internal audit framework in a mining industry

At Nexia, we don't view internal audit merely as an assurance exercise. We are proactive and look for ways to improve your business. Our approach is not limited by a narrow assurance based focus and we pride ourselves on the added advice and personal attention provided to our clients. It is mainly because they do not want to incur the cost burden of recruiting and training their own in-house internal audit section which can require expertise in a growing range of specialist skills such as IT audit; data mining; data analytics and, (depending on the type of industry and size of the organisation), in depth knowledge of

COSO Framework for Internal Controls, Risk Assessment

Further, the instructor will review the COSO framework for internal controls and provide examples of how to implement the framework. Examples of preventive and detective controls will be illustrated and he will review the importance of internal controls and how they can reduce the time and cost of financial statement audits and reduce the risk

Identify sources of potential engagements (audit universe, audit cycle requirements, management requests, regulatory mandates, relevant market and industry trends, emerging issues, etc.) Basic. B. Identify a risk management framework to assess risks and prioritise audit engagements based on the results of a risk assessment. Basic. C

audit report is written to reflect the company and the situation we investigate. 2.0 This sample document is a construction and is not of a real company. It contains extracts from sections of a range of maintenance audit reports to provide evidence of our maintenance audit methodology and capability and is otherwise not to be used.

The Audit Unit assesses mining sector compliance, safety and environmental performance to determine the effectiveness of the regulatory framework for mining in B.C. in mitigating risks to human health and safety, and the environment. Each audit will generate a public report outlining audit conclusions and recommendations.

12/1/2014Lodhia (2012b) used the media richness framework to explore the extent of the use of the web as a medium for the social and environmental communication in the context of the Australian mining industry. Through the use of a case study methodology that incorporated interviews and website analysis, the usage of the web by three Australian mining


The Future Role of Internal Audit in Risk Management

Internal audit uses this risk profile, in an exemplary way, as the high level basis for their procedures, including its risk management framework and process. For example, the mining industry and the resource sector in general require very effective risk management to generate returns on investments, to

Generally speaking, internal organizational processes of accountability continue to be obscured within scholarly debates about CSR in mining (Ballard and Banks, 2003, Kemp, 2010a, Slack, 2011).The emphasis on external stakeholders within CSR discourse in mining has been successful in requiring processes such as social baseline and impact assessment (SIA), cultural heritage assessment and

A compliance audit will assist a mining company to satisfy itself that it is complying with current and expected future legislation. It may also provide a basis for the protection of the company's directors and managers from possible fines

Identify sources of potential engagements (audit universe, audit cycle requirements, management requests, regulatory mandates, relevant market and industry trends, emerging issues, etc.) Basic. B. Identify a risk management framework to assess risks and prioritise audit engagements based on the results of a risk assessment. Basic. C

Internal audit uses this risk profile, in an exemplary way, as the high level basis for their procedures, including its risk management framework and process. For example, the mining industry and the resource sector in general require very effective risk management to generate returns on investments, to

Internal audit. We also have an internal audit function that acts as an independent appraisal function by examining and evaluating the adequacy and effectiveness of our system of internal control. Internal audit resides within the Chief Financial Officer's organization and reports to the Audit

The internal audit function itself can vary greatly depending on the organization's size and industry. Some departments have hun-dreds of staff members working around the globe. Others have just one or two internal auditors. And some organizations outsource or co-source the internal audit function. Internal Audit Responsibilities

Ongoing professional development is essential for today's internal auditors, previously outlined in Protiviti's 2013 Internal Audit Capabilities and Needs Survey.The results of the survey provide plenty of food for thought on the importance internal auditors assign to professional development in the light of a rapidly changing environment with new challenges at every turn.

Corporate social responsibility, mining and "audit culture

Generally speaking, internal organizational processes of accountability continue to be obscured within scholarly debates about CSR in mining (Ballard and Banks, 2003, Kemp, 2010a, Slack, 2011).The emphasis on external stakeholders within CSR discourse in mining has been successful in requiring processes such as social baseline and impact assessment (SIA), cultural heritage assessment and

11/29/2018The responsibility for providing assurance on the risk management framework is defined. This will include defining the responsibilities of management, external audit, internal audit and any other functions that provide assurance, such as HR, Finance, Loss

Planning well for an internal audit program is another important aspect that helps build a successful audit framework. The auditor needs to communicate a clear plan for the audit program, including consideration of the intricacies of each step, to the senior management, while keeping in mind the strategic directive of the company, to ensure

Internal audit uses this risk profile, in an exemplary way, as the high level basis for their procedures, including its risk management framework and process. For example, the mining industry and the resource sector in general require very effective risk management to generate returns on investments, to

The Internal Audit Framework details the purpose, objectives and deliverables of Internal Audit and explains the methodology and standards used to achieve independent assurance outcomes. Internal Auditing is an independent, objective assurance and consulting activity designed to add value and

Design an Audit Universe to your own specs and plan and schedule work to your own methodology. Centralise work papers and create standard and custom reports in the system. Carry out risk and control assessments to a consistent framework in line with industry standards, and monitor risk levels via dynamic matrices and heat maps.

Ease the transition to the new COSO framework with practical strategy Internal Control Audit and Compliance provides complete guidance toward the latest framework established by the Committee of Sponsoring Organizations (COSO). With clear explanations and expert advice on implementation, this helpful guide shows auditors and accounting managers how to document and test internal controls

Establish internal audit framework within which adequacy/quality/adherence to company-wide internal control procedures can be assessed; Arrange and oversee assessment of risks and controls relating to day to day operational activities; Ensure periodic checks on

Develop internal audit scopes, objectives, criteria and annual audit schedules. Analyse audit findings, make recommendations and prepare internal audit reports. Undertake moderately complex projects and investigations and provide advice. Assist in the coordination, implementation, maintenance, and continual improvement of quality plans and systems.

Guide on Internal Audit of Mining and Extractive Industry' Inducting deals with the entire spectrum of conceptual and practical issues concerning internal audit. This will prove to be a very useful reference in making the process of internal audit in the mining sector of India comparable with the best in the world.

Requires strong knowledge of the Institute of Internal Auditor's (IIA) International Professional Practices Framework (IPPF) to which the Internal Audit Division's methodology is aligned. Participates in identification of possible policy and procedural changes within an area or operation.

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