Corporate Audit Division

Internal Audit has successfully completed a seminar on Risk Based Auditing last January 30 to February 1, 2008. Our speaker is Ms. Edna G. De Leon (currently IAD’s consultant).

The 3 days workshop includes the following:
1.Lectures on
a.Why Risk based Audit
b.Internal Audit Principles
c.Corporate Governance
d.Risk Management
e.Control and Risk Frameworks
f.Risk Based Audit Planning
g.Risk Based Audit Engagement

2. CIA Model Exams
3. Activity Workshop – Group discussion and presentation.

The participants (Associate Auditors and Senior Auditors) were grouped as follows:
1. Toddlers Group – explained as in the toddlers stage when it comes to organizational maturity. Members – SAA, JFL,RRC,RVD,SSI
2. Marimar Group – (sorry I failed to get the meaning)
Members – ATB,CBB,LOT,RAV
3. COSO Group – Committee of pSalm One two nine (from one of the story given by EGDL)
Members – MDG,CCG,IAN,JMA,KCY

Initially, each group was given half day to complete the seminar but most of the group asked for extension to one day. Each group has successfully presented the activity. IAD Management awarded the group with the highest grade in each of the criteria they have set for the activity. Over-all winner is the Toddlers Group.

Furthermore, we are very glad that IAD management provided us this seminar not only because of the free lunch/ merienda, and lay –off from current Audit obligations but more importantly is that it was free (this seminar when offered outside costs P12,000 per person) and that we have understood the principles which serve as foundation in embracing the risk based Auditing. Thank you po!