Title |
ARE AUDIT AND RISK REPORTS ADDING VALUE? |
Date |
3 – 4 September, 2012 |
Duration |
2 Days |
Level |
Intermediate / Advance |
Time |
9.00 am to 5.00 pm |
Venue |
Seri Pacific Hotel Kuala Lumpur
Jalan Putra 50746
Kuala Lumpur
Malaysia
Tel (603) 4042 5555
Fax (603) 4041
7236
E-mail: resv@seripacific.com
http://www.seripacifichotel.com
|
Trainer |
1. Ms. Vijayam Nadarajah
|
Who Should Attend |
Audit and Risk Committees assess the level of assurance on internal controls and risk management based on audit and risk reports. BNM assesses the effectiveness of internal audit and risk management functions by evaluating audit and risk reports. CEO and management rely on good recommendations in audit and risk reports to improve their deliverables and work. Therefore audit and risk reports are a reflection of the quality of work of internal auditors and risk managers, impactful reports provide accurate and material information on issues, constructive and workable recommendation, and value add. Poor reports do not communicate the essential findings of good audits and risk management.
The most pain staking audits and risk reviews fail for effectiveness if reports lack the punch. Audits and risk management are perceived by readers to be ineffective if the report quality is poor, presentation style and layout does not highlight important issues, factual information is incomplete or misleading, lack material content and does not meet objectives. In reporting avoid petty and trivial issues instead concentrate on substantial points. Don't miss the PURPOSE in reporting!
Unless you understand the insurance business and key risks, pertinent internal controls, critical process failures, fraud risk etc audit and risk reports will not get the attention they deserve and value add. In addition reports have to be presented in a clear and precise manner reflecting a thorough understanding of insurance issues and risks. Writing good reports is critical to send assurance messages accurately.
|
Key Learning Outcomes |
- Apply IPPF 2011 in writing internal audit reports,
- Learn the essentials of good report writing techniques,
- Learn to report on significant risks, control, process, 3Es and other failures,
- Learn techniques of "balance" reporting,
- Learn various report writing styles.
|
| Course Content |
Module 1- WRITING PROFESSIONAL REPORTS
- 1.1 Essentials in Effective Report Writing
- 1.2 International Professional Practice Framework (IPPF) for Internal
Auditors 2011 re Report Writing
- 1.3 Reporting Lines for Internal Audit and Risk/Compliance Managers
Module 2 – REPORT CONTENTS & ESSENTIAL HIGHLIGHTS
2.1 Reporting on Key Insurance Risks
- Finance
- Underwriting/ Bancassurance / Sales & Marketing
- Claims
- Reinsurance
- Investment
- Information Technology
- Others
2.2 Reporting Failures in Internal Controls, Processes and other
issues
2.3 Connecting Reporting Points to RBC Framework/Capital
Requirements
In this module several report samples will be provided to highlight essential risk points and issues.
Module 3 – AUDITS, REPORTS, PERCEPTION MANAGEMENT
3.1 Poor Audits Poor Reports, Good Audits Poor Reports, Effective
Audits Effective Reports
3.2 Managing Perception of Auditors and Risk Managers
Module 4 – REPORT LAYOUT
Report Types and Presentation Styles
- Executive Summary
- Management Reports
- Functional Reports
- Follow Up Reports
- Investigation Reports
***Samples of reports will be provided.
Module 5 – CASE STUDIES ON AUDIT AND RISK REPORTS
In this module case studies will be discussed to highlight report features.
|
Who Should Attend |
- Internal auditors at all levels,
- Compliance Officers and Managers,
- Risk Officers and Managers.
|
Fees Category |
Course Fee Per Person |
|
LOCAL |
INTERNATIONAL |
| Single Registration |
RM 1340 |
USD 600 |
| Group Registration |
20% Discount will be given to the fourth and subsequent registration |
