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In this month's newsletter:

Latest BarnOwl Insight

Chocolate does not need an introduction – it’s one of the most popular foods in the world. Chocolate contains a chemical compound known to increase dopamine levels in the areas of our brain responsible for pleasure and reward. Eating too much chocolate – blame science!

BarnOwl Info Sharing Insight

Thank you very much Stephen and Scott for your most informative presentation on ‘Mastering Risk and Control-Based Auditing (part #1 on Audit Planning)’ at the BarnOwl info-sharing event held on 25th April 2024. Thank you too, to all those who attended the session.

 

Part #1 covers Audit Planning and part #2 scheduled for 27th June 2024 will cover ‘Audit Execution’.

 

Through practical examples and insightful discussions, Stephen showcases how a risk-based approach can transform your audits from mundane tasks to strategic drivers of organisational success.

Upcoming BarnOwl Info Sharing Session in June

Attention Audit Leaders and Risk Managers,

Are your audits leading to dead ends, leaving your team worn out and stakeholders feeling neglected? It’s time to rethink and energise your approach to internal auditing.

 

Is your internal audit team showing signs of fatigue? Are stakeholders losing patience with drawn-out audit processes that yield little useful information? Choosing the right strategy for each audit project can transform internal audit into a trusted source of insights, fostering strong governance, engaging stakeholders, and providing meaningful, actionable outcomes.

 

Join us for an in-depth session on Risk and Control-Based Auditing. In our previous meeting, we discussed the annual (or rolling) internal audit plan to ensure the Board Audit and Risk Committee (BARC) feels confident that the right areas are being audited. This time, we’ll explore how a risk-based approach can elevate your audits from routine checks to strategic game-changers for your organisation.

 

Don't miss this chance to transform your internal audit function, promote best practices, and unleash the full potential of your team. Let’s start a journey toward more impactful and actionable audit processes.

 

Speakers: Stephen Helberg and Scott Goddard

Date: 27th June 2024

Session: 09h00 - 10h30

Cost: Free
Venue: Online

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

Upcoming BarnOwl Spotlight Session in July

BarnOwl invites you to our upcoming Spotlight Session where we will show case BarnOwl version 11’s enhanced key indicator functionality which now caters for financial periods (such as a year start date of 1st April or 1st July) including the closing of financial periods to prevent KI values from being amended in previous periods. 

 

BarnOwl key indicators provide an early warning system by automatically triggering re-assessments on linked Objects (i.e. Objective, Risk or Control) when KI thresholds are breached. KIs enable the proactive and timely management of risk.

Facilitator: Jonathan Crisp

Date: 25th July 2024

Session: 09h00 - 10h30

Cost: Free
Venue: Complete the booking form here to receive the online Team link

Invitation to Complete a FREE Risk Management Maturity Assessment

We are excited to invite you to participate in a FREE Risk Management Maturity Self-Assessment, designed to evaluate and enhance your organisation's risk management practices and capabilities.

 

BarnOwl has partnered with GRCReady (Australia), a leading Governance, Risk, and Compliance (GRC) advisory practice, to provide, arguably, the most comprehensive risk maturity assessment framework available.

 

The risk maturity statements should take no longer than 15-20 minutes to assess and will provide a quick and easy evaluation to help determine if your current risk management arrangements are operating effectively or where there is room for improvement.

 

On completion of the risk maturity questionnaire, your responses will be curated into a personalised scorecard with recommended actions to help improve your risk management practices, which can then be downloaded as a report in pdf format free of charge.

 

Click on this link to register and sign-up to the BarnOwl cloud platform to complete your risk maturity assessment for free.

 

You can return to your risk maturity survey at any time for a period of 30 days (for free), including being able to invite your own Participants to the survey. In addition, you will have access to BarnOwl Cloud’s task management functionality for a trial period of 30 days for free. Thereafter, you can choose to subscribe to BarnOwl Cloud for a nominal fee to continue using all BarnOwl Cloud functionality.

BarnOwl Tip of the Month 

Did you know?

BarnOwl enables you to define key indicators (KIs) with targets & thresholds at every level of your organisation. BarnOwl provides all KI owners with access to the BarnOwl portal (intranet) to view and capture their KI values (unlimited free license).

KIs can be defined and linked to:

• Objectives (Key Performance Indicators (KPIs)),
• Risks (Key Risk Indicators (KRIs)
• Controls (Key Control Indicators (KCIs)

KI values can be captured manually by KI owners, or alternatively, can be updated automatically by 3rd party data analytics tools configured to test operational data / transactions and update BarnOwl KI values based on exceptions. BarnOwl integrated with data analytics provides real-time, continuous risk monitoring.

 

When a KI threshold is breached, BarnOwl automatically triggers a re-assessment of the linked Object (Objective, Risk or Control). Re-assessments act as an early warning system enabling proactive and timely management of risk.