The seminar was attended by the delegates from
Internal Audit departments of SAARC central banks and was addressed by international as well as local speakers who shared their invaluable knowledge and experience.
Information technology acceptance in the
internal audit profession: Impact of technology features and complexity International Journal of Accounting Information Systems, 10: 214-228.
"
Internal audit practitioners globally are bearing the brunt of dramatically shifting reforms and changes in the business environment, technology and regulatory landscapes," said Mr Benani, who moderated the discussion.
Internal audit can help management perform its role, helping to make sure things are going well and improving things that aren't going well.
How involved can or should
internal audit be in these areas while maintaining the requisite focus on financial reporting and internal controls?
Chambers argues that
internal audit needs to focus still more on strategic risks and on the effectiveness of the company's risk management efforts.
* an appreciation of the importance and approach to
internal audit independence and objectivity
The supervisor of the department of
internal audit has to have a list of objectives, authorities, and responsibilities of the department.
The key speakers included Larry Hubbard, founder of Larry Hubbard and Associates; Neeraj Kumar, senior VP
Internal Audit, Emirates; Roderick Winters, GM- Financial Operations, Microsoft; Joe Ioculano, group head of
internal audit and audit committee secretary, Mubadala and Basil Hantouli, chief audit executive, Majid Al Futtaim.
At the same time, he warns, fraud isn't going away, "so
internal audit cannot avoid fraud detection and prevention, either."
Given
internal audit's enterprise-wide purview of the organization and its business processes, this area is uniquely qualified to both assist business units with their assessment of conversion's likely impact as well as help develop plans for implementing necessary changes.