1 / 13

IIA New Jersey Software Expo 2007

IIA New Jersey Software Expo 2007. MKInsight From Chicago To London and Eastern Siberia!. Paul Gascoigne, Morgan Kai May 17 2007. Background to Morgan Kai. Formed 8 ½ years ago 5 ½ years developing MKInsight MKInsight available commercially for 2 ½ years

yachi
Download Presentation

IIA New Jersey Software Expo 2007

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. IIA New Jersey Software Expo 2007 MKInsightFrom Chicago To Londonand Eastern Siberia! Paul Gascoigne, Morgan Kai May 17 2007

  2. Background to Morgan Kai • Formed 8 ½ years ago • 5 ½ years developing MKInsight • MKInsight available commercially for 2 ½ years • Client geography extends from Chicago to Moscow • Mix of Corporate and Government sector clients • Deep audit and technical IT skills (all in house)

  3. Audit Committee require assurance over audit coverage, audit opinion and combined audit effectiveness Executive Management require assurance that audit work can be relied upon to form statements on the efficacy of IC Senior and Operational Management require timely, focused and effective reporting to ensure effective on going control at reasonable cost + Internal Audit Risk Shareholders, Investment Analysts Regulatory bodies, Government Agencies and citizens require assurance that risks are proactively managed and controlled Internal Audit and Risk Managers face an increasing level of scrutiny in today’s Governance environment Increasing levels of stakeholder expectations creates pressure (and opportunity). Technology has a role to play in providing the right response.

  4. Efficiency Effectiveness • No. of audits completed (to plan/ budget) • Ratio of non audit days to audit days • Ratio to overall audit time of • Travel time • Reporting time • Follow up time • Review time • Scope of coverage and access • No of recommendations raised/ accepted/ implemented • No. of review points made • No. of Management requests for additional work • Auditee satisfaction surveys Improvements in Efficiency and Effectiveness are usually defined by ‘hard’ measures, e.g. The Audit tools to support these improvements historically based around the efficiency dimension – on the assumption that greater efficiencies will, when combined with consistency of approach and standards, lead to a more effective function.

  5. Level of ongoing Assurance Trends and changes over time Control evaluation and risk re-assessment Key challenge is linking, extracting and reporting the detailed work that underpins governance activities Detailed testing and review Embedded Risk Assessment MKInsight™ has been designed to provide that linkage and integration – between audit and risk activities on an operational level leading up to an aggregated ‘Big Picture’ perspective.

  6. TNK-BP: A Case Study • Formed in 2003 (merger) • Jointly owned by BP and AAR • Russia’s third largest oil producer • HQ in Moscow • Employs 90,000 people • Mostly located in Moscow, the Ukraine and Eastern Siberia

  7. TNK-BP: A Brief History • February 2006 we speak to TNK-BP for first time • March 2006 demonstrations in Moscow • August 2006 we start working together • November 2006 we release a Beta version • March 2007 we release the final code

  8. TNK-BP: Meeting New Challenges • Contracting • Multi-language requirements • Translation capabilities • Project Management disciplines • Functional enhancements • Developing skills within the development team

  9. TNK-BP: Benefits For MKInsight For Both For TNK-BP Fun Shared Experience Cultural Learning Development Of New PM Disciplines Bespoke System - Unique Functionality Ability To Use The Same System In Audit And HSE Full Russian Language System (90% Of Team Are Russian Speakers) Massively Enhanced Functionality New Developer Skills 100% Configurable System New Propects

  10. MKInsight Screenshots

  11. This section defines a range of possible responses for each test e.g. Yes, No, Fully Compliant, Partially Compliant. This is defined by the user. From these answers MKinsight attributes a quantitative score to each test result on an audit. Audit Designer – Audit Work Programme Template

  12. There are five Audit Locations visited during the Audit Year 2004. Governance Reporting – trend analysis derived from Work Programme Scores

  13. The specific risk areas that have been reviewed, together with the associated scores can be seen The specific risk areas that have been reviewed, together with the associated scores can be seen. Governance Reporting – trend analysis derived from Work Programme Scores Risk Area

More Related