Dear Members , Internal Auditing Professionals & Friends ,
Serving as the 2018–19 IIA- India President has been an honor and a great learning experience for me. It was wonderful travelling “Together” on IIA India’s mission of “Emphasizing the Basics (Purpose-Service- Impact”) & Elevating the Standards of IIA India. Some of the highlights for the last 12 months are presented below as an Annual Report for reflections & learning in our journey of scaling greater heights.
IIA India is one of the largest & most promising IIA affiliates in Southeast Asia. During last year, a dedicated Membership Services cell was set up based at Delhi for better focus which resulted in significant improvement in membership services/response time. Membership brochures explaining the different value propositions were made available for different categories of members. Based on the feedback of several members & the EGM approval, the membership period has been made flexible and also the grace period for the annual renewal was extended.
Conferences & Events
Team IIA India had an action packed year starting with IIA India’s National Conference at Mumbai which brought together more than 300 participants from all over India and abroad. The conference was graced by both the Global Chairman- Mouri San, Global President & CEO – Richard Chambers & other influential speakers having vast and varied experience in the field. At the Conference, IIA India hosted a special – Book Signing Ceremony at the hands of the Global CEO- Richard Chambers for releasing the Complimentary copy of “Trusted Advisors” to each & every delegate who got an unique opportunity to meet in person the Global President & CEO. Apart from this mega event, Conferences/events were held at all Chapters of IIA India which were attended by internal auditors, accountants, non-auditors, board members as well as Board/Audit Committee members who actively participated to learn and untangle the myths, misperception over the facts and realities of the internal auditing world. Apart from learning and gaining valuable insights, the delegates experienced the joy of work, learning and fun!!!
Roundtables (CAE/Directors) were organized by IIA India & Chapters facilitating members to keep up with current and emerging topics, and best practices in the profession. The sessions were conducted by experienced professionals, practitioners or subject matter experts in areas such as cyber-security and data analytics. During the year, as the President- IIA India, I had the opportunity to participate in Volunteer hosted CAE roundtables at Bengaluru & Mumbai.
Joint Audit Conclave
Kolkata Chapter continued with its unique annual initiative of hosting the Joint Audit Conclave along with The Institute of Chartered Accountants of India (ICAI), The Institute of Cost Accountants of India (ICAI), The Institute of Company Secretaries of India (ICSI). This year the theme was “Smart Auditing! Value beyond Assurance” capturing the essence of the expectations that stakeholders have from internal audit and the evolving issues along with the challenges related to the entire auditing profession in light of recent and forthcoming regulatory changes.
IIA India through its Advocacy Committee/representatives actively engaged with other professional institutes mainly with ICAI for creating opportunities to enhance the internal audit profession in India through better collaboration between our two great organizations through a Letter of Intent addressing cooperation, aligned standards for internal audit, and other initiatives aimed at endorsing the value of such a relationship. There were also meetings held with MCA , ASSOCHAM & IOD. Along with ACCA, CAE Roundtables were held, along with BCAS- an exclusive joint interview of both the Global Chairman Mouri San & the Global President & CEO – Richard Chambers was organized. As the President- IIA India, I had the opportunity to participated at a CII event.
IIA leaders were also interviewed by the country’s largest media company during the IIA India Annual Conference. The Global President & CEO- Mr Chambers also spoke to a group of CEOs, CFOs and board members at an evening event at Mumbai followed with a prestigious Directors & CEO Roundtable discussion event at Delhi on elevating internal audit, which attracted a large contingent of media.
On Site Training
IIA India provided “on-site” customized training on Internal Auditing to the office of the NIRD and to M/S Druk Holding and Investments (DHI) – Bhutan. IIA India also continued its MOU association with CGA. Meetings were held with INGAF & SCOPE for discussing for offering training. I had the opportunity to deliver a session on Internal Audit at the Master Class for Directors hosted by IOD & also at the training event of GRMI (an MOU partner of IIA India). To execute the training opportunities, IIA India involved volunteers from the IIA India member base who are proficient in internal auditing to provide services as a consultant and/or training faculty.
The Global Training Marketplace (GTM ) courses are tied closely to the IPPF and the content of the updated CIA syllabus, the portfolio of courses emphasizes the fundamentals of internal auditing & offerings that will form a core curriculum for all internal auditors.
“Our place or your place. Our pace or your pace.” A catchy phrase that sums up the approach of IIA India’s Training goal to offer training in a variety of convenient and flexible formats to suit the needs of practitioners- whether the preference is for instructor-led courses hosted in the Chapter close to you or online, or for self-directed learning via On Demand training, the IIA stands ready to meet you where you are on your career path.
Instructor Led Training
Few years back, IIA India had launched its Global Training Marketplace (GTM) through the “Instructor-led “format. During the last year, IIA continued to offer these GTM training programs which were held at Mumbai, Chennai, Bengaluru & Delhi through our training/marketing partner Achromic Point. . IIA India involved volunteers from the IIA India member base who are proficient in internal auditing foerto provide services as “Instructors”/or training faculty.
On Demand Training
During the year, IIA India launched the “On Demand “Training for the IIA India members which is an online, self-study program providing interactive resources 24/7. Leading internal audit practitioners have compiled a comprehensive catalog of cost-effective, flexible, and globally applicable training courses to meet the ever-changing challenges you face, as well as your ongoing CPE needs.
IIA India launched the IIA’s CIA Learning System for IIA India members & Internal Auditors to help them in their journey to become Certified Internal Auditor. The Certified Internal Auditor® designation (CIA®) is the only globally recognized certification for the internal audit profession.During the year, IIA India had organized a Felicitation ceremony of the newly passed out CIAs. We are looking forward to extend this ceremony to all the Chapters.
International Internal Audit Awareness Month -May 2019
IIA India celebrated the International Internal Audit Awareness Month of May in an unique manner with senior IIA India Leaders cum Volunteers delivering Webinar sessions every week. In addition, events were held at Chapters including a “Lecture Meeting “with BCAS in Bombay Chapter.
IIA India was quite active on Twitter/ LinkedIn/Facebook/Website- Communications Platforms. The website constantly provides global and local updates on the profession, accompanied with publications of upcoming events. On the social media front, LinkedIn and Facebook continue with news feeds, with bi-weekly updates sent via email to members. Membership of our LinkedIn professional networking site continues to be well subscribed. It serves as a platform for interactive discussions, exchange of ideas, and job opportunities. Messages from the President are posted every month, and can be accessed by current and prospective members. Social media committee is disseminating knowledge bytes to the members.
Publications & Research
The IIA India Quarterly Newsletter/magazine was published every quarter as a round-up of the Institute’s events and programs. It is made available to the members on the website and circulated to members. During the year, IIA India in association with its MOU partner GRMI conducted an Internal Audit Survey of IIA members, CXOs, CEs & risk leaders on the role of IA & risk professionals of the strategic discussion making process & how investments in training, skill development technology can play a catalyst role in the effectiveness of the IA function, The Survey results were released at the IIA India Annual Conference
Inquiries/Proposals for QA from members are being evaluated by the QA Committee. Along with IIA- NL, discussions are in progress to evaluate launching of the Ambition model in India.
Global Outreach / International Representation
IIA India has been uplifting its presence globally by increasing its representation at Global Committees. Our presence is felt, and the voice of IIA India is being heard. IIA India members are present in the IIA Global Advocacy Committee, Professional certification Board, Global Guidance Committee, Academic Relations Committee, International Internal Audit Standards Board & the Committee of Research & Education Advisors. The CEO, IIA India is also part of the Global Executive Leadership Team.
SVP Mr Ramarao & myself attended the 2019 Global Council held in March at Tokyo, Japan which was a platform for IIA Affiliate leaders from around the world to contribute insights that help shape the future of our global organization and profession, network with their peers, and exchange leading practices for Affiliate growth and sustainability. This year’s event was especially meaningful as it is the last official “Global Council” before the transition to Global Assembly in 2020 under the new IIA governance structure. IIA India shall be appointing a Global Representative
Our SVP, Mr Ramarao represented IIA India at the ACIIA (Asian Confederation of the Institute of Internal Auditors) Business meeting at Malaysia & Our CEO- Mr Kochhar represented IIA India at the GELT (Global Executive Leadership Team) meeting.
IIA India also launched the facility of IIA India Library for its members .
On behalf of the Board, I would like to convey thanks & our appreciation to our
- Partners -all our partners who have supported us for the various conferences & events. We look forward to your participation and support in the year ahead
- Volunteers – for the selfless dedication of all such volunteers was truly a humbling experience. I would like to thank all the speakers, authors, compilers, conveners, course coordinators, chairmen and numerous well-wishers for their continued goodwill and support
- Support Team for the contribution made and efforts put in by the support Team of the Institute across all Chapter. I must put this on record and acknowledge that they have put in their best towards the fulfillment of the vision and agenda of our profession, working always beyond comfort and working hours, working on leaves, and working even in difficult situations. With this degree of dedication, I am sure, our profession will continue to grow its momentum of growth in future too.
- IIA Global Team for providing updates & support. IIA India Council wishes to place on record its special appreciation to Mr. Denny Beran for the guidance & mentorship provided to IIA India over the years.
The AGM of our Institute is scheduled to be held on 31st August 2019 . The Notice for the same has already been circulated. I look forward to meet you at the meeting and make it a grand success.
Mr Ramarao currently SVP shall be taking over as President – IIA India for 19-20 . My very best wishes to him & my compliments to him in advance.
Call for Volunteers
I would request all the members to actively participate in the IIA activities, in the form of volunteering for furthering the institute’s goals, participating in the events, forums and conferences, promoting memberships, embracing the Standards and taking up /advocating professional certifications to further enhance the quality of our profession. I am confident that we can do this “together”. We are the Members of the IIA which is the Global voice of the Internal Auditing Profession & we do have the best internal auditing professionals and leaders, to whom the industry looks up to.
As my term as “18-19 President- IIA India “ ends with the AGM on 31st August & I would like to say “goodbye until we meet again”.
“An ending is only the start of a journey to connect another beginning.”
Wishing you all great success in your professional endeavors.
With best wishes,
President – IIA India (18-19)