22 Sep 2021
12:25 - 13:15
DAY 2 - TRACK 6 - SESSION 4
The Agile Independent Risk Assessment: An Indispensable GPS for Organizational Transformation Amid DisruptionLevel: Advanced
Since agile IRAs represent an entirely new way of conducting Independent Risk Assessments, this session is particularly appropriate for a Soundbite because it speaks to concepts outside the box.
It will be conducted by a team of internal and external auditors and specialists who worked together on a major transformation initiative for an international Crown Corporation; they will demonstrate how agile IRA works in a real-life situation. Presenters include:
• The former Chief Internal Auditor of the Crown Corporation
• The project leader of the transformation initiative
• The lead independent risk advisor for this transformation project
These presenters will:
• Explain the benefits of an agile IRA, including problem anticipation, risk mitigation, enhanced resilience and the ability to deliver more value within condensed time frames
• Outline the framework of an agile IRA in the context of a GPS: charting a path, navigating past obstacles and recalculating as needed until the goal is reached
• Demonstrate the synergetic working relationship between independent risk advisors and internal auditors during a transformation
• Explain how to produce actionable reports that support senior management decision-making and board oversight by integrating five-whys-root-cause problem analysis
• Describe best practices for identifying key implementation risks, issues and control gaps
Participants will come away with a deeper understanding of how agile independent risk assessments enhance decision-making and support risk oversight for transformation within an environment of disruption.