Our experience in developing Internal Audit talent revealed that auditors were reliant on training courses that provided general knowledge. The audit leadership expected the acquired knowledge to be acted upon and translated into results that matter. What we found was there was little or no improvements in the results and hence absence of tangible and measurable ROI.

One of the root causes of the above was that the training courses were somewhat theoretical, lacked practical guidance and often not relevant to the specific needs of the auditor and his operating environment.

We stepped in to change the above scenario by delivering learning (not training) workshops that will deliver outcomes in five dimensions (Business (IA deliverables) – Organisation (IAD) – Professional – Personal -Team). Over the years we designed the following customised learning programs for Internal Auditors:

IA governance (std 1000,1100,1300 + code of ethics)

1. Quality Assurance & Improvement Program– Planning & Preparation for QAR/SAIV
2. Adopting/ adapting IPPF/COSO
3. Setting up Audit Committee & IA charters /IA strategy, vision, code

IA Staff (std 1200)

1. Audit competency framework & closing Proficiency & Due professional care gaps.
2. CIA examinations – Preparation and success with examinations in all 3 parts.
3. CPD program for IA knowledge & skills enhancement.

IA Management (std 2000,2100,2450,2600)

1. Risk Based auditing 
2. IA Policies & procedures – Manual
3. Assurance Mapping & collaboration with LOD 2
4. Rating audit reports / overall opinions

IA processes (std 2200,2300,2400,2500)

1. Risk based auditing
2. Business Process Analysis
3. Data analytics – Basics and Advanced
4. Internal Audit processes, standards & tools
5. Root cause analysis
6. Audit report writing
7. Fraud detection and Prevention
8. Managing Fraud – detecting, reporting & preventing
9. IT General controls & auditing
10. ITRMA – IT risk management Assessment.

Interpersonal skills (Abilities needed to interact with others effectively)

1. PR and Interpersonal skills
2. Handling difficult Auditees & sensitive situations
3. Managing & Leading teams
4. Developing high performance (value adding) culture

IA co-sourcing & consulting services

1. Implementing Quality Improvement (Innovation & Transformation)
2. Co-Source IA services – coaching based model for co-designed auditor and IA function development program
3. Developing consulting capabilities in IA function
4. Auditing culture
5. Auditing ERM

We do come across organisations with established risk management teams, frameworks and practices that over time losses its effectiveness and purpose. Fatigue sets in and lost relevance with lack of ownership and commitment becomes new challenges. Lost meaning in the ownership and real mitigating actions by management.

We do hear from Board members and risk management leaders about intentions to reenergise risk management, extract ROI, innovate, derive value and transform while managing risk. Some has said it correctly that risk management is about culture which seems a longer-term effort.

Risk Management Assurance provides Auditors and risk professionals with an understanding of the risk management assessment fundamentals, techniques and processes which can be used by organizations to improve their risk and control management frameworks. We go beyond risk management – creating risk management cultures. Here are 5 Learning workshops and Services in the risk management space:

Risk management learning workshops

1. Risk Management (ISO 31000) fundamentals
2. Building risk management culture and shared leadership
3. Quality Assurance & Improvement Program for risk management.

Risk management co-sourcing & consulting services

1. Establishing Risk management (ISO 31000)
2. Reviewing risk management culture & enhancements to revitalise risk management.

Quality has become a major consideration for both customers and companies. Customers won’t put up with defective products & services. Gb became a certified instructor in Quality Education System (QES) in 1992 and rolled out QES programs in his companies that saw a shortest payback with significant ROI in the QES investment.
Based on the experience, we put together 2 quality improvement programs as follows:

1. Integrated Quality Improvement Program for Internal Audit (with QAIP)
2. Quality Improvement Program for general business operations.

Project managers face several challenges that are not common in text books. We gathered the following challenges during our interactions:

1. Cost overrun – Project cost exceeds budget either resulted by scope not captured during bidding process or unrealistic budget/negotiation during bid stage.
2. Scope Changes – project’s scope to extend beyond its original objectives / misunderstanding of scope.
3. Delay in delivery/schedule – either due to unrealistic or overly optimistic schedule or scope changes and inefficiencies during execution impacting on schedule.
4. Quality issues
5. Personnel with inadequate skills/incompetent teams
6. Resource/manpower deprivation or change of personnel during project execution.
7. Lack of Accountability –team members not fully committed and responsible.
8. Poor or lack of communication, working in silo, delay in highlighting issues, information/changes not passed on to the team resulting in delay/rework.
9. Team Issues – personalities that may require some amount of management, disagreements and difference of opinions which may have impact on the progress of the project.
10. Delay on input from client/ late decisions -impact on project deliverables/schedule.
11. Late receipt of vendor data/ late input or delivery from third party contractors (e.g safety studies)
12. Interface management – delay on input.
13. Risk management

We put together a powerful learning retreat for Project managers, titled

• Making Project Management work  – solving real PM challenges

Board and management always focus on strengthening and growing the businesses. This is done through better operational and financial performance which depends on sound business excellence practices. We put together a learning retreat to address business excellence practices that works:

• Business excellence framework, practices and challenges.

We help passionate Internal Auditors succeed through our one on one coaching program. Each year we allocate complimentary coaching program to 5 selected Internal Auditors who apply to be coached. Applications are invited from interested auditors who contact us.