Corporate Governance & the Role of Internal Audit

Subject: “Corporate Governance & the Role of Internal Audit”
Date: Tuesday 18 May 2021
Time: 10:00-13:00 & 14:00–17:00
Venue: ONLINE via ZOOM
Language: English
CPE Points (Continuous Professional Education): 6 CPEs
Instructor: Mr. Kostas P. Triantafyllidis (CIA, CFSA, CCSA, CFE)
Outline: Seminar Outline
Registration Form: Seminar Participation
Details: The seminar will be very useful and helpful to all officers and staff working in Internal Audit Units (inspectors,
internal auditors) … Read More



Target Audience

The seminar will be very useful and helpful to all officers and staff working in Internal Audit Units (inspectors,
internal auditors), officers working in Compliance Units, External Auditors, Members of Boards of Directors, Audit
Committee members, Security Professionals, Risk Management professionals, Line and Senior Managers, Team
Leaders, and generally officers that are familiar with Internal Control Systems, as well as to those that need to
extend their knowledge and activities into Enterprise Risk Management and Corporate Governance procedures.


Primary objectives

The OECD principles define Corporate Governance as involving a set of relationships between a company’s
Management, its Board, its shareholders, and other stakeholders. Corporate governance also provides the
structure through which the objectives of the company are set, and the means of attaining those objectives
and monitoring performance are determined. Corporate governance involves the allocation of authority and
responsibilities, i.e. the manner in which the business and affairs of a company are governed by its Board
and Senior Management, including how they:
▪ set the company’s strategy and objectives;
▪ determine the company’s risk tolerance/appetite;
▪ operate the company’s business on a day-to-day basis;
▪ protect the interests of the recognized stakeholders, meet shareholder obligations; and
▪ align corporate activities and behavior with the expectation that the company will operate in a safe and
sound manner, with integrity and in compliance with applicable laws and regulations.

In time, the Internal Auditor’s role was expanded to evaluating and improving management activities. Such
a specialist should continually monitor the financial reporting process to find those indicators called «red
flags», that signal the possibility of wrongful and/or illegal activities.

An Internal Auditors’ major activities can be summarized in the following functions:
▪ evaluation of operational performance;
▪ ensuring the adequacy and effectiveness of the internal control system;
▪ reviewing the financial reporting process to ensure quality and integrity in the production of reliable financial
information, relevant, useful and transparent decision making;
▪ ensuring a responsible governance;
▪ prevention, detection and correction of fraud, particularly in the financial statements, which may threaten
the integrity and quality of reports.

During the seminar participants will understand what the main elements of Corporate Governance are and
what the approach to audit must be. After completing this course, participants will be able to:
▪ Understand what are the fundamentals of Corporate Governance
▪ Define the main responsibilities of Corporate Governance
▪ Organize and schedule an audit in the Corporate Governance procedures
▪ Define good practices of Corporate Governance



Mr. Konstantinos P. Triantafyllidis, CIA, CFSA, CCSA, CFE

Past President of the Greek Institute of Internal Auditors (IIA Greece) for the period 2003-2008 and member of
the Audit Committee of the Greek Ministry of Finance.
Mr. Triantafyilidis is a graduate of the Athens Economic University in Economic Science and holds an MBA in
Banking. He is currently working as an Internal Audit Consultant, while he has over 30 years’ experience in
external auditing, internal auditing in the banking sector, and as Internal Audit Manager in various subsidiaries
of Greek Banking Groups. Additionally, he has obtained significant further training in Internal Control Systems,
the Compliance function, Internal Audit, Risk Management, and international best practices in auditing, in Greece
and abroad.
He is a Certified Internal Auditor (CIA), a Certified Financial Services Auditor (CFSA) and holds the Certification
in Control Self-Assessment (CCSA). Furthermore, he is a Certified Fraud Examiner (CFE) and Accredited Valuator
of the Audit Activity by the International Institute of Internal Auditors (The IIA), a field where he is very actively
He has participated in a large number of international and domestic seminars, conferences and other training
events as an instructor. He has extensive training experience in Internal Audit topics and serves for many years
as exclusive trainer of the Greek Banking Association. Additionally, he is a member of the working group that
issued the “Greek Corporate Governance Code”.