Board Induction Workshop : New Boards, Audit Committees & Heads of Audit

Event: Board Induction: Workshop for New Boards, Audit Committees and Heads of Internal Audit (Recommended Training)

Date: February 26-March 1, 2024

Venue: Sarova Whitesands Hotel, Mombasa

There is a learning curve for any new Board and Audit committee member. How quickly the Board and Audit Committee members will learn in their new roles and add value to their organizations is dependent on the onboarding process and quality of induction. A structured induction program including essential information and briefing materials, quality discussions with key people, and a "roadmap" for getting up to speed can accelerate a new member's integration and contribution to the committee's work. An induction program also necessitates understanding how the organization operates, its strategies, risks, and management team as well as the responsibilities and culture of the board and its committees take time. For new audit committee members, onboarding presents an added layer of complexity as compared to board members in general given the intricacy and scope of the financial reporting, legal and regulatory compliance and risk oversight issues on the Board and audit committee's plate. Corporate governance best practices require organizations to provide a formal induction program for new members. This workshop will take new board members on A-Z of audit committee business as well as board issues.

The workshop will cover:

• Closing the Expectations Gap: Role of Boards in Building a Better Internal Auditor.
• Auditing Strategic Alignment: Linkages between expectations of Boards and daily operations of organizations.
• Legislative and Regulatory Requirements:

1. Leading Governance practices.
2. The various codes of Governance.
3. The PFM Act and Regulations.
4. The Mwongozo Code of Governance for State Corporations.

• Role and emerging expectations of Board Audit Committees:

1. Purpose, mandate, responsibilities, and coverage.
2. Understanding key definitions (e.g., accountability, independence, objectivity, public interest, value).
3. Reporting lines of the chief audit executive (organizational independence).

• Effective Board and Audit Committee Meetings:

1. Stakeholder engagement.
2. Leveraging the individual capability of committee members.
3. Annual meeting calendar.
4. Setting the forward agenda and individual meeting agendas.
5. Appointment, Appraisal, Removal, and Positioning of the Internal Audit Function.

• Governance features of Audit, Risk management, and Compliance:

1. Insights from the governance lighthouse.
2. External accountability (including published financial statements).
3. Compliance with applicable laws and regulations.
4. Internal and external audit delivery.
5. Board and Board Audit Committee Evaluation.

• Oversight of Risk Management and Internal Control Frameworks:

1. Fraud and corruption prevention.
2. Clear accountability for risk management and internal control.

• A Glimpse at Leading Practices around the World: Highlights on King III Reports.
• Overcoming Organizational Political Pressure.

The workshop will be from February 26-March 1, 2024, at the Sarova Whitesands Hotel, Mombasa. Charges are KES 80,000 and KES 85,000 exclusive of VAT for members and non-members respectively. Members in attendance will earn 20 CPE Hours.

NATIONAL INDUSTRIAL TRAINING AUTHORITY ACCREDITATION:

The Institute of Internal Auditors Kenya is an accredited training provider with the National Industrial Training Authority (NITA). The NITA registration number is NITA/TRN/558(25b). Participants who are registered levy contributors can apply to NITA for reimbursement of their fees. This applies to Kenyan citizens and is subject to NITA regulations. Visit (https://www.nita.go.ke/​ ) for more information.

FURTHER DETAILS

Please call us at +254721615863/+254780615863 visit www.iiakenya.co.ke or email training@iiakenya.co.ke.