INTERNAL AUDIT, RISK & FORENSIC CONFERENCE 2023

INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)

THE INTERNAL AUDIT, RISK & FORENSIC CONFERENCE
Theme: Redefining resilience and operational efficiency.
Date: 27th November -1st December 2023
Venue: Sarova Whitesands Beach Resort & Spa, Mombasa
09.00am-03.30pm

OVERVIEW

Internal audit, risk, and forensic are three distinct but interrelated fields within the broader spectrum of corporate governance, risk management, and financial oversight. Internal audit is an independent and objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by monitoring the adequacy and effectiveness of internal controls, risk management processes, and compliance with policies, procedures, and regulations. The scope of internal audit practice covers a wide range of areas, including financial controls, operational processes, information technology systems, compliance with laws and regulations, and more. Risk Management on the other hand is the process of identifying, assessing, and prioritizing risks and taking actions to minimize or mitigate their impact on an entity’s objectives with a goal of improving decision making and handling of risks and uncertainties. This can involve risk avoidance, risk mitigation, risk transfer, or risk acceptance. Forensics involves the application of accounting and investigative skills to gather, analyze, and preserve financial and other evidence with an aim to uncover fraud, financial irregularities, or disputes resolution.

The overall risk landscape over the past few years has proven complex, but the resilience shown by businesses has been remarkable. Internal audit function has had to become more resilient, flexible, and resourceful, however the challenges are far from over. A volatile economic outlook, geopolitical events, and rising interest rates continue to bring forth new and evolving risks which creates a need for players in this field to be frequently updated on all faucets and foregoing new regulations and guidance issued from time to time. The emergence of global AML sanctions as well as strict requirements on AML, FATCA & GDPR reporting require that the control functions heads and staff familiarize with the pertinent skills necessary to undertake their oversight and reporting roles in pursuit of compliance. The risk landscape has shifted over the past couple of years and various new developments and global emerging issues have been pointed out. The thematic areas include both emerging and established risks which Internal Audit should consider when preparing its agile annual Internal Audit plan. Some of the key areas of focus include Economical, and geopolitical uncertainty in which the IA function plays a major role, considering how the first and second lines of responsibilities based on the Three Lines model apply in identifying and assessing where these risks and pressures are likely to impact the organization’s operations. Climate change and sustainability has also a great agenda of discussion since Stakeholders increasingly expect organizations to meet the needs of the present without compromising the ability of future generations to meet their own needs. The challenges and risks that organizations face in achieving their sustainability goals and minimizing their contribution to climate change will increase over the coming years. Investors, regulators, customers, and employees are increasingly expecting organizations to consider sustainability in every facet of their business. IA function is expected to provide advisory support on the readiness of the organizations for CSR reporting and building appropriate governance and control frameworks to support this new non-financial reporting regime.

Cybersecurity and data privacy in the current hybrid working environment and age of bug data handling and adoption of new technologies such as cloud-based platforms have increased data privacy and cyber security risks including ransomware attacks. Regulations such as GDPR formulated by the European union and enforced in May 2018 should not be overlooked by internal auditors and should remain key focus to prevent large penalties and reputational risks. Talent management and retention, digital disruptions and new technologies and operational resilience including business continuity and crisis response are among the key risk thematic areas to be considered in internal audit and risk management.

It is on this backdrop that the institute has organized this important seminar to have an in-depth discussion on the necessary updates and guidance in line with the contemporary approaches to risk management in a dynamic and complex business environment and various other perspectives to dealing with risks in the current times.

The sessions will focus on practical application, case studies and interactive discussions as methods to be used during the delivery of the sessions which will cover the following topics.

1. Critical data analytical skills for internal audit and forensic investigators
2. Leveraging on technology to combat fraud- Emerging tools and technology for fraud detection.
3. Data analytics, artificial intelligence and machine learning- Way forward for the modern forensic auditor
4. Regulatory compliance and legal requirements for forensic investigations- Cross border investigations and navigating international legal frameworks.
5. Skillsets for forensic investigators and auditors- Industry specific expertise and continuous learning and development
6. Understanding the main phases of an audit process: Risk based audit planning, field work, reporting, monitoring.
7. Implementation of an effective and sustainable Quality Assurance Program (QAIP)
8. Audit Committee Role, composition, Responsibilities, & Function, Overview of typical agendas and reporting expectations
9. Highlights of the International Professional Practices Framework (IPPF)
10. Substantive audit procedures for key processes in the public and private sector audits
11. Internal Controls Framework (ICF): overview and implementation
12. The essentials of the Risk Appetite Framework and the role of different players
13. Positioning of Internal Audit and Risk professionals within the structure in both public and private sectors
14. Mental health and team productivity in the workplace
15. Healthy lifestyle for a healthy professional life

TARGET AUDIENCE:

The seminar is ideal for mid-level and high-level executives including Managing Directors, CEOs, Board Members, Audit Committee Members, Chief Audit Executives (CAEs), Chief Risk Officers (CROs), Heads of Audit, Heads of Risk, Forensic Audit Officers, Heads of Forensic Audit Units, Investigation Officers, Internal Audit Staff, Risk Management Staff, Heads of Departments, Senior Managers, Chief Finance Officers, Chief Operations Officers, Chief Information Officers, Chief Compliance Officer,. This seminar is not limited to the accountancy profession only, staff from other units are highly encouraged to attend.

CONFERENCE CHARGES:

 Continuous Professional Development Units

Members of ICPAK and other reciprocating professional bodies will earn 20 Structured CPD points upon successfully attending the Conference.

National Industrial Training Authority (NITA) Reimbursement

The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke).

 Sponsorship Opportunities & Additional Information

The Internal Audit, Risk & Forensic Conference attracts over 200 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through raphael.nguli@icpak.com. Other requests for information can be channelled to us via telephone on +254 733 856 262/ 727531006/ 733856262/ 721469169.

We encourage you to regularly visit our website www.icpak.com for updates on the Conference