Corporate Governance & Value Adding Role Of Internal Audit

Event of immediate practical utility : a hands-on workshop for top management.

Venue : Taj West End, Race Course Circle, Bangalore.

Held on : 23rd June 2000 &  24th June 2000

Course Background

Free market initiatives leading to demanding customers and the shrinking global village in terms Of  
communication haw, in recent times created a situation where no economic activity could sustain or absorb  
the costs of inefficiency. This trend would only increase as time goes by.

Higher expectations on good corporate governance are one of the important by products of the awakened consumerism. Given the perspective that shareholders are in a sense customers acquiring a slice of the company's ownership rights, there will be growing demands for greater accountability, transparency, and above all for improved performance in terms of returns to discharge their stewardship responsibilities with great acumen and diligence. In this task of assuring themselves and the shareholders of the security and safety of the company's assets and earnings, and the integrity and effectiveness of the control and reporting systems, to afford such protection, the Directors will have to look to a sound accounting and internal auditing structure for ongoing help. How the internal audit function could rise to meet these expectations in the years ahead is the focus of this workshop.

Advisor & Speaker :

Dr. N. Balasubramanian has a PhD in Business Finance from Bombay University and is a member of The Institute of Chartered Accountants of India, Fellow of the All India Management Association, and member of several other professional bodies. His published work includes; Corporate Financial Policies and Shareholder Returns (l 993), Corporate Boards and Governance (editor 1998), Managing Economics Liberalisation in South Asia. (co-editor 1998), and Management Perspectives: Essays on Managerial Priorities and Management Education (editor 1999). He writes and lectures extensively on issues relating to corporate governance.

Inauguration by :

Air Commodore S.Motial - Chairman & MD. ITI Limited

Other Panel Speakers :

Udayan Sen - Partner S.B. Billimoria & Co.
Sanjay Mehta - Arthur Anderson
H.R. Subramanya - Chief G.M. Systems Appraisal and Audit
R Shankar - Associate Director, Price Waterhouse Coopers

Takeaways for the participants :

Besides providing an opportunity to share mutual experiences and benefit from the insights offered by Panel Speakers, participants can expect to :

  • Gain an appreciation of the under lying principles of corporate governance and be updated on current Indian and International codes and practices.
  • Develop skills to identify and highlight non value adding operations and activities requiring corrective measures.
  • Understand the structure and methodology of Audit Committees of the Board and the scope of optimising their interface to the benefit of the company.
  • Reaffirm their role and contribution in overall value creation and delivery to the shareholders and other stakeholders.

Programme Participation :

This offering is uniquely conceived to provide an appreciation of governance issues and at the same time preparing the ground for an informed and better , equipped Internal Audit Function to Management. Companies are there drawn from their top management and board level positions, and their internal audit or assurance functions. The programme is tailored to suit both incumbent officers and those being groomed for higher responsibilities.

Testimonials

"Good coverage & subject very relevant in to-day's Internal Auditing Environment,excellent faculty, useful materials for use in day to day working situations".
- M. Rajeshwaran - Chief Auditor, E.I.D Parry (India) Ltd.

"Comprehensive compilation of data on Corporate Governance, professional & focussed faculty, illustrative case studies - thought provoking".
- Percy Fouzdar, General Manager (Corporate Affairs) - Godrej & Boyce Mfg. Co. Ltd.

"Emerging trends were presented well."   
- V.S. Prabhakara Gupta, Vice President - Internal Audit, Satyam  Computer Services Ltd.

"The Speakers were effective, the latest development were discussed, provided an opportunity to interact  with professional from other companies".
- Virendra Virmani, Manager (F&A) - Audit, ONGC.

"Excellent quality of speakers, course content & sticking to the schedule."
- R.N. Balasubramanya, Asst. General Manager - BPL Limited.