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QUESTION 2: Slide #1 THE INTERNAL AUDIT DEPARTMENT Objective To provide independent, objective assurance and consulting activities designed

to add value and improve the operation of Newlands Network Corporation through systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Speakers notes The role and importance on internal auditing has grown tremendously and the expectations continue to expand. Internal audit activities have a broad mandate to cover financial, operational, information technology, legal/regulatory and strategic risks. Thus, Internal Audit Department plays an important role on this mandate. Our objective is to provide independent and objective assurance to add value and improve our companys operation through systematic, disciplined approach to evaluate and improve performance effectiveness. We focus on three main elements, namely risk management, controls and governance. As we all know, the internal audit activity is not immune to risks. It needs to take the necessary step to ensure that it is managing its own risk. Risk management is to identify and evaluate significant exposures to risk and contribute to the improvement of risk management and controls systems. Controls are any action taken by management, the board and other parties to manage risk and increase the likelihood that established objectives and goals will be achieved. To maintain effective controls is to evaluate their effectiveness and efficiency and by promoting continuous improvement. Lastly, governance is the combination of processes and structures implemented by the board to inform, direct, manage and monitor the activities of the organization toward the achievement of its objective. In addition, it is our responsibility to provide reliable and high integrity financial and operational information and the means used to identify, measure, clarify and report such information. We also ensure the effectiveness and efficiency of operations and programs, safeguarding of assets and compliance with laws, regulations, policies, procedures and contracts.

Slide #2 Our Mission: To be customer-focused support organization that provides value-added audit and consulting services to assist in the achievement of the company's goals and performance objectives.

Speakers notes Our vital role is to review the operations and programs to determine whether results are consistent with established objectives and goals whether they are being carried out as planned. Part of this, we will evaluate also and improve risk management processes, and governance processes.

Slide #3 Vision: To promote teamwork, efficiency, innovation, workforce diversity, and the development of the individual by encouraging participation, mutual support, excellence, continuing education, and challenging standards of performance.

Speakers notes We continually improve our auditing and consulting programs and strive toward technological and industry leadership. We will support the pursuit of professional advancement and the sharing of knowledge and experience with our peers. __

Slide #4 Internal Audit Team: Director/ Chief Audit Executive Internal Auditors Professional Accountants Electrical Engineer Statistician 1 6 1 1

Speakers notes Based Standard 2100 on Nature of Work that the internal audit activity must evaluate and contribute to the improvement of governance, risk management and control processes using the systematic and disciplined approach, therefore my department will be compose of group of professional accountants, and expert in electrical and statistics. As one team we commit excellence, due diligence and professional care in order to achieve our mission and vision in accordance with the International Standards for the Professional Practice of Internal Auditing. To have our value added services, allow me reiterate our commitment: Slide #5 Code of Ethics: Underlying Principles: Integrity Objectivity Confidentiality Competency

Speakers notes We are bounded by the code of ethics and its underlying principles in order for our team to keep on the right track towards achievement of our companys goal. As Internal Auditors we uphold to the following underlying principles: _______________________

Integrity to establish trust and thus provides the basis for reliance on our judgment.__ Objectivity We will exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. We will make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgments._________________ Confidentiality - We respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.____________________________ Competency We will apply the knowledge, skills, and experience needed in the performance of internal audit services. In all respect we shall comply with the International Standards for the Professional Practice of Internal Auditing.___________ Slide #6 Proficiency and Due Professional Care Proficiency - Internal auditors must possess the knowledge, skills and other competencies needed to perform their individual responsibilities. The internal audit activity collectively must possess or obtain the knowledge, skills, and other competencies needed to perform its responsibilities.

Speakers notes Proficiency requires Newlands Network Corp. internal audit staff to acquire knowledge, skills to fulfill the duties and responsibilities. Being the head of the department, I will ensure that this knowledge is up-to-date through continuing development program.

Slide #7

Due Professional Care - Internal auditors must apply the care and skill expected of a reasonably prudent and competent. Due professional care does not imply infallibility.

Speakers notes In exercising due care, we should be alert of conditions and activities where irregularities, fraud, errors, omissions, inefficiency, waste, ineffectiveness, and conflicts of interest are most likely to occur. Due professional care is neither infallibility nor extraordinary performance but reasonable care. Slide #8 INTERNAL AUDIT DEPARTMENT Newland Network Corporation Our commitment is excellent service to achieve companys objective, mission and vision

Speakers notes We value our companys effort to reach its goals, therefore we make our commitment to comply with the set standards in the International Standards for the Professional Practice of Internal Auditing. As the Chief Audit Executive, it is my responsibility to provide good leadership and motivation and to address problems and concerns arising from audit engagements. With your help and support I am confident that the internal audit department, under my mandate as the new director, would be able to provide quality professional audit work at Newlands Network Corporation.

Slide #9

Thank You

Speakers notes Before I end my presentation, allow me to say thank you to all of you and for welcoming me as your new Chief Audit Executive. I look forward for your unselfish thoughts and to support our endeavor making our company to be the best in the world. I greatly appreciate your time and the giving chance to speak to you today. Thank you very much and have a great day.

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