Why are we meeting? What are the objectives of the self-assessment meeting?
Defining the meeting objectives is the most important aspect of planning a self-assessment meeting. This requires members of the audit team to meet with the auditee in advance to determine their needs and wants. For example, the auditee may ask the auditor to facilitate a self-assessment meeting at the organizational level designed to:
Topics: Audit Planning, Self-Assessment, Performance Management/Measurement
Once a company forms an internal audit function, completes the risk assessment process and develops an internal audit plan that is responsive to the risk assessment, it can initiate individual internal audit assignments.
Topics: Internal Audit, Risk Assessment, Self-Assessment
The audit committee of the board of directors helps the board fulfill its responsibilities to the company and its current and potential shareholders, the investment community, and other stakeholders, with respect to its oversight of the following:
Topics: Accounting/Finance, Self-Assessment, Performance Management/Measurement
The first and simplest way to use the self-assessment process is to use it in determining your own internal audit function strategy and priorities. This is an excellent starting point, for numerous reasons:
Topics: Internal Audit, Self-Assessment
Self-assessment is a process through which an organization utilizes its internal knowledge to identify and assess uncertainties and the extent to which current practices are sufficient and appropriate to manage and achieve strategic objectives. Self-assessment drives the "tone at the top" down to process owners.
Topics: Internal Audit, Internal Controls, Entity-Level Control, Self-Assessment
Thorough business continuity plans help organizations minimize the risks of a disaster and restore vital business functions without significant detrimental effects. This blog post examines the fundamentals of business continuity management (BCM) planning and highlights critical lessons learned from various recent disasters, providing actionable steps you can take to create a customized plan.
Topics: Risk Assessment, Governance, Risk & Compliance, Strategic Risk, Business Continuity Management, Self-Assessment, Performance Management/Measurement
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