Public Sector Risk Management and Internal Audit

PUBLIC SECTOR RISK MANAGEMENT AND INTERNAL AUDIT

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Duration	3 Days
Course Style & Assessments	Highly Participative with 70% practical application and 30% theory coverage and Participants’ Practical tasks assessed through Presentations
Benefits	Practical skills and knowledge, stimulating, meals and refreshments, presentations, materials, certificate of attendance and Free two-months support service.

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SPECIAL SERVICES FOR OUR INTERNATIONAL DELEGATES In addition to the above listed benefits, the NIT Corporate Training and Events Management team will provide the following to our international delegates:

• Facilitation for entry Visas where required
• Transport from and to the International Airport on arrival and when going back
• Accommodation reservations
• Transport for shopping where needed
• Transport, accommodation and meals to tour one of our Namibia’s beautiful Destinations (Coastal Towns -Swakopmund and Walvis Bay OR Etosha National Park
• A Notepad/Tablet.

PUBLIC SECTOR RISK MANAGEMENT AND INTERNAL AUDIT

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Introduction

Recent reports from the Auditor General on the public sector found that over many organisations did not have effective mechanisms to manage risks. As public sector organisations come under increasing pressures globally to reduce costs and improve accountability and performance, effective risk management and coordination with a strong internal audit function are critical to their success and survival.

This course offers an overview of the elements of a successful integrated risk management approach by reviewing best practices in public sector risk management and Internal Audit, from the adoption of enterprise risk management to the implementation of acceptable standards as expected through the Auditors General and as guided by the State Finance Act, 1991 (Act 31 of 1991) and International Public Sector Accounting Standard (IPSAS) in the day-to-day operation of the internal audit. Topics covered include why use enterprise risk management, approaches to enterprise risk management used by the public sector, managing the internal audit function, risk assessment and evaluation of internal controls design and testing their operating effectiveness. We will also cover in overview the documentation process for conducting Internal Audit assignments, elements to be included in the working papers and how findings are reflected in the audit report. The course also examines how to structure and Internal Audit Department and the various skills needed with changes in the public sector environment.

The course will answer questions such as:

• What are the benefits of a coordinated, systematic approach to risk management?
• What is enterprise risk management and is it appropriate to my public sector organisation?
• How should risk management be devolved through the organisation?
• Why is risk management so difficult to embed successfully?
• How to structure the relationship between operational risk managers, the risk management function and internal audit?
• How does the internal audit department add values to the organization?
• Why do some internal audit departments fail to deliver effective assurance?
• How is internal audit effectiveness measured – objectively and subjectively?
• What are the key standards for internal audit?

All the National Institute of Technology (NIT) training programmes have been developed by the industry experts to suit the needs of the industry and are aligned with the fundamental National Developmental Plans Goals of Namibia and those of all other SADC member countries thus effectively contributing towards the national and SADC regional economical, industrial and prosperity developments.

Our course programs and delivery styles are very stimulating with practical based contents. They provide modern hands-on relevant skills and knowledge that empower all participants at all levels of every organization to practically apply the gained skills and knowledge in their respective duties without difficulties hence being productive, respected and valued by every employer and colleagues. Participants are assessed through group and/or individual tasks which involve presentations.

NIT provides 2 months Free Support service to all the participants to support them in implementing or using the skills and knowledge gained from any of our course programs.

PUBLIC SECTOR RISK MANAGEMENT AND INTERNAL AUDIT

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Upon completion of this workshop, participants will be able to;

• Gain knowledge of risk management best practices
• Develop understanding of internal audit concepts
• Review and understand the IIA Standards
• Learn the details of internal audit engagements
• Understand the importance of risk management and internal audit in the public sector

PUBLIC SECTOR RISK MANAGEMENT AND INTERNAL AUDIT

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Who Should Attend

The course is primarily aimed at the following Public Service Officials:

• Risk managers operating in the public sector
• Internal auditors operating in the public sector
• Qualified Internal Auditors and risk managers that needs a refreshing course
• Accountants, Assistant Accountants, Chief Accountants, Financial Controller operating in the public sector
• Managers with responsibility for setting up risk management functions in government departments, agencies and local government
• Those returning to working in risk management or internal audit
• Personnel within the public sector who need a better understanding on risk management and the internal audit role

PUBLIC SECTOR RISK MANAGEMENT AND INTERNAL AUDIT

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1.0 Introduction

• Overview
• Relationship between risk management and internal audit

2.0 Risk Management

• Risk Management frameworks
• Applicability of private sector enterprise risk management models (COSO Enterprise Risk Management Framework) to the public sector
• Internal control framework
• COSO Model
• COCO Model
• Setting an appropriate risk governance framework
• Integrating top down and bottom up risk management activities
• Coordinating the activities of functions with risk management responsibilities
• Drilling risk management into the organisation
• Risk management challenges; contracting public expenditure, partnership working, use of the private sector to provide public services
• Structure of the risk management team
• Managing the risk management process

3.0 Internal Audit 

The role of internal audit and the development of standards by the Institute of Internal Auditors Attribute standards

• Purpose, authority, and responsibility
• Independence and objectivity
• Proficiency and due professional care
• Quality assurance and improvement program

Performance standards

• Managing the internal audit activity
• Nature of work
• Engagement planning
• Performing the engagement
• Communicating results provisions
• Monitoring progress

Adaptations of International Standards for the Professional Practice of Internal Auditing to the public sector context 

4.0 Working papers and reporting

• Developing working papers
• Internal audit report
• Significant audit findings
• Engagement results

5.0 Internal audit department and audit skills

• Structure and organization
• Internal auditor skills
• Audit committee
• Managing the internal audit function

METHODOLOGIES

• Live group instruction in a workshop format
• Review the main IIA Standards and understand the principles
• Extensive use of real-world samples, documents, case studies and exercises
• High level of attention to individual participants
• Interactive participation is encouraged

All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

PUBLIC SECTOR RISK MANAGEMENT AND INTERNAL AUDIT

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How to Register for this Training

To register, please complete the attached registration form and e-mail or fax it back with proof of payment to: The Conference Organizing Committee; contact Person: Mr. Frederick Chizu Simpungwe at:

1. E-mail:info@nit-edu.org
2. Fax No.: +264 886559294 & Cell: +264 81 3294977

We also have Conference Sponsorship and Exhibition Opportunities. If your organization is interested to sponsor or exhibit at this important conference, please contact the office on info@nit-edu.org

Please find attached herewith a registration form with rates and the conference draft program. If you need any further information, please feel free to contact the undersigned.