PPT Internal Audit Power. Point presentation free to download. Title Internal Audit 1. Internal Audit A presentation by Ahmad Tariq Bhatti FCMA, FPA, MA Economics, BSc Dubai, United Arab Emirates 2. To Mr. Anthony F. Holbrooke, CPA 3. WHAT Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The Institute of Internal Auditors, USA 4. Sheena Easton Fabulous Rare here. WHY The main objectives of internal audit are to provide assurance on the adequacy of the whole control environment, advise at an early stage in the implementation of any system developments or amendments to processes, development and implementation of organizational policies. Internal Audit provide assurance that the organizations values are met and that laws and regulations are complied with. It ensures that financial statements and other published information are accurate and reliable and that human, financial and other resources are managed efficiently and effectively. Internal audit also forms part of the wider anti fraud and anti corruption framework of a company. TYPESFollowing are the types of audits carried out by internal auditors Compliance audit To ensure compliance with rules, regulations and laws applicable to a company. Operational audit To ensure efficient and effective conduct of operations of a company. Information system audit To ensure proper functioning of the information system throughout the life of a business. Performance audit To ensure the efficient use of resources to obtain the objectives of a company. Iso 9001 Management Review Meeting Presentation Technology' title='Iso 9001 Management Review Meeting Presentation Technology' />Environmental audits To ensure compliance with the environmental laws and regulations Special assignments relate to investigations on fraud and corruption, or any other special service with the approval of the board. INDEPENDENCE OBJECTIVITYThe internal audit activity must be free from interference by any influence in the organization, including matters of audit selection, scope, procedures, frequency, timing, or report content to permit maintenance of a necessary independent and objective mental attitude. Internal auditors should have no direct operational responsibility or authority over any of the activities audited. A presentation on practical aspects of internal audit framework. A free PowerPoint PPT presentation displayed as a Flash slide show on PowerShow. ISO+9001%3A2008+REQUIREMENTS+5.6+MANAGEMENT+REVIEW.jpg' alt='Iso 9001 Management Review Meeting Presentation Technology' title='Iso 9001 Management Review Meeting Presentation Technology' />Accordingly, they will not implement internal controls, develop procedures, install systems, prepare records, or engage in any other activity that may impair internal auditors judgment. Internal auditors must exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. Internal auditors must make a balanced assessment of all the relevant circumstances and not be unduly influenced by their own interests or by others in forming judgments. Chief Audit Executive CAE should confirm to the board, at least annually, the organizational independence of the internal audit activity. An approved internal audit charter and a competent audit committee may protect the independence of the internal audit activity. ASSURANCE CONSULTING ACTIVITYAssurance services are the services that improve the quality of information about the processes, effectiveness of controls, reliability of information, or compliance with statutory framework, efficiency and effectiveness of the operations being carried out. Consulting services means that apart from highlighting problems, internal auditors provide quality solutions to the problems. It is very much a value adding service. Remember, Internal auditors do not implement their recommendations. Implementation of solution alternatives is the sole responsibility of the management. The internal audit department should setup a mechanism to monitor objectivity in every assurance and consulting activity. Prompt actions must be taken to prevent potential loss to objectivity. The URL for UP Manilas official website is http Redirecting. ISO 9001Clause 5. Clause 5. 1,Clause 5. Clause 5. 3,Management Commitment,Customer focus,Quality Policy,clause 5,Management responsibility. SGS is the worlds leading inspection, verification, testing and certification company. We are recognized as the global benchmark for quality and integrity. Department of Education Province of Batangas. Date Title Location November 29, 2017 Division Documentation Committee for ISO 90012015. Iso 9001 Management Review Meeting Presentation Technology' title='Iso 9001 Management Review Meeting Presentation Technology' />This International Standard contains the terms and definitions that apply to all quality management and QMS standards developed by ISOTC 176, and other sector. SSH deliver world class architecture, engineering, infrastructure and construction supervision projects throughout the MENA region. Iso 9001 Management Review Meeting Presentation Technology' title='Iso 9001 Management Review Meeting Presentation Technology' />ROLE IN GOVERNANCE PROCESSRisk management is the responsibility of management. Internal audit activity assesses risks embedded in all functions across all the departments of a company and suggests controls to eliminate them. The purpose is to eliminate all risks in the system. The successful elimination of all risks ensures efficient and effective accomplishment of business plans and guarantees business success. Management has a key role to play in the implementation of controls as recommended by the internal auditors. Apart from the recommendations of the internal auditors, management is primarily responsible for the establishment of control environment. The assessment of the risks by the internal auditors provide refinement to the process of control systems. The reinforcement of controls upon the recommendation of the internal auditors help a company in improving the effectiveness of risk management, control system and governance process. AUDIT COMMITTEEAn audit committee is an arm of the board of directors, generally composed of 3 to 5 members of the board, with a chairperson selected from among the committee members. The members should be board members and outsiders i. The audit committee has an oversight responsibility for internal and external audit functions. Audit committee acts as an independent check on management and helps the external financial statements users in assuring that financial statements accurately portray the business activities of a company. And that effective internal control system is in place. All laws and regulations are complied by the company. INTERNATIONAL PROFESSIONAL PRACTICES FRAMEWORK IPPFStrongly Recommended Guidance. Mandatory Guidance. Definition of IAPosition Papers PPsCode of Ethics. Practice Advisories PAsThe standards. Practice Guides PGs 1. THE STANDARDSInternal auditors carry out their work in accordance with the given set of rules, regulations and standards. These standards are provided by the Institute of Internal Auditors, USA. The standards are known as, International Standards for the Professional Practice of Internal Auditing the standards. These standards provide guidance on assurance and consulting activities. The application of these standards during work is mandatory upon internal auditors. Following are the types of the standards Attribute Standards pertain to the company and teamstaff performing the audit work. Performance Standards are about the nature of internal auditing and provide quality criteria for the performance of the work. Implementation Standards provide guidance for each attribute or performance standard to be applicable to assurance A or consulting C activity. AUTHORITYThe staff of Internal Audit Office reports to CAE who reports to Audit Committee or the board directly. CAE have full and free access to the audit committee or the board. CAE for administrative purposes may report to the CEO but for functional purposes shall always report to audit committee or the board directly. Internal audit is fully authorized to Have complete and unrestricted access to records, personnel, and physical properties relevant to the performance of engagements. Delegate duties, allocate resources, select team, determine scope of works, and select required techniques to accomplish objectives. Obtain necessary assistance of personnel in audited units and other specialized services within or outside the organization. Internal audit staff is not authorized to Perform any operational duties for the company. ISO 9. 00. 1 2. 01. Addressing Change APB Consultant. ISO 9. 00. 1 2. 01. ISO 9. 00. 1 2. 00. However 2. 01. 5 version is emphasizing on change management more than earlier version. Any change may be it is in process, manpower, machinery, instruments, technology, raw materials, suppliers, customer requirements, legal requirements etc shall be go through a defined change management process. One of the goals of the ISO 9. The ISO 9. 00. 1 2. Once the organization has identified its context and interested parties and then identified the processes that support this linkage, addressing changes becomes an increasingly important component of continued success. Once processes are determined, an organization will need to identify the risks and opportunities associated with these processes. To achieve the benefits associated with the determination of risks and opportunities, changes may be needed. These changes can be related to any element of the process, such as inputs, resources, persons, activities, controls, measurements, outputs, etc. Change  process would includechange to be donechanges initiated byreason for changechanges reviewed byevaluation of change for consequences effects on overall performance of quality system and further actions to be taken to resolve such effectsresources required to make changeskills required to make changefinal decision for change approvalchange in documents as per change to be implemented. Changes are intended to be beneficial to the organization and need to be carried out as determined by the organization. In addition, consideration of new introduced risks and opportunities need to be taken into account. To achieve the benefits associated with changes, the organization should consider all types of changes that may need to occur. These changes may be generated, for example, in Processes. Documented information. Tooling. Equipment. Employee training. Supplier selection. Supplier managementand many others. The successful management and control of these changes has become a core requirement within the organizations QMS. These new requirements are referenced in ISO 9. The organization shall establish, implement, maintain and continually improve a quality management system. International Standard. The organization shall determine the processes needed for the quality management system and their application throughout the organization, and shall evaluate these processes and implement any changes needed to ensure that these processes achieve their intended results 5. Top management shall ensure that the responsibilities and authorities for relevant roles are assigned, communicated and understood within the organization. Top management shall assign the responsibility and authority for ensuring that the integrity of the quality management system is maintained when changes to the quality management system are planned and implemented. Planning of changes When the organization determines the need for changes to the quality management system, the changes shall be carried out in a planned and systematic manner see 4. The organization shall consider the a purpose of the changes and their potential consequences b integrity of the quality management system c availability of resources d allocation or reallocation of responsibilities and authorities. Operational planning The organization shall control planned changes and review the consequences of unintended changes, taking action to mitigate any adverse effects, as necessary. Design and development changes. The organization shall identify, review and control changes made during, or subsequent to, the design and development of products and services. The organization shall retain documented information on a design and development changes b the results of reviews c the authorization of the changes d the actions taken to prevent adverse impacts. Control of changes The organization shall review and control changes for production or service provision, to the extent necessary to ensure continuing conformity with requirements. The organization shall retain documented information describing the results of the review of changes, the persons authorizing the change, and any necessary actions arising from the review. The organization shall  plan, establish, implement and maintain an audit programmes including the frequency, methods, responsibilities, planning requirements and reporting. The management review shall be planned and carried out taking into consideration changes in the external and internal issues that are relevant to the quality management systems. The outputs of the management review shall include decisions and actions related to any need for changes to the quality management system 1. When a nonconformity occurs, including any arising from complaints, the organization shall make changes to the quality management system, if necessary. Corrective actions shall be appropriate to the effects of the nonconformities encountered. Things to consider when implementing the new requirement for Change. There are many triggers that can cause a change to the Quality Management System. Customer feedback. Customer complaint. Product failure. Employee feedback. Innovation. Determined risk. Determined opportunity. Internal audit results. Management review results. Identified nonconformity Many others. These recommendations not necessarily applicable for every type of organization. Some changes need to be carefully managed while others can be safely ignored. In order to sort through this, the organization should consider a method to prioritize. To determine the priority, the organization should consider a methodology that allows them to take into account. Consequences of the change. Likelihood of the consequence. Impact on customers. Impact on interested parties. Impact on quality objectives. Effectiveness of processes that are part of the QMSothers. Typical steps to Implement changes. Define the specifics of what is to be changed. Have a plan tasks, timeline, responsibilities, authorities, budget, resources, needed information, othersEngage other people as appropriate in the change process. Develop a communication plan appropriate people within the organization, customers, suppliers, interested parties, etc. Use a cross functional team review the plan to provide feedback related to the plan and associated risks. Train people. Measure the effectiveness. What changes may need to be made Change to a process inputs, activities, outputs, controls, etc. Communication with customers. Communication with the supply chain. Additional controls for processes. Inspection. Employee training. Implement a new process. Provide documented information. Change existing documented information. Improve employee competence. Outsource a process. Many others. Other considerations Prior to making a change, the organization should consider unintended consequences. After making a change the organization should monitor the change to determine its effectiveness and to identify any additional problems that might be created. Records of some changes may be needed as part of the Quality Management System. Here are some tips and techniques to help you plan and implement your change in an effective, efficient and timely manner Change Must Be Realistic, Achievable and Measurable. These aspects are especially relevant to managing personal change.