Introduction to Internal Audit

Given the complex and volatile economic and industry environment, the role of the internal auditor is changing and expectations of internal audit by bank examiners, external auditors, management, and stakeholders are increasing. This program will discuss the definition of internal audit and the evolving role of the internal audit function within organizations.

Wednesday, May 15th, 2024
11:00 am - 12:30 pm
3 Presenters
$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Accounting/Reporting
  • Auditing
  • Deposit
  • Management/Employee Development
  • Risk Management/Legal
  • Controller/Accountant
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • Risk Manager
  • Senior Management
  • Training Manager
  • Trainer

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This session will identify and define risk and internal control concepts including an activity to re-enforce the concepts. The session will conclude with a high-level overview of the Internal Audit Process including relevant terminology to help prepare attendees for engaging with an internal audit function.

What You'll Learn

  • Internal Audit Profession
    • Definition of Internal Audit
    • Evolving Role of Internal Audit
    • New 2024 Global Internal Audit Standards
    • Difference between Internal Audit and External (Financial Statement) Audit
    • FFIEC Interagency Policy Statement on the Internal Audit and Function and Co-Sourcing
    • Maintaining FDICIA and SOX Compliance
  • Risk and Internal Control Concepts
    • Risk Identification and Mitigation Concepts
    • Types of Internal Controls
    • Cost/Benefit and Reasonable Assurance of Internal Controls
  • The Internal Audit Process and Terminology
    • Risk Assessment
    • Internal Audit Planning
    • Internal Audit Performance
    • Internal Audit Findings and Reporting

Who Should Attend

Bank professionals seeking knowledge of internal audit and/or internal controls, including internal auditors, deposit and operations personnel, accountants, management, and individuals with previous internal audit education seeking a refresher course.

Matthew Suhovsky

Instructor Bio

As a Senior Manager in the Financial Services Risk Consulting practice, Matthew Suhovsky is responsible for managing full scope and co-sourced internal audits, Sarbanes-Oxley Section 404, and annual risk assessment engagements. His clients have ranged from small community banks to large, multi-billion dollar, multinational financial institutions. He has led and executed Quality Assurance Reviews for financial institutions.

Matthew has over ten years of experience providing internal audit consulting work, as well as engagement management oversight. Matthew is responsible for leading engagement teams and working closely with client leadership. He assists clients in internal audit through project management, reporting to audit committees, department planning, oversight of staff, project scoping, risk assessments, testing design and/or effectiveness of controls, remediation plans, reporting, follow-up, and building client relationships.

Laura Blakeney

Instructor Bio

As the Internal Audit Methodology Leader, Laura Blakeney is responsible for maintaining and developing the firm’s evolving Internal Audit Methodology. In addition to methodology development and maintenance, Laura is responsible for maintaining internal audit program content within our proprietary internal audit platform and assisting with training and onboarding activities related to internal audit processes, methodology, and systems.

In September 2017, Laura transitioned from an external client-facing role to an internal client-facing role. Laura rejoined Crowe Horwath LLP in April 2014 in the Risk Consulting’s group after her previous employment with the firm from September 2008 to July 2011. Prior to stepping into the Internal Audit Methodology and Knowledge Management role, Laura provided internal audit services for approximately nine years and focused primarily on the financial services industry. She has worked with clients ranging in size from community banks and credit unions to large diversified financial institutions. Laura’s client responsibilities included managing annual audit plans, overseeing audit engagements, and planning and reporting on internal audit engagements to senior management.

Brett Walitt

Instructor Bio

As a Manager in the Financial Services Risk Consulting practice, Brett has extensive internal audit and risk / controls consulting experience in a variety of areas. Brett’s areas of expertise include Asset Management (e.g., Registered Investment Advisers), Investments, Capital Markets, Derivatives, Third Party Risk Management and FX Operations. Brett has experience working at top 10 global banks, in a variety of roles, most recently being Internal Audit staff augmentation.

Brett has worked for several of the top 10 global banks in various internal audit leadership roles. He has been the audit lead for audit projects that spread across trading functions, global fee billing, portfolio management, ESG framework and governance, cash deck, and fixed income trading. Products that were including in these projects included, separately managed accounts, self-directed brokerage, money markets, active fixed income, active equity, and fund of funds.  Brett has experience with identifying key control deficiencies, remediation, and working with management to guide them on key control implementation. He has extensive SOX experience, which includes preparing testing procedures, testing the controls, reporting on the results, all done in par with the internal audits he was leading to eliminate any duplication of efforts. Other financial services experience includes reporting on validation issues or the Global Markets business segments (i.e. Credit, Rates,  Structure Notes, Currency products, structured notes, futures and options, clearing risk management and non-financial products).