Lean Auditing – Rethinking Internal Audit

Enrollment, coffee & breakfast

Background reasons to be proactive around Adding Value and Productivity Myths about Lean, it is i) not about cost savings and ii) can be fully compliant with IIA standards Origins of lean – Japan – Toyota, Nissan and Honda – not consulting speak but proven to work Key lean principles and techniques – Muda (Waste), Muri and Mura, Gemba, etc. Just in time

Coffee break

Customers of internal audit – internal and external and using the Kano technique to clarify Adding Value and non Value add The role of Internal audit – balancing advice / assurance requests – using the 3 lines model intelligently around auditing known and suspected issues A streamlined process for audit follow-ups

Lunch break

Audit planning – key issues from EQA reviews, the new IPPF requirements and how lean ways of working help audit planning Thinking about other assurances and different assignment types – in-flight reviews (for projects, design reviews, and audits Making the most of other assurances

Coffee break

Assignment scheduling, elapsed time and resourcing – benchmarks Assignment preparation – how to make the most of known issues and the importance of prioritising key exam questions Flushing out criteria questions early on to avoid “so what” push back later in the assignment Access to information and systems – and using liaison roles

Day 1 ends

Coffee & breakfast

Work programme design – effective key control analysis Meetings management – stopping meetings going “off track”

Data analytics – benefits and pitfalls to manage (must be a tool, not a toy)

Coffee break

Testing and knowing when to stop – how to get the balance right – the importance of “killer facts”

Root cause analysis (brief overview and case study) – understanding what it means to be proactive / insightful Reporting – benchmarking around length / format and time to produce and different approaches to create impact – tips around showing consequences

Lunch break

Streamlining recommendations / management responses and benchmarks/principles around how long management get to fix issues The importance of post assignment reviews – ways to structure to drive value and productivity Review of common / key opportunity areas – implications for the audit methodology Size of benefits of being lean – how audit metrics need to be adjusted, including the pitfalls of collecting too much data that will not be used

Coffee break

Enabling factors to be lean – audit software – gathering intelligence Team ways of working – signs of being lean/less lean (including team meeting management) Seeing this as a journey – typical quick wins that free up time for other areas

Day 2 ends