1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions in collaboration 1. Agenda with 2. Etymology The 4th AFIIA International Conference, 2017, Accra (GHANA) 3. We live in a “VUCA” world PANEL MAY 18TH 2017 Growing the Profession in Africa. The Imperatives for an Intelligent Internal Auditor 4. Imperatives for an Intelligent Auditor Prepared by ir. Tommaso Capurso 5. Conclusions President UFAI , MIA, CCSA, CIA, QA, EFARM, CRMA, ISO31000 RM Professional Internal audit expert capursotommaso@gmail.com Presented by Mounim Zaghloul CIA,CRMA,CISA,CGEIT,CRISC,COBIT, ITIL, ISO 9001, 20000, 27001, 37001 Vice-president UFAI for North Africa and Middle East zmounim@consilium.ma 1 2 AFIIA 2017 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions Africa, as other regions, lives in a “VUCA” world. Etymology for « intelligent » Volatile, Uncertain, Complex, Ambiguous Understand business context, complexity and global interactions From • latin verb intel-ligere : – Faculty of learning, reasoning, World Economic Forum, understanding The Global Risks Report 2016, – Power of discerning, sagacity 11th Edition Categories of risks: – Ability to gather, collect and choose/select informations (cf. « election ») • Variant, latin verb inter-ligere : – Ability to combine concepts Internum auditor – Aptitude in grasping truths, relationships, sapiens sapiens facts, meanings – Faculty to see globally 3 4 1
1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions Les organisations doivent s’adapter Fire, tools and Top 10 business risks in 2017: Africa & Middle East now the wheel… Remember when life was simple… “The world is going through more fundamental change than it has in hundreds, Source : Allianz Risk Barometer perhaps thousands, of years” Tom Peters & Robert Waterman (“In search of excellence”, 1982) on Business Risks 2017 5 6 AFIIA 2017 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 4.1 Understand the interactions between internal Les organisations doivent s’adapter 4.2 Understand your organization/the “business” Les organisations doivent s’adapter auditors and all interested parties (expectations) • Keep focused on the vision/mission/strategy/objectives • Uncover complexity of systems, process, structures,… • Understand them and make them understandable • KISS ? … “Cut through complexity” Intelligent Intelligent Auditor CAE Source : Loops of governance: protect the value for all interested parties 7 8 Develop your acumen for smart business modelling! 2
1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 4.4 Build trust 4.3 Understand key considerations leading the internal auditor to adapt and evolve • Trust can not be required, it must be deserved • Treat all people as you would like to be treated Top 10 Considerations for 2017 • Provide assurance first but also advisory activity (RM) 1. Cybersecurity • Consider auditees as partners all along audit missions 2. Culture/Soft Controls • An audit mission is CO-PRODUCED (auditee + auditor) 3. Integrated Assurance • ADDED VALUE IS CO-CREATED (auditee + auditor) 4. Regulatory compliance 5. Third party relationships Pinocchio 6. Anti-bribery/anti-corruption Enlightened 7. Emerging technologies decision Jiminy maker 8. Data analytics and continuous auditing Cricket Trusted 9. Performance risk Advisor 10.Strategic alignment Source: 9 KPMG Internal Audit: 10 Top 10 considerations for 2017 AFIIA 2017 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 4.5 Have a systemic/holistic understanding of IA 4.6 Be humble. Challenge your objectivity: activities. Be, first of all, an intelligent planner! assess your own IA risks Understand Return of experience the Business (R-Ex) Risk Understand Follow up reduction Customers/ Risk assessment stakeholders/ recommandations Follow-up Supervise the audit mission expectations up date results Independent Communicating opinion on Promote the IAD Audit Report Plan Execute Check = Act = Business (annual) internal universe & Opinion & results function Organize a Evaluate Lessons audit improve- controls (provisional) recommen- a mission mission progress learned plan ments risks plan dations. Settle position, corporate.gov. responsability, authority Feedback from stakeholders Align the IAD (Audit Com./Board/Senior Management) objectives/ Satisfaction survey activities Organize the Periodic input on business concerns IAD (self assessment from Management,...) Staffing (recruit, retain, ACT PLAN Field work train, manage) Planning a mission Performance evaluation CHECK DO Debriefing 11 12 3
1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 4.7 Aggregate assurance processes 4.8 Use your “emotional intelligence” (“integrated reporting”) • Understand the corporate culture • Foster cooperation within the organisation and pay attention to • Coordinate and cooperate with all links of the 3 LoD interfaces; be agile in your response time • Consolidate visibility on assurance • Act professionally (confidentiality, competences, integrity, objectivity) + use the IPPF • Discern between: – best practice (?) “segregation of duties” (old reasoning in silo’s)/fragmentation of structures & activities – strong “reliance” & relationship creation with/among actors Change the paradigm! Front office Middle office Back office (Operational (RM, compliance, (Internal Audit) Management) Quality, …) 1 st line 2 nd line 3 rd line Trusted Inspector 13 14 AFIIA 2017 advisor Controller 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 4.10 Train constantly and improve 4.9 Enhance your communication skills and style your intelligence profile Facts, observations Conceptualizer Problem solver “To the point” report Synthesizer Needs Mathematical Smart recommendations I want you to become OK, I will be an Because Expectations Imaginative Technical an intelligent auditor, intelligent auditor by you’re a Holistic Analyser as smart as me lunchtime fast Sure ! Artistic Logical HBDI worker? Herrmann Brain Identify Dominance Instrument Listen your style Planner Talker of actively to Controlled Musical communicate communica Conservative Spiritual tion Organizational Emotional Administrative Interpersonal Source: adapted from Scott Adams, 2014, DilbertCartoons Be assertive • Be creative! • Be a “knowledge worker” Internal audit = a co-produced SERVICE • Be an “ignorance officer” = a technical competence + relationships to manage 15 16 = a challenge ! 4
1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions 1. Agenda 2. Etymology 3. VUCA world 4. Imperatives 5. Conclusions Be a change agent! Succeed in the change of mental representations of interested parties/decision makers Many thanks for your kind attention! TO BE! TO BE? Take a question at random AS IS ! AS IS ! May I answer at random? Intelligent Intelligent interested auditor 17 18 AFIIA 2017 parties 5
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