Business guide to set up an internal audit system

MANILA, Philippines — When do you know it’s time to set an internal audit function for your business? An internal audit group or a person is essential as soon as you start delegating key functions to other people such as finance, cash disbursements and receipts, procurement of inventories, maintenance, and even marketing. Someone has to review if the work is done right and complying with policies and procedures to ensure that no cheating, fraud or abuse is happening.

The Center for Global Best Practices is launching a special program titled, “Best Business Practices on How to Set Up an Internal Audit System” on May 10 and 11, 2018 at the Manila Marriott Hotel, Pasay City.

While external auditors play a big role in business, they rely only on the truthfulness of the financial statement provided to them. But external auditors get to check after the fact or after fraud has happened. When you want to prevent fraud before it happens, this is where the value of an internal auditor becomes necessary and relevant. It is the internal auditor who can police your operations to check if there are irregularities that are happening. This provides you the need to have a well-functioning and effective internal audit system that can truly help you improve your risk management and cost control processes including monitoring and detecting fraud, provide recommendations for more sound corporate governance practices and very effective and efficient operations. 

This special program will feature course director and lecturer Mary Jane Rosales, former president of The Institute of Internal Auditors in the Philippines. She has helped several organizations to improve their internal audit functions and aligned those with existing ones to the current best practices in internal audit. Many of her initiatives are focused on promoting internal audit as a way to strengthen the performance of many organizations. While building her career handling controllership and risk management functions at Petron Corp., she earned mastery in accounting, internal audit and risk management.

This training is open to the general public. Attend this special program and learn the best practices for better business performance. Pre-registration is required in this limited-seats-only event. Interested participants may avail of the early payment savings and group discounts for three or more.

For details and a complete list of seminars check www.cgbp.org or call Manila lines (+63 2) 842-7148/ 59 & (+63 2) 556-8968 / 69, Cebu lines: (+ 63 32) 512-3106 / 07 or Legazpi Line: (+63 52) 736-0148.