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             Early Bird Deadline      CGBP                                                                              

WEDNESDAY & THURSDAY, 17 & 18 June 2020 * 9:00AM to 5:00PM

Your organization needs to set up an internal audit group as soon as you start delegating key functions to other people such as finance, cash disbursements and receipts, procurement of inventories, maintenance, and even marketing. Someone has to review if the work is done right and complying with policies and procedures to ensure that no cheating, fraud or abuse is happening.

This two-day special program is to help both for profit and non-profit organizations as well as private and public institutions in their capacity building to set up and maintain an internal audit department. A functioning and effective internal audit system will help you improve your risk management and cost control processes including monitoring and detecting fraud, provide recommendations for more sound corporate governance practices and truly effective and efficient operations. Learn the best practices for better business performance.

And for those who have an internal audit department, attend and check if you are doing it the RIGHT WAY
   Limited Seats Only, Pre-Registration Required

Avail of the Early Bird DISCOUNT

   Contact Person: Jamie Borlaza
   Manila lines: (+632) 8556-8968 or 69
 Telefax: (+632) 8842-7148 or 59
   Cebu lines: (+63 32) 512-2914 or 07
   Legazpi line (+63 52) 736-0148

Course Director & Lecturer:
Mary Jane O. Rosales, CPA, CIA
She was the President of The Institute of Internal Auditors in the Philippines (2008). She has helped several organizations to improve their internal audit functions and aligned those with existing ones to the current best practices in internal audit. Many of her initiatives are focused on promoting internal audit as a way to strengthen the performance of many organizations.

She has a mastery in accounting, internal audit and risk management, having spent most of her career handling controllership & risk management functions in Petron Corporation. Obtained a B.S.B.A. degree, major in accounting, from the University of the Philippines (1979).

    Who Should Attend:

      • Business Owners
      • Board Directors
      • Management Teams
      • Decision-Makers
      • CFOs & Treasurers
      • Managers
      • CPAs
      • Business Consultants

   Training Investment is P16,580
   inclusive of Meals, Resource Kit, &
   Certificate of Attendance


EDSA Shangri-La Hotel, Mandaluyong City, Philippines
9:00am to 5:00pm, Wednesday & Thursday, June 17 & 18, 2020

Course Outline

I. The Cornerstones of Good Corporate Governance
      Governance is defined as the "system by which organizations are directed & controlled".
      The cornerstones of good governance are the following:
      • Board of directors or Audit Committee
      • Executive Management
      • Internal Auditors
      • External Auditors

II. Why establish an internal audit function
      • Regulatory requirement
      • Support to the Audit Committee's oversight role
      • Greater assurance for financial reporting
      • Added value to the organization by helping improve operations, governance, risk management and control processes
      • Increasing fraud incidents

III. What is internal auditing
      • Mandatory Guidance
      • Definition of Internal auditing
                  - Purpose
                  - Scope of work
                  - Objectives of internal audits
                  - Authority
                  - Responsibility
                  - Accountability
      • Independence and objectivity
      • Organizational position
      • Reporting relationships - functional and administrative roles of the Audit Committee and the President/CEO
      • Direct access to the audit committee and board
      • Restrictions in performing operational responsibilities

IV. Role in governance, risk management and control processes
      • Governance processes
      • Risk management processes
      • Internal Control processes

V. Roles in Supporting the Audit Committee's Oversight Function
      • Provide assurance and overall opinion on the adequacy and effectiveness of governance, risk management and
        control processes
      • Provide the results of reviews and actions taken by management on financial reporting, compliance with laws,
        regulations, policies, procedures, safeguarding of assets and operational effectiveness and efficiency
      • Perform projects, special studies, investigations, or other services in matters of interest or concern to the Audit Committee
        or Board that are outside the scope of the annual Audit Plan
      • Report on significant risk exposures, control issues, including fraud risks, governance issues and other matters needed
        by the Audit Committee
      • Select external auditors and evaluate their performance
      • Educate the audit committee on best practices in governance, risk management, control and compliance
      • Assist in the self-assessment of the audit committee
      • Act as the secretary of the Audit Committee

VI. Establishing the Internal Audit Function
      • Audit Committee and CEO to give their expectations or requirements from internal audit (the balancing act)
      • Develop the Internal Audit Charter
      • Ensure it contains the "mandatory" contents
      • Ensure alignment with Audit Committee Charter
      • Secure written approval
      • Determine the "staffing requirement" of the internal audit activity
                  - Determine bases for staffing internal audit function
                  - Develop CAE job description and specifications first
                  - Roles and responsibilities
                  - Qualifications: knowledge, skills and experience
                  - Hire the Chief Audit Executive first
                  - Develop job descriptions and specifications of other positions
                              o Deciding whether to build the internal audit function in-house, fully outsource or partially outsource,
                                 advantages & disadvantages of each option
                              o Hire or outsource based on decision
      • Develop a risk-based audit planning process or methodology:
                  - Risk assessment model/framework
                 - Consider inputs from senior management and the audit committee/board on risks that may prevent the
                   organization from achieving its strategic objectives
                  - Coordinate with other assurance providers
                  - Staffing plan and financial budgeting process
                  - Review and approval process of the Audit Committee or board
                  - Monitoring and reporting process on achievement of the audit plan to the Audit Committee or Board

VII. Ensuring the Internal Audit Function Continues to be Effective
      • Managing internal audit
      • Concept of adding value
      • Developing a competency framework and staff development plan
      • Developing a Quality Assurance & Improvement Program
                  - Identify key performance metrics of internal audit
                  - Track, monitor and report results of QAIP to the Audit Committee or Board
      • Develop internal audit manual or policies & procedures based on the IIA Standards & Code of Ethics
      • Advocate or communicate the existence of internal audit function to the rest of the organization
      • Reviewing performance of internal audit function

VIII. Summary and Conclusion

TRAINING FEE PER PERSON: P16,580 (Fee covers Meals, Resource Kit, Certificate of Attendance)


Less 5% for early registrants (on registrations made on or before May 17, 2020)
Less 5% for early payment (if made on or before June 7, 2020)
Less 5% for group registration (minimum of 3 participants)


CGBP also accepts in-house training and consulting for individuals, families, and corporate clients
You may call Center for Global Best Practices:
Manila lines: (+63 2) 8556-8968 or 69; telefax (+63 2) 8842-7148 or 59
Cebu lines: (+63 32) 512-3106 or 07; Baguio line: (+63 74) 423-2914.
We invite you to check our website for a complete list of Best Practices Programs

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