Key aspects of a World Class Internal Audit Function

1. World Class Internal Audit Function Presentation to the Members of the Pune West Study Circle of ICAI CA Satish Shenoy, Larsen & Toubro Limited27th February 2011

2. Key aspects of a World Class Internal Audit Function • Risk Based Audit Plan • Audit Charter • Audit Process • Co-Sourcing Model • Data Analytics

3. Key aspects of a World Class Internal Audit Function • Report Writing • Action Taken on Audit Issues • Audit Portal • In-house Journal • Off Site Audits

4. Key aspects of a World Class Internal Audit Function • IS Audits & Integration • Internal Control Evaluation - Operations, Compliance & Financial Reporting (COSO Framework) • Technical Support Engagement • Flash/Exception Reports • Study Circle/Book of the Month/Managers Meet/Annual Conference

5. Key aspects of a World Class Internal Audit Function • Continuous Monitoring/Auditing • ISO Certification • Audit Committee • Control Self Assessment • Computer Aided Audit Tools (CAAT)

6. Key aspects of a World Class Internal Audit Function • Additional Qualifications • Active Participation in Professional Bodies • Audit Scheduling • Audit in Depth • Distribution of Reports

7. Thanks for the opportunity to meet many more good people in life & your active participation