On 21-23 January 2015, FINCA Azerbaijan Audit Department (FINCA Azerbaijan Global Corporate Audit) held a 3-day interactive workshop /seminar for its employees on the topics of “Capability of applying latest innovations of Institute of Internal Auditors (IIA, USA) by the “FINCA Azerbaijan Internal Audit Department, perspectives and expectations of 2015 Audit Plan, the socio-economic indicators of Azerbaijan Republic for year 2014”. As well, daily issues were analyzed at the seminar which faced in the modern global world as well as in FINCA Azerbaijan Internal Audit Department, were taken into account the importance of the issues the keynote seminar was defined as – “Internal Audit: Realities and Myths”.

One day, 23 January 2015, was announced as Open Day for all staff of FINCA Azerbaijan and with their participation the “Internal Audit – Reality and Myths“ event was organized which contained above mentioned topics. Targets of workshop were assigned as expansion of perception and impression about the Internal Audit, problems which can arise during the audit process and ways for its solution through the development of feedback between Internal Auditors and employees with different occupied positions of organization.

During the workshop process, it was provided presentation on different subjects in accordance with the above mentioned objectives of seminar. Main theme of seminar includes topics such as:

  • “Structure and activity of Internal Audit Department”, ”Most recent innovations of IIA and implementation of 2014 Audit Plan and expectations for 2015 Audit Plan“ (presented by Khosrov Akundov, Senior Internal Auditor, Acting Internal Audit Manager);
  • “Five classic Myths and Realities about Internal Audit”, “Internal Auditor’s role in Risk Management” (presented by Elman Muradov, Senior Internal Auditor);
  • “The Main Audit Findings of 2014” (presented by Tunzala Aslanova, Internal Auditor and Sabina Manafova, Internal Auditor).

Besides, were shown practical exercises connected with risk management along with their solution in interactive manner.

At the end of event, initial ideas were received via questionnaire about the actuality and importance of themes that were discussed in workshop through the development of feedback between participants.

The result of questionnaire that held among the participants highlighted that, there is a great need for seminars also in future to develop mutual trust and confidence environment between internal auditors and other staff of the organization. According to the result of defined objectives, it was decided to hold such kind of seminars among the Managers of Branches, Departments, Divisions and Units in different levels (Head Office and regional).

The Internal Audit Department declares that will increase awareness of internal audit in FINCA Azerbaijan and start new projects related to promotion of socio-economic literacy in Azerbaijan Republic.