internal audit revenue assurance - by salem al busi - during icompetences frr2013
DESCRIPTION
Fraud, Revenue Assurance, and Risk Management are becoming critical to telecom operators especially in a very challenging business environment where competitive pressure, uncertain economy, and revenue leakage are getting very intensified. The International Conference 'Telecom Fraud, Revenue Assurance & Risk Management' produced and organized by iCompetences is a unique opportunity for networking and sharing best practices around new trends and challenges faced by telecom operators in the prevention of fraud in their telecom networks and deployment Revenue Assurance and Risk Management processes.More information at: www.iCompetences.com and www.FRRConference.com This conference is being organized each year (June)TRANSCRIPT
Internal Audit Network Audit
Internal Audit & Revenue Assurance
June, 2013
Overview
Internal Audit
Revenue Assurance
Relations Between Internal Audit & Revenue Assurance
Summary
Internal Audit
Internal Audit
Internal Audit is
• Independent
• Objective
• Consultative
Internal Audit
Internal Audit helps
• Improve Organizational Efficiency
• Accomplish Corporate Goals
• Proactively Identify Risks
• Evaluate effectiveness of controls
• Improve Governance
Revenue Assurance
Revenue Assurance
Revenue Assurance is
• Ongoing Assurance
• Integrated with Operations
• Remedying and Preventative
Revenue Assurance
Revenue Assurance helps
• Improve Profits, Revenue and Cash Flows
• Improve Operational Efficiency
• Accurately capture and collect Revenue
• Improve quality of data and processes
Relations Between Internal Audit & Revenue Assurance
Internal Audit & Revenue Assurance
Commonality
Methodology Business Process Understanding
Risk Assessment
Data Analytics
Controls Recommendation
Internal Audit & Revenue Assurance
Differences
Scope
• Depth and Breadth of Coverage and Focus Areas
Tools
• Automation and Solutions used
Authority
• Influence and Reporting Structure
Periodicity
• Frequency of risk assessment and mitigation activities
Internal Audit & Revenue Assurance
Audit
IA Reviews RA
• Evaluate effectiveness of Risk Management
• Review Controls in place
•Maturity Assessment
Internal Audit & Revenue Assurance
Collaboration
Information Exchange
• Information and Data Sharing
• RA shares experience and revenue leakages discovered
• Updates to existing Systems and Data Sources
• Key Reconciliations executed
Internal Audit & Revenue Assurance
Outcomes
Benefits and Value
• IA Supports RA requirements and builds case with Senior Management
• Increase influence and authority of RA by recommending their involvement in all revenue related processes
• RA guides IA in Revenue related reviews
• RA receives additional support from other Departments due to IA mandate
• IA helps build case for additional RA Budget if applicable
Summary
Summary
• Both functions are critical to business
• Internal Audit & Revenue Assurance Compliment each other
• Co-operation will positively impact top and bottom lines
• Both need appropriate authority and influence to achieve their goals
Thank You
Q & A