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One Day Seminar: Six Sigma Methodology for Internal Audit Activity

CPE Hours: 8
 
SKILLS FUTURE CREDIT APPROVED COURSE**
This 1-day seminar is eligible for Skills Future Credit claim. You can now use your skills future credit to pay for or offset skills related course fees by applying for claim(s) via the skills future credit website here.
 
INTRODUCTION
The fundamental objective of the Six Sigma problem solving methodology focuses on error/defect reduction to improve the process. Successful deployment of Six Sigma projects, using the Six Sigma define, measure, analyze, improve and control (DMAIC), could ensure continuous quality improvement of the internal audit activity. Problems could be defined, identified using analytical skills, root causes determined and possible solutions generated to improve the audit process.
 
The Six Sigma tools that will be covered includes:
  • Suppliers, inputs, process steps, outputs, and customers – “SIPOC” technique analyzes a process relative to these parameters to fully understands its impact. This could be used at the planning phase to document the overall process.
  • “Swim Lane” describes what activities are performed in a process and indicates who performs the activities. This could be used in performing the audit fieldwork as part of process mapping.
  • “Fishbone” diagram and “Five Whys” technique helps to identify all possible causes related to a given effect. During audit fieldwork, these tools enable clear identification of potential problems and target areas for improvement.

 

WHO SHOULD ATTEND
Auditors with at least 3-5 years of practical experience.
 
LEARNING OUTCOME
The purpose of this course is to expose participants to Six Sigma methodology and use of Six Sigma quality tools to improve the effectiveness and efficiency of internal audit process. Through the exercises, participants will practice and apply the skills learned to focus on improvement opportunities that provide customers’ satisfaction.
 
COURSE OUTLINE
Introduction to Six Sigma Methodology
  • What is Six Sigma
  • Why the need for Six Sigma (value add that internal audit provides to the organisation)
  • Where to apply Six Sigma (internal audit phases in planning, fieldwork and communication)
  • When to apply Six Sigma (internal audit phases that are not performing to expectations relative to target)
  • Who are the key players in Six Sigma
  • How to apply Six Sigma (DMAIC methodology in communicating results)
 
Application of Six Sigma Quality Tools
Process Mapping
  • Define and understand the purpose of process mapping
  • Review select process mapping tools (such as “swim lane” and suppliers, inputs, process steps, outputs, and customers – “SIPOC”)
  • Construct a SIPOC diagram of the Internal Audit process
Root Cause Analysis
  • Define and understand the purpose of Root Cause Analysis
  • Review different Cause and Effect tools (such as “Fishbone” diagram, “Five Whys” technique)
  • Apply Cause and Effect tools to improve Internal Audit cycle time
 
ABOUT THE TRAINER
Madam Fong Cheng Han has extensive experience in Finance, Auditing – both external and internal audit. She has worked in Ernst and Young and held various accounting positions, including Finance Controller positions of US multi-national companies. Her last position was the Executive Director of Internal Audit Services at Seagate Singapore International Headquarters.
 
She holds a Bachelor of Accountancy Degree from the National University of Singapore. She is a Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants, a retired Certified Fraud Examiner with the Association for Certified Fraud Examiner and also holds a Certification in Risk Management Assurance with the Institute of Internal Auditors Singapore. She is also a certified Six Sigma black belt.