When do you know it’s time to set an internal audit function for your business? An internal audit group, or officer, is essential as soon as you start delegating key functions to other people, such as finance, cash disbursements and receipts, procurement of inventories, maintenance and even marketing.
Someone has to review if the work is done right and complying with policies and procedures to ensure that no cheating, fraud or abuse is happening.
The Center for Global Best Practices (CGBP) is launching this special program, titled “Best Business Practices on How to Set Up an Internal Audit System,” on May 10 and 11 at the Manila Marriott Hotel, Pasay City.
While external auditors play a big role in business, they rely only on the truthfulness of the financial statements provided to them. But external auditors get to check after the fact, or after the fraud has happened.
When you want to prevent fraud before it happens, this is where the value of an internal auditor becomes necessary and relevant. It is the internal auditor who can police your operations to check if there are irregularities that are happening.
This provides you the need to have a well- functioning and effective internal audit system that can truly help you improve your risk management and cost-control processes, including monitoring and detecting fraud, provide recommendations for more sound corporate governance practices and very effective and efficient operations.
This two-day special program is meant to help those for profit and nonprofit organizations, private and public institutions in their capacity to build, set up and maintain an internal audit department. You can start with a person or a team of two to handle this function if you are a start-up or a small and medium enterprises, or a group handling internal audit activity for bigger organizations.
This special program will feature course director and lecturer Mary Jane O. Rosales, CPA, CIA. She was the president of The Institute of Internal Auditors in the Philippines in 2008. She has helped several organizations to improve their internal audit functions and aligned those with existing ones to the current best practices in internal audit. Many of her initiatives are focused on promoting internal audit as a way to strengthen the performance of many organizations. She obtained her BSBA degree, Major in Accounting from University of the Philippines (1979). While building her career handling controllership and risk-management functions at Petron Corp., she earned mastery in accounting, internal audit and risk management.
For details and a complete list of seminars, including “Best Practices for Audit Committees,” “Best Practices in Corporate Housekeeping,” “Best Practices on How to Conduct Strategic Planning and Prepare Strategic Action Plans,” “How to Really Read Financial Statements,” “Best Practices in Business & Government Protocol” and many more, you may check CGBP’s web site at www.cgbp.org.
This training is open to the general public. Attend this special program and learn the best practices for better business performance. Pre-registration is required in this limited-seats-only event. Interested participants may avail of the early bird savings and group discounts for 3 or more participants.