Dear Members , Internal Auditing Professionals & Friends ,
As we begin the New Year 2019 , I would like to extend my warm greetings on the auspicious occasion of Lohri, , Maghi, Bihu, Makar Sankranti, Pongal and Poush Parbon. Every January, India comes together to celebrate these festivals with gaiety and fervor.
January is always a good time for reflections & resolutions for Internal Auditors ! Richard Chambers, in his latest blog, has suggested five resolutions for Internal Auditors reflecting the rapid and almost continuous change that the profession is experiencing. He urges internal auditors to be aware, attuned, agile, innovative, courageous, and committed. For details, please access ( https://iaonline.theiia.org/
Team IIA India is gearing up for an action packed 2019 starting with IIA India’s National Conference which is also IIA Bombay’s Annual Conference. This mega annual event is expected to bring together more than 300 participants from all over India and abroad. The conference will be graced by the Global Chairman- Mouri San, Global President & CEO – Richard Chambers & other influential speakers having vast and varied experience in the field. I look forward to meeting you at the National Conference on 21st & 22nd January 2019. I am also pleased to inform you that Conferences/events have been scheduled at each of the 6 Chapters of IIA India in the very first quarter of 2019. IIA India encourages internal auditors, accountants, non-auditors, board members as well as Board/Audit Committee members to actively participate in this “must-attend “ conferences/events 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 advantage of attending such events is that its work, learning and fun!!!
Through the tireless work of part-time volunteer leaders, Team IIA India is progressing on the four IIA India Goals of membership services, professionalism, advocacy and sustainability through the National Committees of the Council through the respective Chapters guided by the Executive Committee of the National Council ably supported by the CEO & the support Team. Last month, as the President- IIA India, I had the opportunity to participate in CAE roundtables at Bengaluru, Mumbai & at the CII event at Mumbai. IIA-India-Kolkatta Chapter had hosted a CAE roundtable in association with ACCA. Our SVP, Mr Ramarao represented IIA India at the ACIIA (Asian Confederation of the Institute of Internal Auditors). Our CEO- Mr Kochhar represented IIA India at the GELT (Global Executive Leadership Team) meeting.
The members may also take note of the news from the IIA across the Globe.
Register Early for 2019 International Conference
IIA members can save $200 by registering early for the 2019 International Conference, held in Anaheim, California, USA from 7–10 July. Themed “A Vibe All Its Own,” attendees can choose from more than 60 sessions — focused on 8 educational tracks — and earn up to 18 CPEs. Take advantage of the opportunity to network with fellow auditors from other countries.
Access the toolkit for promotional material, including a flyer and graphics.
IIA Launches Global Review of ‘Three Lines of Defense’
A widely used concept designating essential roles and duties in governance, risk management, and control, the Three Lines of Defense is rooted in financial services, but has come to serve a broader range of industries concerned with myriad issues around governance and risk management. The study focuses on ensuring this widely used model continues to meet needs in a changing organizational climate.
Read more on The IIA's review of the Three Lines of Defense.
New! Tone at the Top: Budgeting the Internal Audit Function
One hallmark of a successful internal audit function is that it is properly resourced. Chief audit executives (CAEs) must ensure that internal audit resources are “appropriate, sufficient, and effectively deployed to achieve the approved plan,” according to The IIA’s International Standards for the Professional Practice of Internal Auditing. Board and audit committee members are similarly responsible for approving the right level of resources. Yet there is no simple formula for developing an internal audit budget.
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The Role of Internal Audit in Integrated Reporting: A South African Case Study A new case study from South Africa defines the role internal auditors should play in integrated reporting, what skills and attributes they need to effectively fulfill their role, and how their role intertwines with other players within the organization.
Download the report.
Supporting Your QAIP in 2019
Did you know that there is dedicated guidance to support each Standard by addressing IA's approach, methodologies, and consideration? The IPPF Standard 1300 Series requires a CAE to develop and maintain a Quality Assurance Improvement Program (QAIP). A new practice guide covering QAIP will be released soon. Access the 1300 implementation guidance.
For Your Information
IIA–Israel: Annual Conference
IIA–India: Annual Conference
Dallas-Ft. Worth, Texas, USA
IIA–North America: General Audit Management (GAM) Conference
IIA–Austria: National Conference
IIA–Australia: SOPAC Conference
IIA–Iceland: Nordic Light 2019
IIA–Austria: National Conference
Before I end, just wanted to wish all A very happy REPUBLIC DAY to all of you!
Let us look forward to 2019 with optimism to enable all of us in the internal audit profession to expand our abilities and enhance our service to our stakeholders .
President IIA – India (18-19)