Can Internal Auditors really be independent?

Overview

During this session, Geraint will explore where independence works and how perception plays a role. Is outsourcing the answer, or does that mean a loss of internal perspective? Is there a managed insource solution?

The session will look at whether risk evaluation helps or hinders independence, and other factors such as ‘how does meeting attendance help?’.

The session will focus on where internal audit sits within the hierarchy, in particular, the head of internal audit. What is the ‘winning pentagram’, and can this be achieved?.

Speaker

Geraint Davies CBE, portolio non-executive director

Geraint Davies was a partner in Grant Thornton for 25 years, retiring in June 2013 as a senior audit partner dealing with FTSE and AIM companies. During his time at Grant Thornton he was head of public sector internal audit, providing in excess of 5000 man days of outsourced and co-sourced internal audit. He was also responsible for a number of NAO investigations into and for the Treasury; Home Office; DCMS and the Ministry of Justice. While a partner he was a board member of a number of charitable and not for profit organisations.

Since retiring from Grant Thornton he has a non-executive portfolio which includes FTSE and large private companies as well as being chair of two charities and advisor to others including the Aberfan charities for which he has been the pro bono lead advisor for nearly 40 years.

He is either chair of audit or a member of the audit committee of three organisations. He is a part-time lecturer on accounting and corporate governance matters, is a mentor to five individuals, and is a committee member of the FRC.

Geraint was awarded a CBE in the 2013 New Year Honours list for his charitable activities in Wales.