THE ANNUAL INTERNAL AUDIT, RISK & FORENSIC CONFERENCE

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

THE ANNUAL INTERNAL AUDIT, RISK & FORENSIC CONFERENCE
Theme: Resilience and preparedness in a new risk era
Date: 28th November to 2nd December 2022
Venue: Sarova Whitesands Beach Hotel, Mombasa

Overview

The internal audit function provides independent assurance that the focusses on keeping in check an entity’s risk management, corporate governance, and internal control processes and ensure they operate effectively. This function provides an oversight role that is fundamentally vital to the survival and prosperity of an organization. In contrast to external audit, internal audit tends to look beyond financial risk and statement but delves deeper to issues such as culture, reputation, growth prospects, impact to the environment and stakeholders and an entity’s relationship with its workforce.

Over the years internal audit has often been misunderstood therefor facing unfavorable perceptions indicating the practice as a policing body that majors on reporting on what went wrong, however a more expansive and progressive view of internal audit defines it as a pivotal tool in provision of both assurance and advisory solutions to aid management in navigating future challenges and making informed decisions taking full advantage of the opportunities that every risk offers. The international professional practices framework (IPPF) provides guidelines on the scope of internal audit, its roles within an institution and the professional practice. The core pillar of internal audit can be attributed to risk management which aids to identify and document an entity’s risk in critical business and operational processes and the internal controls within each process to mitigate those risks.

After the covid19 pandemic and its disruptive wave hit the global commerce landscape off-guard, many business entities were placed in a tight spot to rethink their risk assessment processes. This being a classic example of a low probability- high impact risk event, it hatched the need to make risk assessment more accurate, more encumbering, and more responsive to the quickly changing risk environment. Looking keenly into the current uncertainties facing businesses operations both locally and globally such as economic and political volatility caused by the pandemic effects combined with the normal dynamics of macroeconomic cycles, this gives internal auditors a new point of focus in turning risks into competitive advantages. Institutions must have the ability to rank, evaluate and prioritize these risks and opportunities related to unique circumstances. As economic recovery progressively takes shape, managing compliance and regulatory risks has also become increasingly complex and this has developed a need for a structured approach to identify, measure, examine, implement, and monitor critical regulatory and compliance risks. Internal audit and risk function plays a considerable role in regulatory and compliance risk management by providing objective and independent assurance on effectiveness of an organization’s compliance and regulatory framework.

It is against this brief backdrop that ICPAK has organized this Annual internal audit, risk & forensic conference to have an in-depth discussion on both current and future risk focus areas and to enable professionals in the risk and controls function to share experiences and exchange ideas on various dilemmas and opportunities as presented above. The key topics below cutting across the three fundamental clusters of this seminar will form basis of discussion.

Audit Cluster Topics

1. Internal audit role in financial controls
2. The audit performance appraisal agenda: Navigating the grey areas
3. Understanding the main phases of an audit process: Planning, field work, reporting, monitoring
4. Implementation of an effective and sustainable Quality Assurance Program (QAIP)
5. Overview of the Internal Audit Competency Framework
6. Audit Committee composition, roles and responsibilities
7. Overview of the International Professional Practices Framework (IPPF)
8. Risk Based Audit Planning
9. Optimizing internal audit through developing competent top talent, succession planning and talent management

Risk Cluster Topics

10. Overview of Third-Party Risk Management (TPRM) and the role of control functions
11. ESG, environmental sustainability and climate risk analysis
12. Digital & cyber risks, Robotic Process Automation and Artificial Intelligence
13. Assurance and risk management in a continuously growing cloud-based environment
14. Business resilience: Pandemic response re-organization and strategic resilience
15. Implementation of an effective ERM Framework
16. General Data Protection Regulations (GDPR)
17. Understanding of Key Risk Indicators and how to establish the right matrices

Forensic Cluster Topics

18. Internal audit role in containing fraud and AML
19. Critical data analytical skills to enhance the forensic audit process
20. Big data analysis
21. Inquiring Methods and Fraud Report
22. Interviewing Techniques & Tricks
23. Understanding Financial Statement Fraud
24. Understanding Revenue and Inventory-related Fraud
25. Recognizing the Symptoms of Fraud
26. Appreciating Whistleblowing within Organizations

Soft Topics

27. Mental health for professionals
28. Future of internal audit, risk & forensic career
29. Health and wellness to enhance productivity and team cohesion

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.

CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and those from other reciprocating professional bodies will earn 20 CPD units upon successfully attending all conference sessions.

Financial Commitment:

Note: Delegates are required to make their own travel and accommodation arrangements. Seminar charges cater for training fee, training materials, certificate and meals during the event.

Online Booking:

We call on Conference participants to note that booking is available only online at www.icpak.com/events.

Delegates are reminded to note that online booking for training sessions is MANDATORY.   This is available either online at www.icpak.com/events  or on the ICPAK Live – A smart phone-based application that is available from google store.

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)