How to Audit a Project & Add Value From the Perspective of both the Auditor and Auditee / “IFRS - Case Study”

Presented By: IIA Toronto Chapter

December 16, 2008

Overview:

The approach to auditing a project is vastly different from how operations are audited. There are commonalities to all projects whether large, small, system dependent or simply, a system implementation. This session is unique in that the presenters have extensive experience in auditing a project and being audited from a project team perspective.

The objectives of the presentation are to provide internal auditors with

1. how to include projects into your internal audit plan
2. what is the role of internal audit in a project
3. why is internal audit’s participation important
4. who benefits from internal audits feedback/input
5. when during a project should internal audit be engaged

The presentation will incorporate a project currently in progress as a case study (“IFRS”) to illustrate a best practice for internal audit participation. As well, several scenarios will be presented on “projects gone wrong” with follow-up discussion on prevention techniques.

Speaker:

Hubert Huang

Hubert is a CA and an Associate Director with Protiviti, a leading global risk and business consulting and internal audit firm.  He specializes in internal audit, governance, and finance transformation.  Hubert has a wide range of experience leading and auditing a wide-range of projects.  He has helped companies realize business value through strategy development, process improvement, and technology implementation, in relation to risk and performance management.  Examples of projects include implementation of enterprise-wide activity-based costing/management and other business intelligence/ERP solutions, development of balanced scorecard systems, re-design of business processes, and outsourcing of business functions.  Hubert has also assisted companies in various aspects of Governance, Risk and Compliance (GRC), including the development and implementation of enterprise risk management (ERM), internal control, and disclosure frameworks and reporting processes, as well as conducting and facilitating risk assessments.  In addition to leading internal audit reviews of business functions and processes, Hubert’s internal audit experience includes auditing projects and project management, as well as advising companies on setting up and improving internal audit functions.

Hubert was previously a member of PricewaterhouseCoopers LLP’s Assurance and Business Advisory Services practice, as well as PwC Consulting (which later became IBM Business Consulting Services).  Hubert is a Chartered Accountant (CA) and received his Master of Accounting (MAcc) from the University of Waterloo and his Master of Business Administration (MBA) from the Schulich School of Business at York University.

Hashim Ahmed

Hashim is a Senior Manager working with Barrick Gold Corporation in their Financial Reporting Risk Management function.  He has over 10 years of experience working in project management, financial governance, compliance and various finance improvement projects.  As part of his current role, he is leading the IFRS Project Risk Management work-stream at Barrick to ensure that a sound framework of project controls exists during the conversion process.  He is also part of the IFRS Core Project Team where he is responsible for ensuring a smooth transition of the company’s Internal Controls over Financial Reporting (ICFR) during the conversion years.  Prior to joining his current position, Hashim was working with Ernst & Young LLP where he helped the firm develop their IFRS Conversion Methodology for the Canadian practice, and was actively involved in advising Canadian companies in their IFRS conversion projects.        

Other significant projects that Hashim worked on include assisting a telecommunication company in developing risk management and entity level controls framework, including conducting risk assessments to manage strategic, operational and financial reporting risks; delivering ongoing risk based internal audit services for entities involved in manufacturing sectors; managing scoping and documentation of financial reporting processes for SOX compliance for global mining company and a pharmaceutical company in Canada; and assisting various clients in developing their chart of accounts and financial reporting systems. 

Hashim is a Chartered Accountant and a Certified Internal Auditor.  He is also an active volunteer on the Institute of Internal Auditors’ education committee. 

Location:

St. Andrew’s Club & Conference Centre
150 King Street West , 27th Floor
Toronto, ON

Time:

8:00 – 8:30 am Registration and Networking (continental breakfast will be served)
8:30 – 10:00 am Presentation with Q&A

Costs:

Members - $45 (inc. GST)
Non-members - $55 (inc. GST)
Students - $20 (inc. GST) with valid student ID

CPE Credits:

1.5 CPE credit

Registration:

As space is limited, please pre-register by calling or emailing the IIA Toronto Chapter Office. Late registrations may not be accommodated due to space limitations.  Substitutions are welcome.

Phone:   416-223-5326
Fax:       416-222-1041
Email:     iia@homewoodave.com