Establishing the Internal Audit Function, and Transforming the Internal Audit for Positive Contributions to the Bank

In line with BSP rules and the BSP-prescribed professional standards such as the IIA's ISPPIA

Principal Course Developer: Ms. Edel Mary Vegamora

TRAINING OBJECTIVES:

• To provide a reference framework for the Internal Audit (IA)Function policy/guidelines/practice (in line with Principles, Regulations, and IA Standards).
• To Highlight the IA Attribute Standards and IA Performance Standards.
• To provide a reference framework for the Core Processes of Internal Audit, wherein embedded are the IA Supervisory Review Touch Points, the Internal QAIP of IA, and the mandatory External QAR of IA function (5-year cycle of EQAR).
• To share relevant experience and insight on how the IA Standards would impact the CAE & Internal Auditors, the Management of auditable units, the Board/Audit Committee.
• To provide a venue for Participants' Learning Assessment and for them to articulate their views on certain topics of this Training Program.

Learning Assessments would be conducted at various points of the training, via online Q&A; virtual breakout rooms for group discussion; plenary presentation by participants).

AGENDA / TRAINING OUTLINE:

I.Back-to-Basics. The Framework of Internal Auditing (IA).

II.The Board AuditCom. Tone-at-the-Top and the bank's Culture for Internal Auditing vis-à-vis Regulatory Standards & Expectations of IA's Stakeholders & Regulators.

III.Core Processes of IA and Key Control Points of IA Activity.

IV.Risk-based Audit Methodology and the Regulator's prescribed/mandatory Audits on specific Business Units / Areas of the bank.

V.Internal Audit Policy & Implementing Guidelines. Illustrative 'table of contents' of the Internal Audit Manual.

VI.Highlights on particular Audit Work Standards; the usual coverage of the mandatory E-QAR on IA.

VII.The Operational Risk and the Regulatory Compliance Risk posed by IA, as one of the functional units of the bank.

VIII.Some Challenges, even for a Well-established Internal Audit Function. (Case/Group discussions.)

TARGET AUDIENCE / PARTICIPANTS

• New Joiners of the Internal Audit Department (IA Group) in banks. This will serve as their high-impact Introduction into the Internal Audit Culture in banks.
• Internal Audit Executives and Audit Committee Directors, who are establishing or overseeing for the first time, the Internal Audit function in their organization.
• External Quality Assessors of IA for banks.
• Internal Auditors who are responsible for the effective implementation of the QA&IP in their bank.
• Internal Auditors who need a timely Refresher on the Internal Audit Process, Policy, Practice in banks.
• Other Control Functions of the Bank.

RESOURCE SPEAKERS:

MS. MYRNA E. AMAHAN

First Vice President/Chief Audit Executive

Union Bank of the Philippines

MS. ESTRELLITA V. ONG

Chief Internal Auditor

BDO Unibank, Inc.

MS. EDEL MARY VEGAMORA

Audit Committee Chairperson and Former BOD, BAIPHIL

Fellow of the Institute of Corporate Directors- Society of Fellows

Former CAE/Former CFO of specific banks

Past President/BOD Chairman of IIA-Philippines (Y2002)

SCHEDULE:

JUNE 15-16, 2022

Wednesday-Thursday

10:00 AM - 5:00 PM

TRAINING FEE PER PARTICIPANT:

From Member Institution – P 4,480.00

From Non-Member Institution – P 6,720.00

**VAT inclusive