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In this month's newsletter:

Latest BarnOwl Insight

If you were to ask someone to name the oldest business they can think of; many will mention oil companies or financial institutions, maybe even breweries or wineries and mostly from the Western world, but very few people will mention any Japanese companies.

Upcoming BarnOwl Info Sharing Session

Are you tired of audits that seem to go nowhere, leaving your team fatigued and stakeholders disconnected? It's time to revolutionise your approach to internal auditing.

 

Join us for a comprehensive overview of Risk and Control-Based Auditing. In this session, we'll uncover the evolution of internal audit services, shed light on the pivotal role of the risk-based audit methodology, and present real-time feedback from customer surveys.

 

But that's not all. We'll tackle the burning questions keeping audit teams up at night in the next 2 sessions:

• In this session we will explore how can we ensure our audits align seamlessly with organisational objectives?
• In the next session we will look at what are the most effective audit execution methodologies to drive meaningful results?

Speakers: Stephen Helberg and Scott Goddard

Date: 25 April 2024

Session: 09h00 - 10h00

Cost: Free
Venue: Online

For Queries Please Email: cheryl@barnowl.co.za

BarnOwl Spotlight Session Insight

Thank you very much to everyone who joined the Spotlight session on the 29th February 2024.

Version 11 offers our clients a fresh, modern and simplified web-based user interface for risk management utilising the latest web-based technology.

Version 11.2 now incorporates all existing BarnOwl Lite functionality and more, including registers (risk, incidents, action plans), risk & control self-assessments (RCSAs), surveys, questionnaires and major enhancements to key indicators (taking into account financial periods).

BarnOwl Tip of the Month 

Did you know?

BarnOwl makes it possible to send out risk and control self-assessments (RCSAs) to all risk and control owners across your organisation at the click of the button with no additional license costs.

 

The risk profession has for many years spoken about embedding risk management within the organisation, however, in a recent BarnOwl info sharing session, presented by Mark Victor, Partner, Deloitte Risk Advisory Services, Mark says that in his experience, “accountability and ownership is still not embedded well enough and that the risk function needs to help people understand the risks that they are running and for the business to take responsibility. We still find that the risk function do the work for the business instead of promoting accountability and playing the advisory role”.

 

Risks and controls are not updated regularly enough and too much time is spent by the risk function gathering information rather than analysing and providing decision-making insight to the business.