B1: Governance & Audit Management – Business Model and Best Practice – Ehab A. Abbas - (Advanced and intermediate)
Based on a case study from the oilfield services industry, this presentation will provide the audience a best practice in addressing some of the most pressing questions in governance and audit management that face multinational corporations operating in diversified regulatory, cultural and operational environments; including.
1. Policies and procedures that work in one place or a given business context don’t necessarily fit everywhere else.
2. How to develop comprehensive activity-specific risk maps including cause and root cause analysis, and be able to relate individual policy clauses to specific risks so that the auditors are able to form an opinion on the comprehensiveness of the risk maps, the relevance and adequacy of the policies write up in addressing the specified risks and the degree of organizational compliance;
3. The role of technology in addressing the complexity of scale involved in managing global virtual audit teams, enabling pre and post audit activities (preparation and reporting) and in seamlessly integrating the audit function in the entire governance cycle.