Global Best Practice. in Internal Audit Award

Transcription

1 Global Best Practice in Internal Audit Award

2 About the Award For the 1 st time in the Internal Audit profession, the UAE Internal Auditors Association has the pleasure of announcing the 1 st Global Best Practice in Internal Audit Award. The award aims to appreciate Internal Audit departments that go the extra mile to implement practices and standards to ensure effective & efficient performances when compared to other organizations. Through this award the UAE Internal Auditors Association aims to encourage Internal Audit departments to improve and enhance their activities by learning from those who have been successful.

3 Vision To pursue excellence in processes by recognizing Internal Audit departments Best Practice. Mission To encourage organizations through their IA activity to challenge their approaches for better management of processes. To share with the business community successful practices for a better governed business community. To create awareness of IA profession amongst smaller business entities.

4 Why Participate in the Global Best Practice Award 1. Motivate Internal Audit professionals to demonstrate their capabilities. 2. Create a Culture to share Best Practices within Internal Audit departments. 3. First of its kind in Internal Audit.

5 Award Sectors 1. Government. 2. Private (including semi-government and government owned entities).

6 Award Categories 1. Governance, Risks & Controls. 2. IT & Cyber Crime. 3. Fraud.

7 Award Criteria

8 Innovation Extent of Innovation such as (but not limited to); Internal Audit Processes, Organization Structure, Method/Approach, Software, Knowledge, Reporting. Innovation resulting in value addition to the business. Innovation empowering employees.

9 Successful Structured Implementation Documentation of Processes, Communication & subsequent Implementation across all levels. Implementation of The International Professional Practices Framework (The IPPF) and Compliance.

10 Benefits to Internal Audit Department (Results of Minimum 1 Year) Effective use of IA resources. Reduced audit cycle time. Tangible cost savings. Improvement in Quality of processes. Employee Satisfaction. Communication & Adaptability to changing organizational needs. Audit related benchmarking.

11 Benefits to Organization (Results of Minimum 1 Year) Effective utilization of resources. Tangible cost savings. Improvement in Communication and Quality of Organizational processes. Effective mitigation of risks. Stakeholder surveys such as (but not limited to); Board, Audit Committee, Management and Employees.

12 Process Timeline

13 How do I Participate? Fill the Submission Form. Nominating one Best Practice per category. (22-Oct) Participation in one or more category is permitted. 1,200 words max. per Best Practice submission. All documents must be submitted in soft-copy format only.

14 Shortlisting Process Independent panel to shortlist based on the original submissions. (4-Nov) Shortlisted submissions to be presented to the panel on shortlisted submissions (to be substantiated with additional evidence). (11-Nov) Top 3 practices will be selected for FINAL presentation.

15 Adjudication Process Top 3 finalists will be required to present their best practice in the conference on December 6 th 10 mins max. for each presentation. Winners will be selected by an independent jury team consisting of respected professionals; plus an audience voting (one vote per organization).

16 What do I Benefit from Participating? Recognition of the Best Practice. Internal Auditor s Best Practice Award e-booklet. Media Coverage through UAE IAA media (such as; Social Media, Magazine, Newsletter, etc). Exclusive use of award logo for a period of one year.

17 How many submissions can I participate with? One per category, effectively 3 (one in each category)

18 How to Download the Forms? Either Click on the below link. Google Drive Best Practice Award. Or scan the following bar-code. For queries, us at:

19 Q & A

20 Thank You