Phil griffiths webinar why doesn't anyone like auditors

1. Phil Griffiths
Why Doesn’t Anyone Like
Auditors?
The webinar will commence shortly

2. Webinar Leader
Phil Griffiths
CEO
Business Risk Management Ltd
pg@businessrisk.co.uk

3. Agenda
• Welcome
• Housekeeping notes
• Session starts
• Q&A
• End of webinar

4. House Keeping
• Slides will be available on our SlideShare page, link will be
emailed to you
• Recording of the webinar will be available to download, link
will be emailed
• Take the time to complete post-webinar survey that will pop
up at the end
• You can type your questions throughout the session
• Time will be allocated in the end for the speaker to address
your questions

5. About Your Speaker
Phil Griffiths is Founder and Managing Director of Business Risk
Management Ltd. A Chartered Accountant, he has over 25 years’
experience in risk management, internal audit and fraud prevention as a
practitioner, professional adviser, facilitator and trainer. He has held top
management positions with a number of international groups, in roles
embracing finance, IT and general management.
.

6. The dilemma for auditors
• Why is it that the internal audits,
compliance reviews, quality audits and
health and safety assessments are rarely
welcomed?
• Is it because the roles are not really
understood?
• Or is it because these reviews usually
focus on looking for problems?
• Or is it because they all cause disruption?
• Or is it because there are too many of
these ‘audits’?

7. What does it mean to be
an Auditor?

8. Explaining the role
• If asked could you easily explain
the role of your function?
• How confident would you be that
the messages you gave were
consistent?
• Do you have an agreed statement
to ensure this?

9. Misconceptions
Auditors are there to
• Increase controls
• Identify weaknesses
• Identify fraud
• Find management out
• Assess the ability of staff /
management
• Point out problems
• Tell management what to do

10. Frequently asked questions
• What is Internal
Audit?
• What are Internal
Audit’s responsibilities
• Why do we need IA?
• What line
management
responsibility does the
function have?

11. Develop FAQ’s
• Are Internal Auditors
professionals?
• What right of access
does the function have?
• Can I request an audit?
• Will I receive advance
notice of an audit?
• What can I do to
facilitate the audit?

12. More FAQ’s
• How does IA decide what
to do?
• Are Audit observations a
question of judgement?
• How are the results of
the audit reported?
• Will IA offer solutions to
problems?
• How does IA differ from
other audit functions?

13. Explain the audit process to
your customers
• Power point
presentation
• Brochure
• Outline approach
to be used
• Focus on
collaboration
• Explain how
disruption will be
minimised

14. Marketing of IA
• Intranet for IA
• Appropriate information
included
– Audit plans
– Testimonials
– Achievements
– Information e.g. fraud
awareness
– Best practice ideas
– KPI performance

15. Marketing measures
• Brochure (with Chief
Exec forward)
• Presentations at
management meetings
• IA included in induction
programme
• Page on main web site
• Newsletter
• Face to face meetings
with senior management

16. Focus on the key risks
• Internal audit is
being asked to
provide much greater
assurance to senior
management than
ever before.
• The IIA believes that
the only way to
provide such
objective assurance
is by means of Risk
Based Auditing

17. Risk Based Audit
• Determine
Business
objectives
• Consider threat to
achievement
• Understand the
risk appetite
• Assess how well
such risks are
being managed

18. The need to coordinate the
assurance roles
• IIA Standard 2050
• The chief audit executive should share
information and coordinate activities
with other internal and external
providers of assurance to ensure
proper coverage and minimise
duplication of effort

19. Coordinating activities with
other assurance bodies
• Compliance
• Health and Safety
• Security
• Risk Management
• Environmental Audit
• Quality Assurance
• Insurance
• External Audit

20. The need for a collaborative
and consultative approach
• Do you get together and
share your plans?
• Do you coordinate visits to
keep disruption to a
minimum?
• Do you share your reports?
• Are your objectives
synchronised?
• Do you have consolidated
reports for the Board?

21. What else can be done?
• Allocate points of
contact with
Board members
and heads of
departments
• Meet with them
once a month or
so
• Be available

22. Course dates
Risk based auditing Next week &
Oct
Advanced audit techniques May &
Nov
Leading the IA function June &
Dec
Essentials of IA Sep
Fraud and the audit role May &
Nov

23. Questions and comments