Keobakile Pooe: Executive – Internal Audit and Risk Management

Highlights

  • RTIA started using BarnOwl in 2016 to improve on efficiencies of the Internal Audit and Risk Management Functions by using electronic working papers.
  • Preparation for Internal Audit QAR made easy as information is stored electronically.
  • Users can easily work offline and information is updated when back online.
  • Risk owners are now held accountable for managing their risks as they interact directly with the system and don’t rely on the risk management unit.
  • Decision makers are able to use the most recent information when executing their tasks.
  • We confirm IDI has rendered excellent professional services in terms of their contract deliverables.

Challenges

  • The RTIA wanted a system that can provide a seamless process that integrates risks into the internal audit processes. BarnOwl was able to assist RTIA in that regard because Internal Auditors are able to access the information directly from the system without reliance on the Risk Manager to extract that information on their behalf.
  • The Agency also need a system that can enable managers to take full responsibility of managing the risks within their area of control and this has been achieved through managers getting alerts to update risk treatments regularly by directly accessing BarnOwl. The Management Reports generated from BarnOwl also helps the oversight committee to track progress on how management is managing risks in the Agency.sses and enhancing overall efficiency.

Benefits

  • Embedding the RTIA Internal Audit and Risk Management Methodology in BarnOwl have assisted with improving the quality of working papers.
  • The relationship between the Internal Audit Function and Risk Management Function have significantly improved due to the two functions’ reliance on each other’s work.
  • Timely updating of the risk ratings in the risk register after the audits are completed
  • Primary Risk owners able to manage their risk registers effectively due to direct access to the system.
  • Risk Registers always having the most recent updates which assist decision makers.
  • Efficiencies recorded in both the Internal Audit and Risk Management functions.
  • Files are electronic and secured from loss