Internal Audit at the University of Cambridge.

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Internal Audit at the University of Cambridge."

Transcription

1 Internal Audit at the University of Cambridge.

2 Contents Introduction to Deloitte 1 Our team 2 What is Internal Audit? 4 Our approach to Internal Audit 5 Authority and reporting lines 7 Planning 8 Ad Hoc Requests 9 Reporting and Follow up 10 Contact details 11

3 Introduction to Deloitte Deloitte has been appointed to provide outsourced Internal Audit services to the University of Cambridge from 1 January Deloitte is one of the Big Four accounting firms and has a long standing association with the University of Cambridge, including as its external auditor. Our relationship with the university is headed overall by Stuart Henderson, a senior partner in Deloitte s Cambridge office. The internal audit service, on which the remainder of this guide focuses, is led by Kirsty Searles, a Cambridge alumni and partner leading internal audit and risk services to major organisations across the UK. Your Head of Audit for the delivery of the contract is Richard Evans, who leads our Internal Audit services to Higher Education across the UK. This guide sets out the service that we provide to the University, and the respective roles and responsibilities of our team and of management. The information included in this guide is intended to assist with the smooth delivery of our service. Please contact us if you would like to discuss any of the information included. University of Cambridge 1

4 Our team University of Cambridge 2

5 Kirsty Searles Engagement Partner As Engagement Partner, Kirsty has overall responsibility for the delivery of our services to you. Kirsty s role is to ensure the overall quality of our service delivery and she meets with management regularly to discuss Deloitte activities and provide guidance, ideas and our experiences of working with other organisations Kirsty s role includes: Oversight of the audit planning process; Oversight of the scopes of all audit assignments; Attendance at all Audit Committees and quarterly contract review meetings; and Final review of all deliverables. Mike Barber Engagement Partner Maternity From Christmas 2009, Kirsty is on maternity leave, and we have identified Mike Barber to act as Engagement Partner during her absence. During this time, Mike has lead responsibility for our all aspects of our service delivery. Richard Evans Engagement Director As Engagement Director, Richard is your Head of Internal Audit. Richard is responsible for technical development and quality control of the internal audit services we provide. Supervision and monitoring of the contract is through: development of relationships with key University staff; review of all draft reports prior to issue; definition of performance standards and targets for the Contract Audit Manager against which performance can be measured. Such targets reflect the specific requirements of the University; review of performance statements; regular meetings with the Director of Finance and other delegated officers; and client feedback, either via discussions with the contract managers or through meetings with key staff at the University. Richard Neal Engagement Senior Manager Richard works closely with Richard Evans and Mike/Kirsty to ensure that the internal audit services provided are of the highest standard. Richard is also responsible for day-to-day contract management including liaising with the Director of Finance and other delegated officers, and allocating work to ensure the most effective use of resources. He reviews the quality of our audit work in detail and is your immediate point of contact during the course of the contract. This role includes: Establishing relationships with management across the University; Review of audit assignments to ensure compliance with professional standards as set out by the HEFCE Code of Practice and guidance issued by the Auditing Practices Committee, our internal procedures, and that all objectives have been satisfactorily met; Allocating appropriate resources to individual audits to ensure that the best possible results are achieved from each audit; and Close liaison with the Director of Finance and internal clients on any operational issues arising during the course of the audits undertaken. Dan Bonner Audit Manager Dan will support Richard in the management of our service, and in particular will lead on the co-ordination and delivery of school visits. Cliff Breadnam Technology Manager Our IT internal audit team is led by Cliff Breadnam. Cliff is supported by a team of IT internal audit specialists drawn from our dedicated PSIA IT internal audit practice. University of Cambridge 3

6 What is Internal Audit? The Higher Education Funding Council for England requires Higher Education Institutions to have an internal audit function. The Institute of Internal Auditing, in their Standards for Professional Practice of Internal Audit, describes the role of Internal Audit as: An independent, objective assurance and consulting activity designed to add value and improve an organisation s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. We work to provide the Audit Committee with an opinion on risk, control, governance and value for money on an annual basis. To do this we undertake a number of projects based on an agreed plan derived from the some of the key risks to the University. In our work we seek to provide assurance as to the operation of systems whilst also highlighting potential areas for improvement based on best practice and discussions with management, and we are often used to assist in changes to processes. In terms of audit projects, there are a number of different types we may undertake: o Systems audits assessing the control systems in place within a specific area, to support the achievement of the areas objectives; o Compliance audits assessing compliance against an agreed set of standards, e.g. compliance with the Financial Regulations; o Project Management Assurance undertaking work to confirm that projects have appropriate controls in place to help ensure delivery; o Contract audit auditing large scale procurement projects and capital programmes, assessing compliance with best practice; o IT Audit assessing the IT control systems in place, including using specific software to assess the entire IT system, such as looking at system security for the Finance system; o Advisory projects at the request of management we may undertake work to provide advice as to new developments and what impacts the new processes and systems may have upon existing operations; o Thematic Work to be undertaken across a number of departments, identifying areas of good practice and producing an overall report for all areas of the University to learn from. University of Cambridge 4

7 Our approach to Internal Audit We have undertaken an exercise to complete a three year audit plan, which has been agreed by the Audit Committee in July A brief explanation of our approach to delivery (steps four and five) is set out below: Having agreed the Audit Plan, we follow a defined set of procedures: identifying the Audit Sponsor - we agree with University management the name of the Audit Sponsor for each audit. The sponsor should be at Director level, and their role includes agreeing the terms of reference and the draft report and management responses. The identification of an Audit Sponsor has several key advantages. In particular, it raises the profile of our work and subsequent recommendations to senior level, and ensures that our work takes account of risks and concerns at all levels. planning the scope - we discuss with University management and the Audit Committee the scope of each assignment to ensure that our understanding of the objectives of the audit agrees with management's and that we are taking all relevant matters, including management and staff concerns, into account. All scopes are reviewed by Mike/Kirsty and Richard (Evans) before they are finalised to ensure appropriate coverage of the area being audited. University of Cambridge 5

8 The content of each audit is developed through discussion with the department/business unit managers and this is then formally documented in the terms of reference for each audit. Systems based auditing - our approach involves the following processes: determining the objectives of the system and documenting the system; identifying the risks by discussion with management, and from our knowledge of the systems in place within the University and elsewhere; identifying possible causes of error for each risk identified; describing and categorising the controls. For each cause of error we identify the controls that prevent the error, by means of a risk evaluation matrix; and audit programmes. Our audit programmes detail the specific procedures, which we use to test the key controls identified in the risk evaluation matrices. Richard (Neal) reviews the detailed plans for each individual audit before fieldwork commences. He agrees target dates for the key stages on each assignment with the audit clients in accordance with the proposed audit protocols. Richard (Neal) monitors the progress of the audit work, to identify areas of potential overrun, for example due to areas of weakness being identified that require more extensive audit testing. In each case, Richard Neal liaises with the Assistant Director of Finance to agree any additional work required and an appropriate time budget. We operate a no surprises approach to our audit. We provide continuous feedback on the results to the Audit Sponsor of our work and any significant recommendations are raised immediately. IT Systems - we confirm our understanding of the important elements of the computer environment in which the computer-based IT systems operate. The principal elements of the computer environment include: the type and location of important computers, networks and service organisations and how these communicate with each other; the general organisation of the processing function, and types of activity performed, e.g. computer operations, systems development and maintenance, control and security functions; and the overall manner in which the processing organisation is managed. University of Cambridge 6

9 Authority and reporting lines The scope of our work is set by the University Audit Committee. This body (made up of both internal and external members) meets six times a year to discuss, among other things, the Internal Audit programme and to review the outputs of our work. The Chair of the Audit Committee reports issues of fundamental importance to the Council. Internal Audit has the right of access to any information/documentation held by the University. A series of regular meetings are also held with senior University staff: Monthly progress meetings take place between the Director of Finance and the Assistant Director of Finance and the Internal Audit Manager and Director. Quarterly update meetings take place between the Registrary, the Director of Finance, the Assistant Registrary, the Internal Audit Manager, Director and Partner. An annual liaison meeting is held between the Engagement Partner and the Vice-Chancellor. The Engagement Partner also has direct access to the Chair of the Audit Committee, should it be required. Other assurance providers Internal audit operates as part of a suite of assurance providers to you. At Deloitte we aim to ensure that your assurance providers adopt a joined up approach to risk and assurance. We already know your external audit provider, PWC, through working with them for a number of years at other institutions. As part of our work for the 2010/11 programme, we have met with the external auditors to agree a process for ongoing liaison, and will continue to do so regularly to discuss the plan and share the results of our work. In doing so we aim to minimise areas of duplicate assurance and identify potential areas where external audit may rely on our work. In these areas we work with external audit to structure our work, including documentation, specific tests and sample sizes, to meet their needs where practical. University of Cambridge 7

10 Planning When will I be audited? Our work plan for the year is defined in the annual internal audit plan which is approved by the Audit Committee. The plan is designed to ensure that all University departments participate in some form of audit over the course of our three year cycle. Most departments have contact with our team on more than one occasion over a three year period. At the beginning of the academic year, officers in the Secretariat notify senior management in the areas scheduled for audit that they have been included in the annual audit plan. At this point the Secretariat is able to advise the term in which the audit is scheduled to take place. Where possible, we ensure that the timing of our audit assignment is convenient to you. Who is involved? The Head/Chair of the Department/Faculty/Institution/Division takes overall responsibility for the audit (known as the audit sponsor). Daily liaison with our team may be delegated to another staff member but as a minimum, the Head/Chair is required to formally agree the scope of the work, attend key meetings and provide written management responses to the draft audit report. We agree a draft timetable with you, setting out: - The specific risk areas for review - The people we may need to meet with - How we will address any particular concerns you may have - Expected key dates for the audit, including completion and issue of our draft report. Prior to the start of each term, we contact senior management to finalise the exact timing and undertake a planning and scoping meeting. Scoping meetings are held at least three weeks prior to the start of an audit. University of Cambridge 8

11 Ad Hoc Requests Reasons for Additional Work As referred to above, there are a number of different types of Internal Audit work which are completed as part of the Annual Plan. Although we determine the coverage based on a number of requirements, we also include an element of our work programme for ad hoc requests for Internal Audit involvement. Making Requests Should you wish to request a specific Internal Audit into an area or Internal Audit involvement, please contact the Assistant Director of Finance or Engagement Director to discuss. There are a number of reasons for request for additional audit work, for example: Advice on risk and control in respect of project work, either in providing assurance around project management arrangements or attending project boards; Advice on risk and control in relation to new developments in systems and processes, where it is useful to obtain an independent perspective on the implications on system changes; Internal audit work into areas which are highlighted as a potential concern by officers and/or management; and Consideration of benchmarking exercises with other relevant organisations. University of Cambridge 9

12 Reporting and Follow Up Draft report Our draft report is sent to the audit sponsor (Head/Chair of Department/Faculty/Institution/Division). The report is issued within 15 working days of the closing meeting held at the end of the audit. We require formal written responses and clarification of the accuracy of our findings as well as an action plan, including responsibilities for action, and timescales. Responses are required within 15 working days of receipt of the draft report. Ratings of individual recommendations Each recommendation is graded as Priority 1, 2, 3 or 4. This defines the importance of the recommendation. Priority 1 recommendations are those which are fundamental to the University, for the attention of senior management and the audit committee; The opinion The opinion we give in our report summarises our overall view of the design of the controls for the audit area and how well those controls are functioning. Our opinion, i.e. the level of assurance that we are able to provide on the adequacy and effectiveness of controls, is also graded as full, substantial, limited or nil. Final Report This is a formal record of the findings and recommendations from the audit, including management responses. The final report is issued within 10 working days of receipt of management responses. It is agreed with the Audit Sponsor and is presented to the Audit Committee. Follow Up The recommendations are revisited after the audit, to ensure that agreed actions have been undertaken. Priority 2 recommendations are those which are fundamental to the area subject to audit, for the attention of senior management and the audit committee; Priority 3 recommendations are those which are important to the area subject to audit, to be addressed by management within that area. Priority 4 recommendations are administrative issues, either from a best practice perspective or to address minor non compliance with existing control systems. University of Cambridge 10

13 Contact Details Kirsty Searles 2 New Street Square London EC4A 3BZ Tel: Mike Barber New Street Square London EC4A 3BZ Tel: Richard Evans 2 New Street Square London EC4A 3BZ Tel: Richard Neal 3 Victoria Square Victoria Street St Albans Herts, AL1 3TF Tel: Dan Bonner 3 Victoria Square Victoria Street St Albans Herts, AL1 3TF Tel: Cliff Breadnam 3 Victoria Square Victoria Street St Albans Herts, AL1 3TF Tel: University of Cambridge 11

14 This document is confidential and prepared solely for your information. Therefore you should not, without our prior written consent, refer to or use our name or this document for any other purpose, disclose them or refer to them in any prospectus or other document, or make them available or communicate them to any other party. No other party is entitled to rely on our document for any purpose whatsoever and thus we accept no liability to any other party who is shown or gains access to this document. Deloitte & Touche Public Sector Internal Audit Limited. Registered in England & Wales with registered number Registered office: Hill House, 1 Little New Street, London EC4A 3TR, United Kingdom. Deloitte Public Sector Internal Audit Limited is a subsidiary of Deloitte LLP, which is the United Kingdom member firm of Deloitte Touche Tohmatsu ( DTT ), a Swiss Verein, whose member firms are legally separate and independent legal entities. Please see for a detailed description of the legal structure of DTT and its member firms Deloitte Public Sector Internal Audit Limited. Private and confidential University of Cambridge 12

SOUTH NORTHAMPTONSHIRE COUNCIL. 11/31 ICT Capacity Management FINAL REPORT. June 2011

SOUTH NORTHAMPTONSHIRE COUNCIL. 11/31 ICT Capacity Management FINAL REPORT. June 2011 SOUTH NORTHAMPTONSHIRE COUNCIL 11/31 ICT Capacity Management FINAL REPORT June 2011 This report and the work connected therewith are subject to the Terms and Conditions of the contract dated 18/06/07,

More information

Charity Audit Committee performance evaluation Self assessment checklist. October 2014

Charity Audit Committee performance evaluation Self assessment checklist. October 2014 Charity Audit Committee performance evaluation Self assessment checklist October 2014 With increasing responsibilities and complexities, being a member of the Audit Committee has never been more challenging

More information

The University s responsibilities and its arrangements for internal audit Internal audit protocol 2014/15 to 2016/17

The University s responsibilities and its arrangements for internal audit Internal audit protocol 2014/15 to 2016/17 The University s responsibilities and its arrangements for internal audit Internal audit protocol 2014/15 to 2016/17 Summary This paper sets out the University s current obligations and arrangements for

More information

Coleg Gwent Internal Audit Report 2012/13 Assets and Inventory. Assurance Rating:

Coleg Gwent Internal Audit Report 2012/13 Assets and Inventory. Assurance Rating: Coleg Gwent Internal Audit Report 2012/13 Assets and Inventory Assurance Rating: Distribution List: Draft Report: Principal Vice Principal, (Finance, Estates and Information Services) Clerk to the Corporation

More information

Dacorum Borough Council Final Internal Audit Report

Dacorum Borough Council Final Internal Audit Report Dacorum Borough Council Final Internal Audit Report ICT Change Management Distribution list: Chris Gordon Group Manager Neil Telkman - Information, Security and Standards Officer Gary Osler ICT Service

More information

Item 10 Appendix 1d Final Internal Audit Report Performance Management Greater London Authority April 2010

Item 10 Appendix 1d Final Internal Audit Report Performance Management Greater London Authority April 2010 Item 10 Appendix 1d Final Internal Audit Report Performance Management Greater London Authority April 2010 This report has been prepared on the basis of the limitations set out on page 16. Contents Page

More information

Coleg Gwent Internal Audit Report 2014/15 Staff Performance Management. Assurance Rating:

Coleg Gwent Internal Audit Report 2014/15 Staff Performance Management. Assurance Rating: Coleg Gwent Internal Audit Report 2014/15 Staff Performance Management Assurance Rating: Distribution List: Final Report Audit Committee Principal Vice Principal, (Resources and Financial Planning)/Director

More information

Cheshire Fire Authority

Cheshire Fire Authority Cheshire Fire Authority Internal Plan 2013/2014 Presented at the Cheshire Fire Authority meeting of: 17 April 2013 Lisa Randall Head of Internal 1 INTRODUCTION This document sets out the approach we have

More information

Dacorum Borough Council Final Internal Audit Report. IT Business Continuity and Disaster Recovery

Dacorum Borough Council Final Internal Audit Report. IT Business Continuity and Disaster Recovery Dacorum Borough Council Final Internal Audit Report IT Business Continuity and Disaster Recovery Distribution list: Chris Gordon Group Manager Performance, Policy and Projects John Worts ICT Team Leader

More information

January 2015. Senior Insurance Managers Regime Strengthening accountability in insurance

January 2015. Senior Insurance Managers Regime Strengthening accountability in insurance January 2015 Senior Insurance Managers Regime Strengthening accountability in insurance Contents Introduction 1 Key points 2 Implementing Solvency II 3 Implications for Non Executive Directors 4 Practical

More information

Draft Internal Audit Report Software Licensing Audit. December 2009

Draft Internal Audit Report Software Licensing Audit. December 2009 Draft Internal Audit Report Software Licensing Audit December 2009 Contents Page Executive Summary 3 Observations and Recommendations 6 Appendix 1 Audit Framework 9 Appendix 2 - Staff Interviewed 10 Statement

More information

Report 7 Appendix 1d Final Internal Audit Report Sundry Income and Debtors (inc. Fees and Charges) Greater London Authority February 2010

Report 7 Appendix 1d Final Internal Audit Report Sundry Income and Debtors (inc. Fees and Charges) Greater London Authority February 2010 Report 7 Appendix 1d Final Internal Audit Report Sundry Income and Debtors (inc. Fees and Charges) Greater London Authority February 2010 This report has been prepared on the basis of the limitations set

More information

The Internal Audit fraud challenge Prevention, protection, detection

The Internal Audit fraud challenge Prevention, protection, detection The Internal Audit fraud challenge Prevention, protection, detection Contents Introduction to survey 1 Key findings 2 What are the views of senior management? 3 Adequately resourced? 6 Current trends and

More information

Deloitte. Summary of the Independent Expert review of proposed amendments to Standard Life Scheme of Demutualisation.

Deloitte. Summary of the Independent Expert review of proposed amendments to Standard Life Scheme of Demutualisation. Deloitte. Summary of the Independent Expert review of proposed amendments to Standard Life Scheme of Demutualisation 27 April 216 ( Introduction The purpose of this document is to provide policyholders,

More information

Report 6c. Final Internal Audit Report Network and Communications. April 2008

Report 6c. Final Internal Audit Report Network and Communications. April 2008 Report 6c Final Internal Audit Report Network and Communications April 2008 Contents Page Executive Summary 3 Observations and Recommendations 4 Appendix 2 - Staff Interviewed 14 Appendix 3 Benchmark Results

More information

A guide to investing. Appendix 12 Checklist of items to consider when planning a project

A guide to investing. Appendix 12 Checklist of items to consider when planning a project A guide to investing in Wales Appendix 12 Checklist of items to consider when planning a project August 2013 Appendix 12 Checklist of items to consider when planning a project Early in the evolution of

More information

Avon & Somerset Police Authority

Avon & Somerset Police Authority Avon & Somerset Police Authority Internal Audit Report IT Service Desk FINAL REPORT Report Version: Date: Draft to Management: 19 February 2010 Management Response: 12 May 2010 Final: 13 May 2010 Distribution:

More information

Governance in brief BIS and the FRC consult on options for UK implementation of the EU Audit Directive & Regulation

Governance in brief BIS and the FRC consult on options for UK implementation of the EU Audit Directive & Regulation January 2015 Governance in brief BIS and the FRC consult on options for UK implementation of the EU Audit Directive & Regulation Headlines The UK will take the option to extend the mandatory auditor rotation

More information

Business Planning & Budgetary Control 2012/13

Business Planning & Budgetary Control 2012/13 Cymdeithas Tai Cantref Cyf Final Internal Audit Report Business Planning & Budgetary Control 2012/13 Date of fieldwork: October November 2012 Date of draft report: November 2012 Date of final report: November

More information

BEPS Action 13: Transfer Pricing Documentation and Country-by-Country Reporting

BEPS Action 13: Transfer Pricing Documentation and Country-by-Country Reporting United Kingdom BEPS Action 13: Transfer Pricing Documentation and Country-by-Country Reporting On 16 September 2014, ahead of the G20 Finance Ministers meeting on 20-21 September, the OECD published seven

More information

Coleg Gwent Internal Audit Report 2012/13 Payroll and HR. Assurance Rating: Payroll

Coleg Gwent Internal Audit Report 2012/13 Payroll and HR. Assurance Rating: Payroll Coleg Gwent Internal Audit Report 2012/13 Payroll and HR Assurance Rating: Payroll HR Distribution List: Final Report Audit Committee Principal Vice Principal, (Finance, Estates and Information Services)

More information

Sunderland City Council Review of Internal Audit June 2013

Sunderland City Council Review of Internal Audit June 2013 June 2013 Contents Introduction 2 Our approach 3 Main conclusions 4 Detailed findings 5 Our reports are prepared in the context of the Audit Commission s Statement of responsibilities of auditors and audited

More information

Building the intelligent client PPM is the new ERP

Building the intelligent client PPM is the new ERP Building the intelligent client PPM is the new ERP Louisa Arundale (Deloitte), David Judge (Oracle) and Hayley Speller (Deloitte) Infrastructure and Capital Projects 1 October 2014 $46 trillion By 2030

More information

Keeping sight of your business Hot topics facing Financial Services organisations in IT Internal Audit

Keeping sight of your business Hot topics facing Financial Services organisations in IT Internal Audit Keeping sight of your business Hot topics facing Financial Services organisations in IT Internal Audit 2014 Welcome to our third annual review of the IT hot topics facing Internal Audit functions within

More information

Appendix 6c. Final Internal Audit Report Disaster Recovery Planning. June 2007. Report 6c Page 1 of 15

Appendix 6c. Final Internal Audit Report Disaster Recovery Planning. June 2007. Report 6c Page 1 of 15 Appendix 6c Final Internal Audit Report Disaster Recovery Planning June 2007 Report 6c Page 1 of 15 Contents Page Executive Summary 3 Observations and Recommendations 8 Appendix 1 - Audit Framework 13

More information

South Northamptonshire Council

South Northamptonshire Council South Northamptonshire Council Windows Active Directory Final Internal Audit Report - September Distribution list: Mike Shaw IT & Customer Services Manager David Price Director of Community Engagement

More information

A guide to investing. Appendix 10 Choice of business entity

A guide to investing. Appendix 10 Choice of business entity A guide to investing in Wales Appendix 10 Choice of business entity August 2013 Appendix 10 Choice of business entity 1. Principal forms of doing business Business organisations in the UK usually take

More information

The enhanced auditor s report bulletin 1 A review of the first reports for early adopters

The enhanced auditor s report bulletin 1 A review of the first reports for early adopters The enhanced auditor s report bulletin 1 A review of the first reports for early adopters Background The new requirements of ISA (UK & Ireland) 700 The auditor s report on financial statements apply for

More information

Guidance for audit committees. The internal audit function

Guidance for audit committees. The internal audit function Guidance for audit committees The internal audit function March 2004 The Combined Code on Corporate Governance July 2003 C.3 Audit Committee and Auditors Main Principle: The board should establish formal

More information

Growth by acquisition.

Growth by acquisition. Forward thinking Growth by acquisition. A practical guide for owner-managed businesses Acquisitions can be an excellent means of enhancing shareholder value in a privately owned business. However, selecting

More information

Under control 2015 Hot topics for IT internal audit in financial services. An Internal Audit viewpoint

Under control 2015 Hot topics for IT internal audit in financial services. An Internal Audit viewpoint Under control 2015 Hot topics for IT internal audit in financial services An Internal Audit viewpoint Introduction Welcome to our fourth annual review of the IT hot topics for IT internal audit in financial

More information

States of Jersey Comptroller & Auditor General

States of Jersey Comptroller & Auditor General States of Jersey Comptroller & Auditor General Code of Audit Practice (Prepared under Article 18 of the Comptroller and Auditor General (Jersey) Law 2014) 28 November 2014 Foreword Independent external

More information

Need to know Financial Reporting Council issues FRS 103 Insurance Contracts

Need to know Financial Reporting Council issues FRS 103 Insurance Contracts ukgaap: Beyond the detail Need to know Financial Reporting Council issues FRS 103 Insurance Contracts In a nutshell The Financial Reporting Council (FRC) has issued FRS 103 Insurance Contracts. The standard

More information

Managing Complex Transformations Achieving excellence

Managing Complex Transformations Achieving excellence Managing Complex Transformations Achieving excellence A summary of our transformation management and programme leadership capability in the mining industry February 2009 Contents Introduction 1 Our approach

More information

The Learning Zone - Project Management Arrangements

The Learning Zone - Project Management Arrangements Coleg Gwent Internal Audit Report () 6 June 2012 Overall Opinion The Learning Zone - Project Management Arrangements CONTENTS Section Page Executive Summary 1 Action Plan 4 Findings and Recommendations

More information

SCRUTINY COMMITTEE ITEM 04 28 MARCH 2012

SCRUTINY COMMITTEE ITEM 04 28 MARCH 2012 SCRUTINY COMMITTEE ITEM 04 28 MARCH 2012 INTERNAL AUDIT PLAN Report of the: Director of Finance Contact: John Turnbull or Gillian McTaggart Urgent Decision?(yes/no) No If yes, reason urgent decision required:

More information

Your guide Directors remuneration in FTSE 250 companies. The Deloitte Academy: promoting excellence in the boardroom October 2015

Your guide Directors remuneration in FTSE 250 companies. The Deloitte Academy: promoting excellence in the boardroom October 2015 Your guide Directors remuneration in FTSE 250 companies The Deloitte Academy: promoting excellence in the boardroom October 2015 Overview from Mitul Shah 2015 is the second year in which UK companies have

More information

Aberdeen City Council IT Security (Network and perimeter)

Aberdeen City Council IT Security (Network and perimeter) Aberdeen City Council IT Security (Network and perimeter) Internal Audit Report 2014/2015 for Aberdeen City Council August 2014 Internal Audit KPIs Target Dates Actual Dates Red/Amber/Green Commentary

More information

UNSOLICITED PROPOSALS

UNSOLICITED PROPOSALS UNSOLICITED PROPOSALS GUIDE FOR SUBMISSION AND ASSESSMENT January 2012 CONTENTS 1 PREMIER S STATEMENT 3 2 INTRODUCTION 3 3 GUIDING PRINCIPLES 5 3.1 OPTIMISE OUTCOMES 5 3.2 ASSESSMENT CRITERIA 5 3.3 PROBITY

More information

Internal audit service protocol

Internal audit service protocol Internal audit service protocol Introduction This document sets out the process for reporting in accordance with the Operational Internal Audit Plan, which is approved by the Audit Committee annually.

More information

IFRS industry insights

IFRS industry insights IFRS Global Office Issue 2, June 2011 IFRS industry insights Joint arrangements in the energy and resources industry The most significant change will likely be the removal of the option to proportionately

More information

Internal Audit Quality Assessment Framework

Internal Audit Quality Assessment Framework Internal Audit Quality Assessment Framework May 2013 Internal Audit Quality Assessment Framework May 2013 Crown copyright 2013 You may re-use this information (excluding logos) free of charge in any format

More information

Internal Audit Charter. Version 1 (7 November 2013)

Internal Audit Charter. Version 1 (7 November 2013) Version 1 (7 November 2013) CONTENTS Details Page EXECUTIVE SUMMARY... 2 1. BACKGROUND... 3 10. PSIAS REQUIREMENTS... 3 12. DEFINITION OF THE CHIEF AUDIT EXECUTIVE (CAE)... 4 14. DEFINITION OF THE BOARD...

More information

AUDIT AND RISK ASSESSMENT COMMITTEE TERMS OF REFERENCE

AUDIT AND RISK ASSESSMENT COMMITTEE TERMS OF REFERENCE AUDIT AND RISK ASSESSMENT COMMITTEE TERMS OF REFERENCE CONSTITUTION: The Governing Authority has established a Standing Committee of the Governing Authority known as the Audit and Risk Assessment Committee

More information

Addressing Cyber Risk Building robust cyber governance

Addressing Cyber Risk Building robust cyber governance Addressing Cyber Risk Building robust cyber governance Mike Maddison Partner Head of Cyber Risk Services The future of security The business environment is changing The IT environment is changing The cyber

More information

D-G4-L4-126 Police contact management and demand reduction review Deloitte LLP Service for G-Cloud IV

D-G4-L4-126 Police contact management and demand reduction review Deloitte LLP Service for G-Cloud IV D-G4-L4-126 Police contact management and demand reduction review Deloitte LLP Service for G-Cloud IV September 2013 Contents 1 Service Overview 1 2 Detailed Service Description 2 3 Commercials 6 4 Our

More information

IFRS industry insights

IFRS industry insights IFRS Global Office April 2012 IFRS industry insights IASB issues revised exposure draft on revenue recognition insights for the insurance industry The revised ED is the next step in developing an entirely

More information

Information Commissioner's Office

Information Commissioner's Office Information Commissioner's Office IT Procurement Review Ian Falconer Partner T: 0161 953 6480 E: ian.falconer@uk.gt.com Last updated 18 June 2012 Will Simpson Senior Manager T: 0161 953 6486 E: will.g.simpson@uk.gt.com

More information

Report of Don McLure, Corporate Director of Resources

Report of Don McLure, Corporate Director of Resources AUDIT COMMITTEE 29 June 2015 Annual Review of the System of Internal Audit 2014 / 2015 Report of Don McLure, Corporate Director of Resources Purpose of the Report 1. The purpose of this report is for members

More information

Aberdeen City Council

Aberdeen City Council Aberdeen City Council Internal Audit Report Final Contract management arrangements within Social Care & Wellbeing 2013/2014 for Aberdeen City Council January 2014 Internal Audit KPI Targets Target Dates

More information

Information Commissioner's Office

Information Commissioner's Office Information Commissioner's Office Internal Audit 2013-14: Follow up Last updated 4 July 2014 Distribution For action Senior Corporate Governance Manager Timetable Fieldwork completed 21 May 2014 Draft

More information

Performance Management Follow-up Report

Performance Management Follow-up Report Cabinet Part 1 12 December 2006 Item No. 03 Subject Auditor s report: Performance Management Follow-up Report Purpose Author Ward Summary To report to Cabinet the recommendations set out in the Auditor

More information

Worldwide debt cap. The Bad bit of Foreign Profits 10 July 2009 Bill Dodwell

Worldwide debt cap. The Bad bit of Foreign Profits 10 July 2009 Bill Dodwell Worldwide debt cap. The Bad bit of Foreign Profits 10 July 2009 Bill Dodwell Debt Cap WW debt cap - introduction Timeline Overall concept What s in the Finance Bill? Next steps Trailed at PBR2006 and Budget2007,

More information

English UK VAT & Overseas Agents

English UK VAT & Overseas Agents English UK VAT & Overseas Agents Deloitte Contacts Simon Prinn, Partner Tel. 0118 322 2825 Jack Stoakes, Senior Manager Tel. 01293 761249 Charlotte McMillan, Assistant Manager Tel. 01293 761392 July 2012

More information

DATA QUALITY STRATEGY

DATA QUALITY STRATEGY DATA QUALITY STRATEGY If you or anybody you know requires this or any other council information in another language, please contact us and we will do our best to provide this for you. Braille, Audio tape

More information

Our detailed responses to the questions in the invitation to comment are included in the Appendix to this letter.

Our detailed responses to the questions in the invitation to comment are included in the Appendix to this letter. Hans Hoogervorst Chairman International Accounting Standards Board 30 Cannon Street London United Kingdom EC4M 6XH Deloitte Touche Tohmatsu Limited 2 New Street Square London EC4A 3BZ United Kingdom Tel:

More information

Current issues and trends in the Aerospace supply chain

Current issues and trends in the Aerospace supply chain Current issues and trends in the Aerospace supply chain Iain Subtitle Kirwan runs here 1 line max Director Supply Chain Consulting Global A&D insights and trends Overall global A&D industry expected to

More information

COUNCIL POLICY INTERNAL AUDIT

COUNCIL POLICY INTERNAL AUDIT COUNCIL POLICY INTERNAL AUDIT Policy Number: GOV-29 Responsible Department(s): Corporate Services Relevant Delegations: None Other Relevant Policies: Risk Management Policy Fraud & Corruption Prevention

More information

Transforming customer management in the water sector How to become a leader in customer service

Transforming customer management in the water sector How to become a leader in customer service Transforming customer management in the water sector How to become a leader in customer service management strategies have always been important to water companies, with a focus on resolving issues first

More information

Aberdeen City Council IT Asset Management

Aberdeen City Council IT Asset Management Aberdeen City Council IT Asset Management Internal Audit Report 2014/2015 for Aberdeen City Council January 2015 Terms or reference agreed 4 weeks prior to fieldwork Target Dates per agreed Actual Dates

More information

Audit, Risk Management and Compliance Committee Charter

Audit, Risk Management and Compliance Committee Charter Audit, Risk Management and Compliance Committee Charter Woolworths Limited Adopted by the Board on 27 August 2013 page 1 1 Introduction This Charter sets out the responsibilities, structure and composition

More information

Gladstone Ports Corporation Limited

Gladstone Ports Corporation Limited Gladstone Ports Corporation Limited Human Resources Committee Charter #159378v5 Adopted by Board 17/7/07 1 Table of Contents 1. TERMS OF REFERENCE... 3 2. ROLE AND RESPONSIBILITIES... 3 3. RELATIONSHIP

More information

Programme Manager/Procurement Specialist. Suva. Capital Works Manager. As soon as possible. As follows

Programme Manager/Procurement Specialist. Suva. Capital Works Manager. As soon as possible. As follows JOB DESCRIPTION Position: Location of position: Reporting to: Special functional relationships: Term of Appointment: Programme Manager/Procurement Specialist Suva Capital Works Manager Capital Works Programme

More information

Brevan Howard Asset Management LLP Pillar 3 Disclosures. Brevan Howard (2014). All Rights Reserved.

Brevan Howard Asset Management LLP Pillar 3 Disclosures. Brevan Howard (2014). All Rights Reserved. Brevan Howard Asset Management LLP Brevan Howard (2014). All Rights Reserved. Regulatory Context The following disclosures are provided pursuant to the Pillar 3 disclosure rules as laid out by the Financial

More information

Robotic Process Automation Overview and RPA Case Study. November 2015

Robotic Process Automation Overview and RPA Case Study. November 2015 Robotic Process Automation Overview and RPA Case Study November 2015 Big data?! Effective data management?! 2 What is Robotic Process Automation (RPA)? Software! Robots are Robots are not Computer coded

More information

Audit Committee. Directors Report. Gary Hughes Chairman, Audit Committee. Gary Hughes Chairman, Audit Committee

Audit Committee. Directors Report. Gary Hughes Chairman, Audit Committee. Gary Hughes Chairman, Audit Committee Audit Committee Dear Shareholder, We are satisfied that the business has maintained robust risk management and internal controls, supported by strong overall governance processes, and that management have

More information

IFRS industry insights

IFRS industry insights IFRS Global Office Issue 1, April 2012 IFRS industry insights IASB issues a revised exposure draft on revenue recognition insights for the financial services industry The revised ED is the next step in

More information

European Investment Bank. Charter for Internal Audit

European Investment Bank. Charter for Internal Audit June 2013 June 2013 page 1 / 6 June 2013 page 2 / 6 1. Policy Internal Audit is a vital component of the management of the Bank. It helps the Bank by providing independent assurances and by identifying

More information

Audit Quality Thematic Review

Audit Quality Thematic Review Thematic Review Professional discipline Financial Reporting Council 201 Audit Quality Thematic Review Firms audit quality monitoring The FRC is responsible for promoting high quality corporate governance

More information

Internal Audit Strategic and Annual Plans 2015/16

Internal Audit Strategic and Annual Plans 2015/16 Internal Audit Strategic and Annual Plans 2015/16 Financial Scrutiny and Audit Committee 10 February 2015 Agenda Item No 8 Summary: This report provides an overview of the stages followed prior to the

More information

South Northamptonshire Council Contract Assurance: Leisure Contract

South Northamptonshire Council Contract Assurance: Leisure Contract South Northamptonshire Council Contract Assurance: Leisure Contract FINAL Internal Audit Report 2012/2013 January 2013 Contents 1. Executive summary 4 2. Background and scope 5 3. Detailed current year

More information

Complaints Policy and Procedure. Contents. Title: Number: Version: 1.0

Complaints Policy and Procedure. Contents. Title: Number: Version: 1.0 Title: Complaints Policy and Procedure Number: Version: 1.0 Contents 1 Purpose and scope... 2 2 Responsibilities... 2 3 Policy Statement: Aims and Objectives... 4 4 Definition of a complaint... 4 5 Procedure...

More information

A closer look The requirement to include a full listing of related undertakings within annual financial statements

A closer look The requirement to include a full listing of related undertakings within annual financial statements GAAP: Clear vision A closer look The requirement to include a full listing of related undertakings within annual financial statements This change does not alter which entities need to provide such disclosures,

More information

Internal Audit Charter

Internal Audit Charter February 2015 Contacts For general enquiries, please contact: Daryn Wedd General Manager Internal Audit T 9227 0978 E daryn.wedd@asx.com.au Media enquiries, please contact: Ms Kristen Kaus Media and Communications

More information

PROTOCOL FOR CASE CONFERENCES AND CASE REVIEW MEETINGS

PROTOCOL FOR CASE CONFERENCES AND CASE REVIEW MEETINGS PROTOCOL FOR CASE CONFERENCES AND CASE REVIEW MEETINGS Protocol owner: Occupational Health October 2013 CASE CONFERENCES What is a Case Conference? Case conferences usually consist of face to face discussion

More information

MiFID II/MiFIR. Implications for Fund Managers. May 2014. 2014 Deloitte LLP. All rights reserved.

MiFID II/MiFIR. Implications for Fund Managers. May 2014. 2014 Deloitte LLP. All rights reserved. /MiFIR Implications for Fund Managers May 2014 Webinar participants Manmeet Rana Senior Manager Audit Deloitte UK mrana@deloitte.co.uk +44 20 7303 8624 Manmeet Rana is a Senior Manager within Deloitte

More information

Compliance. Group Standard

Compliance. Group Standard Group Standard Compliance Serco is committed to good governance practices and the management of risks supported by a robust business compliance process SMS-GS-G2 Compliance July 2014 v1.0 Serco Public

More information

1.1 Terms of Reference Y P N Comments/Areas for Improvement

1.1 Terms of Reference Y P N Comments/Areas for Improvement 1 Scope of Internal Audit 1.1 Terms of Reference Y P N Comments/Areas for Improvement 1.1.1 Do Terms of Reference: a) Establish the responsibilities and objectives of IA? b) Establish the organisational

More information

august09 tpp 09-05 Internal Audit and Risk Management Policy for the NSW Public Sector OFFICE OF FINANCIAL MANAGEMENT Policy & Guidelines Paper

august09 tpp 09-05 Internal Audit and Risk Management Policy for the NSW Public Sector OFFICE OF FINANCIAL MANAGEMENT Policy & Guidelines Paper august09 09-05 Internal Audit and Risk Management Policy for the NSW Public Sector OFFICE OF FINANCIAL MANAGEMENT Policy & Guidelines Paper Preface Corporate governance - which refers broadly to the processes

More information

Good Practice Guidelines for Appraisal

Good Practice Guidelines for Appraisal Good Practice Guidelines for Appraisal Dr Laurence Mynors Wallis Dr David Fearnley February 2010 1 Contents Page Introduction 3 Link between appraisal and revalidation 4 Preparation for the appraisal meeting

More information

D-G5-L4-285 IT Disputes and Forensic Technology Support Deloitte LLP Service for G-Cloud V

D-G5-L4-285 IT Disputes and Forensic Technology Support Deloitte LLP Service for G-Cloud V D-G5-L4-285 IT Disputes and Forensic Technology Support Deloitte LLP Service for G-Cloud V April 2014 Contents 1 Service Overview 1 2 Detailed Service Description 2 3 Commercials 6 4 Our G-Cloud Services

More information

SOUTH NORTHAMPTONSHIRE COUNCIL 10/11 REMOTE WORKING FINAL REPORT MARCH 2011

SOUTH NORTHAMPTONSHIRE COUNCIL 10/11 REMOTE WORKING FINAL REPORT MARCH 2011 SOUTH NORTHAMPTONSHIRE COUNCIL 10/11 REMOTE WORKING FINAL REPORT MARCH 2011 This report and the work connected therewith are subject to the Terms and Conditions of the contract dated 18/06/07 between South

More information

Internal Audit Charter. June 2016

Internal Audit Charter. June 2016 Internal Audit Charter June 2016 1 Introduction 1.1 The Internal Audit Charter is a formal document that defines Internal Audit s purpose, authority and responsibility. The charter establishes Internal

More information

D-G4-L4-231 Data Governance Assessment Design and Implementation Deloitte LLP Service for G- Cloud IV

D-G4-L4-231 Data Governance Assessment Design and Implementation Deloitte LLP Service for G- Cloud IV D-G4-L4-231 Data Governance Assessment Design and Implementation Deloitte LLP Service for G- Cloud IV September 2013 Contents 1 Service Overview 1 2 Detailed Service Description 4 3 Commercials 8 4 Our

More information

D-G5-L4-304 Indirect Tax elearning Tool Deloitte LLP Service for G-Cloud V

D-G5-L4-304 Indirect Tax elearning Tool Deloitte LLP Service for G-Cloud V D-G5-L4-304 Indirect Tax elearning Tool Deloitte LLP Service for G-Cloud V April 2014 Contents 1 Service Overview 1 2 Detailed Service Description 2 3 Commercials 3 4 Our G-Cloud Services 4 5 About Deloitte

More information

D-G4-L4-235 Supply Chain Analytics Deloitte LLP Service for G- Cloud IV

D-G4-L4-235 Supply Chain Analytics Deloitte LLP Service for G- Cloud IV D-G4-L4-235 Supply Chain Analytics Deloitte LLP Service for G- Cloud IV September 2013 Contents 1 Service Overview 1 2 Detailed Service Description 3 3 Commercials 7 4 Our G-Cloud Services 8 5 About Deloitte

More information

Deloitte Shared Services, GBS & BPO Conference SMAC / Enabling Technologies and Shared Services in the Public Sector

Deloitte Shared Services, GBS & BPO Conference SMAC / Enabling Technologies and Shared Services in the Public Sector Deloitte Shared Services, GBS & BPO Conference SMAC / Enabling Technologies and Shared Services in the Public Sector Carolyn Williamson, Hampshire County Council; David Harker, Deloitte 22 23 September

More information

Exposure Draft Statement of Recommended Practice: Financial Statements of Investment Trust Companies and Venture Capital Trusts

Exposure Draft Statement of Recommended Practice: Financial Statements of Investment Trust Companies and Venture Capital Trusts Deloitte LLP 2 New Street Square London EC4A 3BZ Tel: +44 (0) 20 7936 3000 Fax: +44 (0) 20 7583 1198 www.deloitte.co.uk Direct: 0207 007 0884 Direct fax: 020 7007 0158 vepoole@deloitte.co.uk John Stevens

More information

Audit of Business Continuity Planning

Audit of Business Continuity Planning Cumbria Office of the Police & Crime Commissioner Audit of Business Continuity Planning 0 Cumbria Shared Internal Audit Service Images courtesy of Carlisle City Council except: Parks (Chinese Gardens),

More information

Charities Alert. Which Charities SORP to apply?

Charities Alert. Which Charities SORP to apply? July 2014 Charities Alert. Which Charities SORP to apply? In a nutshell This Alert is for small charities who are small in accordance with Companies Act definitions. Under current UK GAAP, small charities

More information

Statement of responsibilities of auditors and audited bodies: Local authorities, NHS bodies and small authorities.

Statement of responsibilities of auditors and audited bodies: Local authorities, NHS bodies and small authorities. Statement of responsibilities of auditors and audited bodies: Local authorities, NHS bodies and small authorities. 1. This statement serves as the formal terms of engagement between appointed auditors

More information

Cambridgeshire and Peterborough Fire Authority. Internal Audit Progress Report Overview & Scrutiny Committee meeting 16 October 2014

Cambridgeshire and Peterborough Fire Authority. Internal Audit Progress Report Overview & Scrutiny Committee meeting 16 October 2014 Cambridgeshire and Peterborough Fire Authority Internal Audit Progress Report Overview & Scrutiny Committee meeting 16 October 2014 Cambridgeshire & Peterborough Fire Authority 1 Introduction This report

More information

Internal Audit Division

Internal Audit Division Internal Audit Division at the Financial Conduct Authority Information Pack April 2013 Contents of Information Pack A. Introduction B. Internal Audit Terms of Reference C. Organisation D. Skills and Competencies

More information

Contract Management Guideline

Contract Management Guideline www.spb.sa.gov.au Contract Management Guideline Version 3.2 Date Issued January 2014 Review Date January 2014 Principal Contact State Procurement Board Telephone 8226 5001 Contents Overview... 3 Contract

More information

Essex Fire Authority. Fleet Management. Internal Audit Report (4.12/13) 28 February 2013 FINAL. Overall Opinion

Essex Fire Authority. Fleet Management. Internal Audit Report (4.12/13) 28 February 2013 FINAL. Overall Opinion Essex Fire Authority Fleet Management Internal Audit Report (4.12/13) 28 February 2013 FINAL Overall Opinion Essex Fire Authority Fleet Management 4.12/13 CONTENTS Section Page Executive Summary 1 Action

More information

Indirect Tax Conference VAT and Pensions. Alistair Jones & Andrew Dalah Financial Services VAT 14 November 2014

Indirect Tax Conference VAT and Pensions. Alistair Jones & Andrew Dalah Financial Services VAT 14 November 2014 Indirect Tax Conference VAT and Pensions Alistair Jones & Andrew Dalah Financial Services VAT 14 November 2014 Agenda 1. Introduction 2. Liability Wheels ATP Pension Service United Biscuits 3. Employer/Scheme

More information

A guide to investing. Appendix 11 Protecting your business intellectual property rights

A guide to investing. Appendix 11 Protecting your business intellectual property rights A guide to investing in Wales Appendix 11 Protecting your business intellectual property rights August 2013 Appendix 11 Protecting your business intellectual property rights Intellectual property rights

More information

Internal Audit Interim Report 2012/13

Internal Audit Interim Report 2012/13 1 Introduction 1.1 In accordance with the Code of Practice for Internal Audit in Local Government in the United Kingdom, the second Internal Audit Interim Report 2012/13 for Cheshire East contains emerging

More information

Audit Report for South Lakeland District Council. People and Places Directorate Neighbourhood Services. Audit of Grounds Maintenance

Audit Report for South Lakeland District Council. People and Places Directorate Neighbourhood Services. Audit of Grounds Maintenance Audit Report for South Lakeland District Council People and Places Directorate Neighbourhood Services Audit of Grounds Maintenance Cumbria Shared Internal Audit Service: Internal Audit Report 7 th November

More information

Information Commissioner's Office

Information Commissioner's Office Phil Keown Engagement Lead T: 020 7728 2394 E: philip.r.keown@uk.gt.com Will Simpson Associate Director T: 0161 953 6486 E: will.g.simpson@uk.gt.com Information Commissioner's Office Internal Audit 2015-16:

More information