Audit, Risk, and Control - A lesson on reliance
How to apply strategies and best practices for a reliance program. CPE: 1.0
The focus on coordinating efforts among the Three Lines of Defense has been a regular point of conversation for the past several years. Based on the most recent update to the IIA Standards, we should consider combining our efforts in audit planning and audit committee reporting in order “to ensure proper coverage and minimize duplication of effort” (IIA Standard 2050). But how exactly can we do this? It’s not as simple as just claiming to rely on the work performed by other groups. The responsibility falls on our teams to review the quality of the work done by other assurance teams and then to hold then accountable for their work so that we can rely on them.
After completing this course, you will be able to:
- Identify candidates in the other Lines of Defense for reliance
- Perform a review of other assurance provider work
- Apply strategies real world best practices for working together as an assurance team
CPE Hours: 1.0
Field of Study: Auditing
Prerequisites: Basic knowledge of internal audit
Who Should Attend: This session is designed for all internal auditors
Advanced Preparation: None
Program Level: BasicDelivery Method: Self Study
Toby DeRoche is a Certified Internal Auditor (CIA) who holds an MBA with an Internal Audit specialization from Louisiana State University. He is also certified in Control Self-Assessment (CCSA), Risk Management Assurance (CRMA), Internal Control (CICA), Fraud Examination (CFE), and he is a SAFe 5 Agilist (SA).
His professional background includes identification and documentation of weaknesses that result in heightened business risk, while recommending solutions to such situations. Toby began his career in internal audit with Macy's Inc. He then worked as an implementation and training consultant for Wolters Kluwer. As a Solution Consulting Manager at Wolters Kluwer, Toby works with organizations that are looking for software solutions to their audit, risk and compliance needs. Throughout his career, Toby has assisted numerous internal audit departments create, perform, and supervise financial, operational, and compliance audits to evaluate control frameworks, financial systems and operating procedures.
Toby is also an experienced author and presenter, having delivered over 50 continuing education presentations to audit, risk, and fraud professionals.