Bank of Jordan
Bank of Jordan
Deliverables
Risk-Based Internal Audit
Background
After successfully Implementing AIGC’s ORM methodology and CAREweb ORM Module, Bank of Jordan wanted to enhance the efficiency of its Internal Audit function by linking it to the overall risk management framework
Scope of Work
⦁ Aldar International for Governance Consultancy professionals implemented CAREweb Risk-Based Internal Audit module.
⦁ A Risk-Based Internal Audit Methodology was implemented.
⦁ Formal and on the job RiBIA training were provided to the Bank’s IA team.
⦁ CAREweb™ standard IA report templates were customized to meet the Bank’s requirements.
Outcome
⦁ The Bank successfully managed the change from a traditional internal audit to a Risk-Based internal audit approach.
⦁ The work of the Risk Management and Internal Audit department was integrated and synergy was created between both departments which enhanced the control environment and reduced the number and value of events (Operational incidents).
