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Auditing Operational Cost Optimization (Virtual)

Event: Auditing Operational Cost Optimization (Virtual)

Date: August 24-25, 2022

Venue: Virtual via Zoom

Now in recovery after a major global economic crisis, organizations are reshaping their strategies to achieve sustainable business growth in new ways, and continuing to seek value creation through improved operational performance – including dimensions of quality, speed, agility, efficiency, environment, customer value, and cost.

Management is therefore focusing on initiatives and issues that impact the operating models of business activities and processes, such as environmental stewardship, operational excellence, supply chain optimization, offshoring, talent mobility, innovation, and cloud computing to name a few. Given these dynamics, internal audit is in a unique position to influence value enhancement efforts. This is achievable through Operational Auditing.

The era of Sarbanes-Oxley seriously diminished the activity of Operational Auditing in many audit shops, whereby today its concept is somewhat misunderstood, the diversity of its scope curtailed, and a new generation of internal auditors are unsure of its application. The IIA's response to address this dilemma is a training program that aims to invigorate and revitalize Operational Auditing to its rightful place in the internal auditing toolkit.

Participants will get to explore current and emerging business trends and issues across industry sectors. They will also discover that operational auditing plays an important role in today's business environment well beyond the realm of money, compliance, and traditional internal controls, and into the realm of a trusted business partner influencing management's pursuit of operational excellence.

They will also learn how to employ various methods, tools, and skills to collect and analyze operational information and data, identify causes of operational issues and risk exposures, and develop solutions to enhance the operational performance of business activities, processes, and / or resources deployed across the organization.

This highly interactive and dynamic program engages participants through group sharing, focused activities, and case study-based simulations.

The workshop will cover:

  • Dynamics of Operational Auditing
  • Value Centric Skill Sets and Knowledge
  • Planning for Success
  • The Risk-Based Operational Audit
  • The Process Oriented Operational Audit
  • Creating a Positive Impact

Who Should Attend?

This workshop is suitable for:

  • Chief Audit Executives, Audit Directors, Audit Managers, and Audit team leads, with over two years of practical auditing experience, and who are looking to integrate operational auditing into their service offering or enhance the value of operational auditing services provided to the organization.
  •  Business managers responsible for ensuring effective use and management of corporate resources, who want to evaluate and improve the operational performance of business activities, processes, or resources deployed.

This virtual event will be held from August 24-25, 2022 via zoom. Charges are KES 10,000 exclusive of VAT for Members and Non-Members. Members in attendance will earn 14 CPE Hours. The zoom link will be shared with participants upon registration.

NATIONAL INDUSTRIAL TRAINING AUTHORITY ACCREDITATION:

The Institute of Internal Auditors Kenya is an accredited training provider with the National Industrial Training Authority (NITA). The NITA registration number is DIT/TRN/558(25b). Participants who are registered levy contributors can apply to NITA for reimbursement of their fees. This applies to Kenyan citizens and is subject to NITA regulations. Visit (https://www.nita.go.ke/ ) for more information.

Event Properties

Event Date 24-08-2022
Event End Date 25-08-2022
Individual Price Members Ksh 10,000 exclusive of VAT, Non-Members Ksh 10,000 exclusive of VAT
Location Virtual

OnRisk Report 2021

In the 18 months since the COVID-19 pandemic first shuttered the world, organizations have learned to embrace the unexpected. Board members, C-suite executives, and chief audit executives — the key players in risk management — now know that low likelihood/high impact risks must be given greater consideration. This realization has jolted boards into greater awareness of risk management weaknesses, energized senior management to build more nimble and resilient organizations, and positioned internal audit to deliver broader value.

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INTERNAL AUDIT COMPETENCY FRAMEWORK

INTERNAL AUDIT COMPETENCY FRAMEWORK

[Download PDF HERE]

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