Internal Audit and the Ethical Compass

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1 Internal Audit and the Ethical Compass ACCA UK s annual internal audit conference Wednesday 17 May 2017

The issue The speakers ACCA UK s annual internal audit conference Internal Audit and the Ethical Compass Wednesday 17 May 2017 09:30 16:30 The Amba Hotel Marble Arch, London Cost: 209 Discounts: Book

2 The issue The speakers ACCA UK s annual internal audit conference Internal Audit and the Ethical Compass Wednesday 17 May :30 16:30 The Amba Hotel Marble Arch, London Cost: 209 Discounts: Book on or before Friday 28 April 2017 and save 20 by paying 189 per delegate Every internal auditor has faced pressure to amend or even bury findings to provide a favourable picture from within the organization sometimes from within the Internal Audit department itself. This has to be seen in the context of a wider cultural debate but this conference will focus on the internal auditor as a contributor to the ethical conscience of the organisation and to an extreme as a whistle-blower. This conference will provide reassurance that any given internal auditor is not alone in facing such pressures, as well as provide information on how to get help to deal with the pressure. There will be a number of different considerations as to how an internal auditor deals with an ethical situation with the most extreme option of becoming a whistle-blower. What should an internal auditor do if he/she is side-lined out of an organisation for trying to report wrong-doing walk away or whistleblow? The conference will also touch on life after whistle-blowing if the most extreme option has to be taken. The impact on the business will also be covered. Associate Director, Institute of Business Ethics Director of Safer Communities, Department of Justice for Northern Ireland Head of Internal Audit, Northern Ireland Department of Justice Executive Director - Finance and Operations, ACCA Jo Iwasaki Head of Corporate Governance, ACCA

3 The programme Chair s details Registration with refreshments Chair s introduction Sarah Pumfrett Keynote session: Corporate culture a new frontier Governance of the audit team and audit committee Refreshment Break How to deal with ethical situations Lunch Q&A panel discussion How ACCA supports its members Refreshment Break When should an internal auditor blow the whistle? Jo Iwasaki and guest speaker Chair s closing remarks Close Sarah Pumfrett is a chartered certified accountant, chartered internal auditor and specialist member of the Institute of Risk Management. She found internal audit through a chance role with Aberdeenshire Council where she was involved in audits of commercial operations, education, consumer protection, environmental health, planning, social work, and investigations. She spent years in the oil industry working globally on a combination of upstream, midstream, downstream, multi-venture, IT and corporate audits before moving to a specialist internal audit data analytics role remotely supporting front line auditors and investigators. Taking a leap of faith to make the transition to practice, she currently heads up the Business Risk Assurance function (covering risk enablement through to outsourced internal audit) for Johnston Carmichael, Scotland s largest independent firm of Chartered Accountants and Business Advisors. She served on the Aberdeen Members Network Panel from 2006 to 2015 (Chair from 2013); and ACCA s Internal Audit Members Network from 2012, taking on the role of vice chair 2014 to 2015 and again in 2016.

4 Session details KEYNOTE SESSION: CORPORATE CULTURE A NEW FRONTIER Corporate culture is the new frontier in governance. As they respond to the need to regain public trust, boards must learn to define and shape behaviour within their organisation and understand its social impact or risk losing the licence to operate. This means moving away from the inward-looking process-driven approach which has characterised governance up till now towards a more outward looking engaged approach. Internal audit will have an important, if somewhat different role to play. GOVERNANCE OF THE AUDIT TEAM AND AUDIT COMMITTEE The primary purpose of an audit committee is to provide oversight of the financial reporting process, the audit process, the system of internal controls and compliance with laws and regulations. Whilst the Chair of the Audit Committee is responsible for the effective functioning of that Committee, the Head of the Internal Audit service occupies a critical position in helping the organisation achieve its objectives by giving assurance on its internal control arrangements and playing a key role in promoting good corporate governance. It is therefore essential that the relationship between the Chair and the Head of Internal Audit have the appropriate skills to ensure that the relationship is right. The aim of this session will be to explore that relationship. HOW TO DEAL WITH ETHICAL SITUATIONS This session will focus on the pressures and ethical dilemmas faced by Internal Auditors for simply doing their job well and with professional integrity. The session will prompt you to assess your own professional integrity when faced with a range of common scenarios. A number of case studies where internal auditors were required to display courage when sticking to their guns under severe pressure will also be highlighted. Finally Derek will draw on his own professional experience when faced with a serious situation requiring resolve and courage. Was he heroic or not? All will be revealed. HOW ACCA SUPPORTS ITS MEMBERS, Executive Director of Finance and Operations at ACCA will provide insight into ACCA s position on dealing with ethical situations and whistle-blowing. This session will also cover how ACCA as an organisation supports its members and the resources that are available to you. WHEN SHOULD AN INTERNAL AUDITOR BLOW THE WHISTLE? Jo Iwasaki and guest speaker Bank employees were resigning before the financial crisis because of what they were witnessing if they had blown the whistle then might the crisis have been averted? The legislation has changed now such that those in financial services are obligated to tell the financial regulators of wrong doing but for industries that are not regulated in that way, there is still an ethical obligation because of ACCA s code of ethics. In this session Jo and a guest speaker will reflect on individual experiences and whether anything would have been done differently if the new legislation had been in place at the time. At what point are you obligated to take action?

5 Speaker details Head of Internal Audit, Northern Ireland Department of Justice is the Head of Internal Audit in the Northern Ireland Department of Justice, who audit many aspects of the Northern Ireland justice system including Courts, Prisons, Legal Aid, Youth Justice and Forensic Science. Derek has over 25 years experience within Internal Audit and is also an associate trainer for CIPFA and an accredited lecturer at Ulster University. He is a Board Member of Young Enterprise NI where he assists sixth form students in setting up and running their own companies for a year. Director of Safer Communities, Department of Justice for Northern Ireland is the Director of Safer Communities for the Northern Ireland Department of Justice. He is responsible for the resourcing, policy and legislative framework for policing, security and community safety within Northern Ireland. Before taking up his current role Anthony spent three years as the Director of Justice Delivery within the Department of Justice and prior to that he spent three years as Director of Resources for the Northern Ireland Office. He also worked for just over five years as a Senior Assistant Director of Public Prosecutions designing and implementing the new Public Prosecution Service for Northern Ireland. Prior to joining the Civil Service he worked within the Northern Ireland Health Service for almost 15 years in a range Director Post s covering areas such as Finance, Planning, HR, ICT, Estates and Contracting, in a range of various health bodies, including the Ambulance Service, Primary Care and Acute Hospital Trusts. He is a Board member of a number of voluntary and community based organisations and has been the Chair of numerous Audit and Risk Committees, including Threshold (NI), a mental health charity for young people. Anthony was the Chairman of the UK Consultative Committee of Accountancy Bodies (CCAB) in 2013/14 and ACCA s Global President in 2014/15. Jo Iwasaki Head of Corporate Governance, ACCA As Head of Corporate Governance within the Professional Insights team of ACCA, Jo has published on a wide range of corporate governance topics, including governance principles, board responsibilities, and diversity. She has lectured in front of various audiences, including directors, academics, and students. A qualified accountant, she is trained in tax and audit. In addition to corporate governance, she also has extensive experience in auditing and assurance. Executive Director Finance and Operations, ACCA joined ACCA in January 2013 as our Executive Director - finance and operations. He is a former executive director of Scottish Power Energy Retail, where he also held posts including sales and marketing director and business transformation director. Raymond began his career at Coopers & Lybrand (now PwC), where he spent 12 years largely specialising in corporate finance, recovery and consulting. A chartered accountant, he also has a degree in accountancy and a Master s degree from the University of Cambridge. Associate Director, Institute of Business Ethics is Associate Director of the Institute of Business Ethics. He also serves as a member of the corporate governance advisory board of the Norges Bank Investment Management, as well as on the Board of the Hawkamah Institute, Dubai, and as a visiting professor at the Cass Business School. He was recently elected to an expert committee formed by Sika AG in Switzerland to monitor related party issues connected with the hostile bid for that company by St Gobain. Previously he held senior governancerelated positions at the Association of British Insurers and the Financial Reporting Council. As a journalist at the Financial Times for two decades his assignments included Head of the Lex Column, Asia Editor and Capital Markets Editor. He is a past chairman of the International Corporate Governance network and was a member of the European Corporate Governance Forum from 2006 to For the IBE he has published reports on Ethics Risk and Governance, on Ethical Challenges facing Pension Fund Trustees, and on Checking Culture: a new role for internal audit. He writes regularly for trade and business publications and is a frequent public speaker.

6 Booking form ACCA UK s Annual Internal Audit Conference Internal Audit and the Ethical Compass Please visit: to register and book online. Alternatively, please complete the booking form using BLOCK CAPITALS throughout. If you wish to book more than one delegate, please photocopy this form. Please book a place on the Internal Audit Conference Internal Audit and the Ethical Compass INVOICE TO For the attention of: Mr/Mrs/Miss/Other (please specify) First name Surname Organisation Address Post code TERMS AND CONDITIONS For full terms and conditions, please visit: accaglobal.com/content/dam/members-beta/docs/ events/uk/terms-and-conditions.pdf JOINING INSTRUCTIONS Joining instructions are usually sent at least five working days before the start of an event. If you have not received your joining instructions three days prior to the event, please call the Professional Courses team on ACCA will not be held responsible for non-receipt of joining instructions and refunds will not be issued under such cirmcumstances. PAYMENT METHOD (tick as appropriate) Please note, ACCA courses run by CAET are VAT exempt. I enclose a cheque (made payable to CAET) for Is this a home address? Tel no. VAT reg. no. business address? Fax no. Please charge to my: Mastercard Visa Amex Maestro Visa Debit Please note that card transactions are processed by Worldpay on behalf of the Certified Accountants Educational Trust. Name of cardholder DELEGATE DETAILS Membership no. (if applicable) Cardholder s address Are you an ACCA? FCCA? (Please note these letters will appear on joining instructions and the delegate list) Post code Additional designatory letters Mr/Mrs/Miss/Other (please specify) First name Surname Cardholder s Card no. Issue no. Start date Expiry date Tel no. Mobile no. Correspondence address Please invoice The purchase order number/reference is: I have read and accept the terms and conditions Signature Post code Is this a home address? business address? PREFERRED METHOD OF COMMUNICATION Post SPECIAL DIETARY REQUIREMENTS (tick as appropriate) Vegetarian Other (please specify) Date Please return this form to: CAET, Professional Courses, ACCA, The Adelphi, 1 11 John Adam Street, London WC2N 6AU professionalcourses@accaglobal.com VAT Registration number: GB

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