With the uncertainties and slow-down in many economies, businesses need to be agile to effectively manage risks and seek opportunities in a more challenging climate. For internal audit to effectively discharge its responsibilities in evaluating and improving the effectiveness of risk management, control and governance processes, it is important for internal audit to work closely with its stakeholders at all levels of the organisation to better align its focus to support the achievement of business and operating objectives and anticipate emerging risks. Frequent and open communications with stakeholders are necessary not only for internal audit to better understand their expectations, but also for internal audit to “market” its capabilities and share valuable insights so that stakeholders better appreciate the value of internal audit.
IIA Singapore, in partnership with Singapore Accountancy Commission, hosted the 2nd run of the Global Internal Audit Leadership Summit, themed “Building Collaborative Relationships” on 16 November 2016. Graced by Guest of Honour, Ms. Indranee Thurai Rajah, Senior Minister of State for Law and Finance, close to 200 delegates from Singapore and abroad attended the Summit. Two panels of distinguished thought leaders shared their valuable experience, knowledge and insights to re-energise internal audit professionals with new perspectives, as well as speakers who offered insights into their experiences on fostering good working relationships with their stakeholders.
Click on the following for a summary of the panel discussions that went on during the conference: