Heriot Prentice presents "Internal Auditing" which answers the following questions: - What is Internal Auditing? - Why is it important? - What is the role of the Internal Auditor? - What are his recommendations for Risk Assessment? To learn more, please visit: http://linkd.in/Services_Vaco_Resources You can also connect with Heriot at hprentice@vacoorlando.com

1. Internal Auditing
Heriot Prentice
Vaco Orlando

2. Heriot Prentice
Over 28 years of proven management &
consulting experience in internal auditing. This
includes:
o Audit Team Leader for the Scottish Office
Audit Unit - Scotland's equivalent of the
Government Accounting Office (GAO)
o Senior Manager of Enterprise Risk Security
(ERS) with Deloitte
Heriot is also a Member & Distinguished Faculty Member of the
Institute of Internal Auditors (IIA).
Also led the creation & implementation of:
o The GAIT Methodology
o The Global Technology Audit Guide (GTAG)

3. What is Internal Auditing?
Internal auditing reviews:
o The reliability and integrity of
information
o Compliance with policies and
regulations
o The safeguarding of assets
o The economical and efficient
use of resources
o Established operational goals
and objectives.

4. What is Internal Auditing?
Internal auditing also provides assurance to management and the audit
committee that risks are understood and managed properly.

5. Why Are They Important?
Internal audits encompass
financial activities and operations.
This includes
systems, production, engineering,
marketing, and human
resources.
Can you afford to be without
Internal Auditing?

6. The Role of the Internal Auditor
Internal auditors identify all
auditable activities and relevant
risk factors, and assess their
significance. This includes:
o Investigating
o Evaluating
o Identifying potential trouble spots
o Communicating
o Anticipating emerging issues
o Identifying opportunities

7. Recommendations for Risk Assessment
Expand your efforts beyond an annual risk assessment process.
Risk assessment should have a continuous component

8. Recommendations for Risk Assessment
A successful risk assessment process is formalized within an internal
audit and aligned with business units.
This also helps ensure consistency.

9. Recommendations for Risk Assessment
Risk assessments should be transparent and interactive.
They should also involve senior management, external
auditors, and an audit committee.

10. Recommendations for Risk Assessment
Most importantly, emerging risks are identified and addressed
through flexible internal audit coverage

11. Contact Me
If you have a question or simply want to connect for a possible future project.
o Email: hprentice@vacoorlando.com
o LinkedIn:
http://www.linkedin.com/in/heriotprentice
o Phone: (407) 712-7878
o Cell: (407) 375-3182
My Services:
o http://linkd.in/Services_Vaco_Resources