Managing internal audit's strategic and operational risks
Presented by John Chesshire
Today’s chief audit executives and internal audit managers provide valued, independent and objective assurance and advice to stakeholders across their organisations on governance, risk management and control. But how effective are you at managing your own strategic and operational risks? Have you ever struggled to deliver your annual plan, manage a key stakeholder relationship or hold on to a valued and highly skilled team member who is being headhunted by a competitor? In short, do we practice effective risk management ourselves, each time, every time?
This master class focuses on the diverse strategic and operational risks internal audit leaders face, and demonstrates how you can begin to turn threats into opportunities, avoid perfect storms and deliver effective, insightful assurance and advisory services to your key stakeholders. This session will help you improve your own - and your team’s - delivery, performance and reputation.
Who should attend?
Chief audit executives and internal audit managers who wish to deliver professional and insightful internal audit services through effective leadership and management of the threats and opportunities that they and their teams face.
What will I learn?
Upon completion you will be able to:
- identify your internal audit activity’s key strategic and operational objectives
- conduct a professional, in-depth and effective risk assessment of your team
- gain a clear understanding of practical ways to manage these key risks, both threats and opportunities, in line with your risk appetite(s)
- understand how best to proactively monitor and manage these key risks to reduce the amount of firefighting you have to do
- recognise common and topical internal audit strategic and operational challenges and how to address them
- identify key improvement priorities for you and your department to help maximise your contribution to your organisation.
A blend of theoretical, technical, discursive and practical approaches covering:
- a brief refresher covering relevant attribute and performance standards
- developing and understanding your key strategic and operational objectives
- setting your own internal audit risk appetite
- risk management and mitigation in the internal audit function
- the value and benefits of proactive risk monitoring
- common strategic and operational internal audit challenges
- learning from near misses, firefighting and improvement priorities.
CPE competency areas covered
- Performance (Risk management)
- Performance (Engagement planning)
- Leadership and Communication (Internal audit strategic planning and management)
7 CPE points
Member: £625 + VAT
Non-member: £840 + VAT