaw i.e. too much monitoring and auditing in some areas and not enough in others.

Learn through numerous practical case studies how these techniques give internal audit a voice concerning the ways other functions might improve their work and how different functions might better co-operate to give a more powerful, joined up and consistent message – so internal audit isn’t a lone voice.

Who should attend?

Heads of internal audit, internal audit managers and anyone whose involved in assurance processes.

What will I learn?

Upon completion you will be able to:

• understand how to apply the IIA standard Coordination and Reliance 2050 and the new Global Internal Audit Standards requirement
• understand the ingredients for an assurance map and assurance coordination
• learn how useful it can be to develop an assurance map for specific topic areas – finance, IT, projects etc. so the work of audit can be more focused
• understand the implications of a risk assurance approach for:
  
  - audit planning
  - audit assignments
  - how it can help improve risk and compliance processes.
  
  
• better explain how the three lines model is working in practice in your organisation
• get more from less by having more co-ordinated working with others.

Course programme

Definitions and benefits

• IIA and other definitions of assurance maps, assurance co-ordination and assurance frameworks.

How to start and pitfalls to avoid

• a framework for progressing with assurance maps
• the common pitfalls - not understanding how much “reasonable assurance” is needed and underestimating the importance of being clear about roles and accountabilities.

Practical application of assurance mapping techniques: case studies – financial controls, compliance, projects, streamlined board reporting.

Coordinated ways of working

• frameworks for improving the co-ordination between audit and assurance providers
• measuring the assurances from others.

Implications for audit planning and assignment delivery

• implications of an assurance approach for audit planning and assignments
• review of progress/plans in your organisation and insights on key areas to prioritise, keeping efforts realistic.

CPE competency areas covered

• Professionalism
• Performance (organisational governance | risk management | internal control
• Leadership and communication (audit plan and co-ordinating efforts)

7 CPE points