Internal Audit Division Self-Training

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Internal Audit Division Self-Training.

Abstract

In quest of executing and conducting organizations activities exquisitely, internal audit plays a

pivotal role in adding value and effectiveness in any work setting. Narrowing down to a bank,

specifically, the internal audit division assures quality, ensures processes compliance, internal

control, and risk management. Since all these activities by the audit division are geared towards

achieving a common purpose and uphold the banks going concern concept, timely training and

recap sessions are and remain a recommendable exercise in a banks lifespan. Self-training is

whereby employees train themselves and most importantly by themselves. The self-learning

eradicates stagnation at work, and employees decide by themselves and control their learning

with sourcing trainers. Therefore, this proposal intends to initiate internal audit training within

the banks' internal audit division. Such training addresses critical issues which contribute

processes effectiveness, thus the achievement of workforce development at a typical workplace

at no cost.

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Introduction

As a division, a self-training within and by ourselves is a valuable approach. It provides a much

more interactive session to learn and get clarifications. It’s a self-paced training where no third

parties or banks’ human resource department will be involved. All along, the division has

acquired a weighty level of professional expertise, therefore, wish to share the unique set of

know-how that each professional in our division holds. This expertise sharing will not only

engrain what we know but also establish a reputation and professional value (Ford). This is

indeed being of service to others.

Strategy

The approach of teaching and learning from each other ensures and encourages every member to

participate because its either one has the skill to learn or a skill to share to the rest. Many

conclusions and solutions could be drawn from this great exercise that encourages collaboration

rather than competition in the bank setting (McIlwraith). Things can also be that way every day;

reaching out and connecting with colleagues all in quest of building a collaborative atmosphere

where each of the professionals will take part in sharing what works get feedback and hence

create self-learning personnel by keeping the door open to such fruitful self-training.

Timing

The open exchanges and training episodes will be structured not an extra of one hour. A meeting

or training time that works for everyone will be harmoniously selected. A consensus meeting for

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the same will be organized for proper engagement. With this, regular work established processes

will not be altered and if so, only a little. A one-hour session will be allocated severally in a

week; different days different times. During the regular work hours, each employee will be in a

position to access an on the clock training.

Advantages of divisions self-training

As unique expertise necessities cut across the employees, the aspect of self-internal training

provides numerous merits to not only the internal audit division but also to the bank and the

professionals at large (Al Matarneh). Some of the advantages include;

Relevant training

There is guaranteed broad sharing of information, content, skills, and knowledge among the

staff. To a large extent, this kind of exercise can meet required company goals which reflect the

effectiveness of the institution the audit division (Taylor & Cookie). Competency and systematic

approach towards operations effective, which is a crucial motive in the internal audit division

will be boosted unlimitedly.

Cost-effective

Unlike outsourcing trainers who will consume the internal audit division large sums of money,

the self-training mechanism internally costs not a single coin as its more of sharpening skills

internally which voluntarily teaching and learning from each other.

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Time-effectiveness and control

The fact that no one is scheduled to leave the premises or work station is a clear indication that

the division will be in total control of the training and time allocated. Thus, gaining additional

professional qualifications in the workplace saves valuable time for our division and banks staff.

Team Building

Uniquely, the division will be encouraging the spirit of team building. Internal audit division

with its mandate to add value and improve operation will be upheld through such an event that

increases motivation and promote collaborativeness via a team-based environment.

Possible topics and related to internal audit

Fraud

Fraud and fraud risk evaluation is scope under the internal audit department. It’s, therefore,

necessary to unfold the best measures and practices to employees during self-training sessions.

This gives all parties clear and depth awareness to help identify, evaluate, and manage any

misconduct and fraud suspicions (Goetsch & Stanley).

Excel

It’s with no doubt that technology has brought about advanced accountability measures. Most

many people rely on excel for reliability or reporting and data handling. Therefore, as an internal

audit division, sharing excel know how among employees will aid in tracing errors as well as

avoid mistakes in sheets.

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Ethics

Auditors do set their code. A reminder among esteemed auditors team on best standards and

practices aids in professionalism and objective conduct. With the internal audit training in place,

at least a tone of absolute honesty in all processes will be whispered across.

Cybersecurity

Leaving such a topic unaddressed increases risks exposure of the banks brand. With the

reputational damage taking place, an open one on one forum internally will address issues that

may put the bank at risk.

Customer service

Notably, everyone in the bank, including those in the internal audit division is directly or

indirectly involved with service to a customer. Whereas the internal audit division is indirectly

involved, adopting the customer service mindset is equally important. In the self-training,

employees will have a chance of practically break barriers through customer-approach actions.

Data management

During the self-training sessions internally, experts in data management will enlighten the others

on reliability, accessibility, and timeliness in data handling. That effectiveness and swiftness in

data control are at the heart of the internal audit division to foster informed processing of data.

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Data analysis and analytics.

Without adequate and proper analysis, internal audit division cannot be of any relevance. Among

the employees, some have gained transformative approaches, and therefore, the topic of analytics

will sharpen not only a few but a bunch of employees. The junior staffs need to understand these

approaches from the word go.

Delegation

It’s essential for employees to understand why there is a delegation in departments and what

tasks are delegated. Sharing this discussion enhances suitable delegation mechanisms, thus

efficiency in time delivery of duties and functions.

Giving feedback

Most times, employees carry out surveys that require feedback. Sharing with colleagues on how

to go about this survey and giving substantial and relevant feedback will be an awakening call

for many.

Cloud migration

Experts who are already miles ahead in terms of information storage will showcase how to go

about migrating to cloud technology

Anti-corruption

For an institution like a bank, this topic is crucial as employees share their hands-on experiences

to continue sustaining anti-bribery environment among all staffs.

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Systems

Control of risks takes many measures, and employees need to open up on the various methods

employed to ensure more effectiveness. In the end, it will ring in everyone’s mind that internal

control is a system that ongoing day in day out.

Reporting

It is equally essential for the junior in the bank to know the formal presentation of findings and

recommendations based on assigned tasks. Internal audit division will seek to clarify how to

present summaries of responses and action plans.

Telecommunications security

Shaping our world each day, telecommunication contributes much to any institution. However,

lots of employees and the young generation need to be more knowledgeable about the dynamic

industry. This enhances readiness in the team.

Audit framework

As a wrap up the topic, a recap of rules and legislation that are relevant will enlighten people

some more. Everyone needs to know what and how happens around as some know well than the

others. This move enhances ‘reading from the same script.’

How to initiate, Encourage and Implement

Without HR involvement and other stakeholders and departments, it is possible to carry out

effective self-training to both new and existing new staff. A comprehensive and well thought out

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induction plan is essential for ensuring the project's effectiveness. Communication of

information clearly will be upheld and ensure employees develop each other through mentoring

others (Yap & Jon). This is where experienced employees will take up the responsibility to

conduct teaching sessions in their areas of expertise. Regular monitoring among employees will

ensure there is continuous advice on how to improve. Regular group meetings where employees

take trainer roles as others learn guarantees manageable self-training without the need to engage

outsourced trainers.

Training variety explained

Variety of learning approaches will be employed to enhance all-inclusive teaching and learning

exercise. Within such internal audit self-training setting, employees will manage to acquire and

learn several soft skills and etiquettes. On the same, due to taking and exchanging teacher-learner

roles, presentation skills will be enhanced among staffs. Elsewhere, technical skills will also be

improved, thus raising a happier, productive, and more engaged employee. All these approaches

are crucial to employees and teams’ development.

Training effectiveness: How these sessions can be fun, effective and Resourceful

Such a practical skills enhancement program can be more effective if the employees are given

the freedom to know whatever is going on in the institution and what’s changing or needs to be

replaced. That way, they will appreciate the interest thus open up to such discussions. If the self-

training program can be aligned with achievable objectives, it will be of great benefit (Chambers

& Marjan). This gets more fun when it’s adopted in the bank's culture as will be considered as a

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long life routine. Indeed, if measured, the corresponding behaviors from the internal audit

division self-training will bring tremendous efficiency and effectiveness.

Conclusion

Self-training aims continued self-development among an employee. As we all know, due to the

ever-changing methods of working, such a development program is essential to the employee,

internal audit division, and institution at large. From time to time, employees should enhance

their effectiveness by themselves. Self-training without further external engagements, therefore,

proves to be the most adaptable as it is morale boosting and cost-effective.

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Works Cited

Al Matarneh, Ghassan F. "Factors determining the internal audit quality in banks: Empirical

Evidence from Jordan." International Research Journal of Finance and Economics 73

(2011): 99-108.

Chambers, Andrew D., and Marjan Odar. "A new vision for internal audit." Managerial Auditing

Journal 30.1 (2015): 34-55.

Cummings, Thomas G., and Christopher G. Worley. Organization development and change.

Cengage learning, 2014.

Ford, J. Kevin, ed. Improving training effectiveness in work organizations. Psychology Press,

2014.

Goetsch, David L., and Stanley B. Davis. Quality management for organizational excellence.

Upper Saddle River, NJ: pearson, 2014.

McIlwraith, Angus. Information security and employee behaviour: how to reduce risk through

employee education, training and awareness. Routledge, 2016.

Taylor, Susanne, and Cookie Govender. "Education and training for the workplace: workplace-

readiness skills." (2013).

Yap, Querubin S., and Jon K. Webber. "Developing corporate culture in a training department: A

qualitative case study of internal and outsourced staff." Review of Business & Finance

Studies 6.1 (2015): 43-56.

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