Assurance mapping and co-ordination
Presented by: James Paterson
We are now required to ensure our work is coordinated with others 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 leveraging such information.
We will also cover basic assurance mapping techniques to identify gaps and overlaps in the assurance jigsaw (a common problem area revealed by EQAs). Learn through numerous practical case studies how to keep assurance mapping work practical and focussed and how to align insights to drive improved GRC and a better value adding role for IA.
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:
- reflect on the update in the IIA standards Coordination and Reliance 2050
- understand the foundations of an effective assurance map and effective assurance coordination, and what we mean by “reasonable assurance”
- recognise the key pitfalls that can arise and how to avoid them
- learn how to prioritise your current efforts and the importance of realistic scoping and being clear about the benefits that any assurance efforts will deliver
- understand the implications of a risk assurance approach for audit planning and audit assignments and integrate assurance into other processes such as risk.
Definitions and benefits
- Chartered IIA and other definitions of assurance maps, assurance coordination 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 coordination 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
- Performance (Organisational governance | Risk management | Internal control
- Leadership and communication (Audit plan and coordinating efforts)