Provalue Risk Advisory Insights: Recent Episodes
Provalue Malawi
The podcast seeks to deep-dive into pressing business risks, governance matters, compliance, finance, and the evolving investment environment.
Provalue Risk Advisory brings a wealth of local & global business experience with the sole objective of bringing tangible value to our connections and clients. Whether you are a start-up or a mature market player, you will find enduring business insights from our podcasts.
According to Wikipedia, some of the audit technique underlying internal auditing is derived from management consulting and public accounting professions, the theory of internal auditing was conceived primarily by Lawrence Sawyer (1911–2002), often referred to as "the father of modern internal auditing". However, some people also claim that internal audit can be traced back to the 4th century.
Nevertheless, based on all your wonderful experience in the profession, what would you term as the key fundamentals that are driving the profession today? In this episode, Moses attempts to narrow down our list to few key fundamentals that keep the prestigious profession alive and effective. He also provides insights on how you CAEs can strengthen the attributes of their IA Functions, and also business areas that are key to be included in annual audit plans or management/board discussions.
Lifestyle audits are conducted with the sole objective of preventing fraud among officials, or indeed to prove sources of unexplained wealth. In this Episode, Moses makes a case why every organization (beyond the Government) needs to embrace Lifestyle audits.
As audit and assurance professionals, it is imperative to have an inner drive for learning and personal development. In this Episode, Moses shares some snippets on how we can all broaden our knowledge through various learning channels, and sustain a growth pattern towards thought leadership.
In this Episode, Moses discusses the key skills required, or expected from every successful Internal Auditor. To ensure a more impactful career, it is critical for Auditors to embrace the skills and principles shared in this episode, at least, on a progressive basis.
About Provalue:
Founded in 2015, ProValue is a Malawian Risk Advisory Consulting Firm focusing on enterprise risk services, internal audit, governance, and professional & leadership training.
moschavi@gmail.com - +97433998931
misomalited@gmail.com - +265888251671
In this Episode Moses Chavi shares his experience from the Digital Transformation in Accounting and Finance Symposium hosted by the Asia Pacific Management Accounting Association (APMAA) on 16 and 17 August 2021, where he presented (and participated in a panel discussion) on the main subject "How Do Management Control Systems Respond to COVID-19". Moses' presentation focused on "The Human Factor in Management Control System".
The presentation pushed home the following key conclusions:
- Covid19 has had both positive and negative business implications.
- Management controls are an evolving agenda, and it is critical to ensure ongoing assessments and possible pivoting.
- Without a strong resolve from Management and Employees, even the best internal controls fail.
- There is a need for more collaboration among corporate functions to ensure optimization of available resources, skills, knowledge, and expertise.
Moses acknowledges and appreciates the kind invitation (as a Guest Speaker) by Qatar University to the APMAA Symposium.
Most start up and small business owners either don't know the criticality of setting solid controls from the onset, or don't believe in investing resources in this domain. However, it is prudent to ensure the business grows alongside a foundation of strong process design, accountability and staff coherence. All this, and beyond, is possible if you Institute intern audit from the very beginning of your enterprise.
Beyond the pomp that comes with Board and Audit Committee appointments, effective Members are expected to get a good grip on enterprise risk management, emerging business trends, the organization’s control environment , and the changing nature of internal auditing . All these expectations can only be met through intentional, focused and consistent Audit Committee Trainings. Has your Audit Committee been trained?
The role of data is to empower business leaders to make decisions based on facts, trends and statistical numbers. For Internal Auditors, financial and operational data conceals massive insights and human activity that deserve intentional efforts to be mined and interpreted. How are you utilizing the available business data today?
Corporate culture, also known as company culture, refers to a set of beliefs and behaviors that guide how a company's management and employees interact and handle external business transactions. Corporate culture can have a huge impact on the fortune of a company and its employees. But do you understand the impact of this common phenomenon on the performance and success of your business?
How you write creates an impression, for good or bad. Generally, persuasive writing generates engagement, motivation and drives action; and there are simple ways you can write better reports. This is equally true for Internal Audit Reports. In this Episode we delve into some of the fundamental requisites for producing unforgettable audit reports for Management and the Audit Committee.
Conflict of interest (COI) can sometimes be very subtle and may not easily be identified from the surface. In this Episode we discuss how Internal Auditors can ensure COI is addressed in relevant audit engagements, and why Management would do well to avoid any possible signs of COI.
Is your Internal Audit Focusing on worthwhile business areas? Are you truly and adequately protecting the shareholders value?
In this Episode we look at how the IA Function can ensure consistent value optimization and excellent service delivery by simply tweaking the IA agenda and aligning core activities to strategic and evolving business initiatives.
In this Quickbite we discuss the key risk areas that Internal Auditors and Risk Managers should be focusing on to ensure there is adequate coverage of areas that matter to the business and key stakeholders.
Board members must be aware of their organisations’ principal risks (and opportunities) and the external threats to their operations and strategies. They should also have confidence that internal audit is prioritising these. Especially now. The risk landscape has taken a dramatic and unexpected turn. Looking at 2021, the global coronavirus pandemic (GCP) is likely to shape the risk profiles of organisations in many ways (IIA Risk in Focus 2021 Report).
Despite Internal Audit going through massive changes over the years, there still remains a wide expectation gap on the real role of the corporate activity, both among the internal auditors themselves, and other key stakeholders, including Management and the Audit Committee. In this Episode we discuss the evolving role of internal audit and how CAEs can bolster the influence of their functions using readily available resources.
The unique challenges of today’s business landscape and unprecedented levels of risk are causing Audit Committees to approach risk oversight in a much different manner than they have in the past. With a prevalent black swan (Covid19 Pandemic) and many disruptive incidents across the boarders and corners of global trade, can we confidently say our Audit Committees and the Board are looking at the major risks? What about the continued relevance of the traditional risk registers; is there anything a modern risk manager and internal audit function can do better? In this Episode, Ted Misomali and Moses Chavi, the ProValue Malawi Partners addresses all these key questions in a concise manner to benefit Audit Committee Members, Risk Managers, CAEs, and Executive Management in navigating the prevailing turbulent business climate.
In this Episode, Ted Misomali & Moses Chavi, the Provalue Risk Advisory Partners introduce the Objective Based Decision Making Framework with a core focus on its application during a crisis such as the ensuing Covid19 Pandemic.
This framework is fundamental to the oversight responsibilities of Company Boards and the operational activities of Executive Management. The principles shared within this framework can be tailored and effectively applied to any kind of business depending on your unique circumstances.
For more details, visit www.provaluemw.com or call us directly on +265 888 251 671. You can also send emails to tedmisomali@provaluemw.com, moseschavi@provaluemw.com, or indeed misomalited@gmail.com depending on your convenience.