Training Course Syllabus:

Objectives of the Presentation

The discussion will focus on methods to evaluate the adequacy of the following internal audit functions:
Policies and processes
Staffing resources and qualifications
Risk and control assessments
Annual audit plans, schedules, and budgets
Frequency of audits and audit cycles
Individual audit work programs and audit reports
Quality assurance and improvement activities
Follow-up activities
Reports submitted to the audit committee

Why Should you Attend

With the current release of the OCC´s Internal and External Audits Handbook, it has become even more critical for each institution to ensure that internal audit is truly serving as the third line of defense for risk management. That´s why institutions must be prepared for an examination of their internal audit function. Conducting a self-assessment of internal audit is an excellent way to evaluate internal audit´s effectiveness and to prepare for a regulatory examination.

The self-assessment objectives should include:
Determining the adequacy of board and management oversight of the bank´s internal audit function
Evaluating the independence and competence of those who manage and perform internal audit functions
Determining the adequacy and the reliability of work performed by the internal auditors
Determining whether the internal risk analysis processes are adequate for the institution´s size, the nature and extent of its banking activities, and its risk profile
During this important webinar, our expert, Gary Deutsch, will discuss how to approach conducting a self-assessment of the effectiveness of your institution´s internal audit function.

Seminar Summary:

How effective is your institution's internal audit function? Has internal audit ever performed a self-assessment to evaluate the function's effectiveness in support of the Board's risk culture, risk appetite and risk management system? Internal audit routinely looks to management to perform risk assessments, so what's appropriate for management should also be appropriate for internal audit.According to the OCC's Corporate and Risk Governance Handbook, internal audit is considered to be the third line of defense in an institution's risk management system. The primary message from the regulators is encapsulated in the following statement from the handbook:  (see full course description)

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