Posts Tagged ‘CIA’

The Biggest Challenge as CIA

January 14, 2010

What is the biggest challenge to CIA? As CIA you have to plan, organise, monitor and control your strategic plan as well as annual plan. All those functions (plan, organise, monitor and control) need effective communication.

So, what is effective communication? Since most of the times we produce reports to AEC, I will focus the meaning of effective communication interm of report writing. Nevertheless, we do not deny that verbal communication is also important for effective communication.

I don’t like to refer to any books what do you mean by effective report writing. I just share my experience what I believe with the term of effective report writing.

I am very confident that effective report writing should meet the folowing criterias:

(1) The report should have an executive summary of not more than 2 pages (I prefer one page) with font size 12.

(2) The main report and the executive summary should be written in simple sentences (I used to tell my auditors to use newspapers writing style as an guidance).

(3) The report should be easy to understand and arrange the flow of sentences in a logical order.

(4) The report should be concise. It means it should be written ‘direct to the point’.

(5)  The importants points should be written first follow by the points which have less important.

(6) The report should be accurate and supported with facts and figures, and witten with care and precision.

(7)  For audit findings, we need good analysis besides facts and figure.  Analysis in a simple term are the statements that answers WHY, WHY and WHY it happen and the recommendations to answer every issues raised in the audit report.

Conclusion

The quality of report writing can be improved through experience and the guidances from the superior. Besides that, auditors need to read more books on writing.

How to Organise Meeting Effectively and Efficiently

November 8, 2009

As a Chief Internal Auditor (CIA), I have learnt a good lesson on how to organise meeting effectively and efficiently.

As CIA, I will propose and email to Audit and Examination (AEC) Chairman a list of papers to be tabled in the next AEC meetings. Normally, he will agree with CIA proposal since it is part of the audit plan for the year which was approved by AEC.

Then, CIA will write the agenda and arranging the papers according to its importance. Important papers will discuss first.

When the papers are ready to be circulated to AEC members, I will meet AEC chairman to discuss about the paper. First, we discuss the minutes from the previous and then the papers as in the agenda. CIA will brief all the papers and give clarification to the chairman, if he wanted.

AEC chairman will decide when the meeting should be finished. Normally, he wants the meeting should be end in not more than three hours. Based on the time given, we set the amount of time to be allocated for each paper. The AEC chairman will decide the time allocated, say 15 minutes for paper A and 20 minutes for paper B.

We circulate papers to AEC members at least three days before the meeting. This rule is stated in the AEC Term of Refernce (TOR). It is the duty for each AEC members to read all the papers and matters arising before the meeting. The main objective of the meeting is to make decision and get clarification on any matters in the papers.

When the meeting comes, the chairman will give his welcome speech,  get comfirmation on minutes in the last meeting, discuss on the matters arising and discuss all papers according to the agenda. If we invite external parties to present a paper, AEC will call them first.

As a rule, it is the responsibility of CIA to prepare one page summary for each papers presented to AEC. CIA or the presenter is given three minutes to present his paper to AEC. This three minutes presentation is to give “first impression” to the AEC about the subject matter of the paper.

After AEC members get first impression, normally AEC will ask questions and get more information from the presenter or CIA.  Then AEC will make a decision on the paper.

One the challenge to CIA is to prepare minutes as soon as possible after the meeting is over. All minutes are tabled to the Board meeting. Besides minutes, CIA will prepare a summary of the minutes. The summary is in the form of columns. Column one is matters, column is for the decisions that have made during the meeting and column three is the person responsible for each decision. The summary is also circulated to all the head of departments for early actions. So, it is not necessary for the heads to wait for official minutes from the AEC secretary (we use external party to be a secretary).

Chief Internal Auditor

September 20, 2008

After spent so much time in Corporate Planning, since 1 May 2008, I become Chief Internal Auditor. Again, this is a new experience and challenge to me. As an auditor you main responsibility is to give reassurance to the Board that all internal controls in the organisation are in place.

It was a right time when I joined this department. In April 2008, the bank was corporatised. It changed its name from Bank Pertanian Malaysia to Agrobank of Malaysia. As a new organisation, new board members and Audit and Examination Committee (AEC) were appointed.

The current Audit and Examination (AEC) are comprised four members and headed by Datuk Elias Kadir. The first AEC meeting was held on 15 September 2008 and the second AEC was on 16th Septembr 2008. I feel the bank have very strong AEC.  You see in the two AEC meetings, we were presented a few important policy papers

In the first AEC meeting on 15th September 2008, we have presented four papers related to policy matters. The papers presented were Vision and Mission of Internal Audit, new Terms of Reference for AEC, Audit Charter, Audit Programs for branches and a new organisation chart of Internal Audit.

In the second meeting we tabled a few more papers. There were ‘KPIs for Internal Auditors’, ‘audit rating’ for branch audit and ‘whistle blowing policy’, Audit Program for ICT and Audit Time Sheet. In that meeting we also proposed audit plan 2009 which cover nearly 150 auditable areas. Audit Plan 2009 is based on risk based auditing. Risk based auditing is still a new approach to us.