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ZAMBIA GRC CONFERENCE Zambezi Sun International Hotel
Livingstone, Zambia
August 27-28, 2015
Marketing the Internal Audit
Function
RICHARD NTIM
Chief Internal Auditor, Ghana Grid Company
PRESIDENT, IIA GHANA
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Content
Introduction
Internal Audit Services
Importance of Branding and Marketing Internal Audit Services
The Service Marketing Mix
Worst practices for marketing the Services
Strategies for Branding and Marketing
Conclusion
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Introduction
Internal auditing has become a
competitive business.
It is therefore necessary for internal
auditors to create awareness on their
functions.
The experiences that customers have
with auditors should encourage them
to be loyal to the services they receive. 5
Elements in Service Marketing
There is a
Service provider
Service
Customer
Marketing effort
aim at creating
awareness and keeping
customers satisfied
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What Assurance and Consulting
services do Internal Auditors provide ?
INTERNAL CONTROL
INVESTIGATION
COMPLIANCE
RISK MANAGEMENT
GOVERNANCE
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4 Characteristics of the Services
Intangibility
Perishability
Heterogeneity
Inseparability
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Intangibility
Services are not physical and cannot be seen or touched.
Assessing quality and value is difficult.
The experience consumers obtain from the service has impact on how they perceive it .
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Perishability
Services last for specific times and
cannot be stored for future use.
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Heterogeneity
Service quality and consistency are
subject to great variability.
It is difficult to make each service
experience identical.
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Inseparability
Services cannot be separated from the
service providers.
Service is produced at the point of
purchase or consumption.
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Who are your Customers
Board
Audit Committee
Senior Management
Process Owners
Other Stakeholders
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Customer Expectations
• Timely and Quality
Services
• Fraud Identification
and prevention
• Help minimize waste
and losses
• Good human relations
• Professionalism 14
Why Market Internal Audit Services
To Create awareness on Internal
Audit Services
To promote image and change
customer perception.
Identify customer needs and
satisfy them.
To establish and maintain a
strong position within the
organization
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The 7 Ps
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What is your Brand
A brand consists of a logo,
a name and the entire
feelings, experience and
expectations created by a
service ;
what you leave in the
hearts and minds of your
customers
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What is your Brand ?
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Why Branding Internal Audit Services ?
To show customers how your department positively affects the company
To set expectations for your customers on consistency and quality of the internal auditing experience
To build confidence, trusting relationship and loyalty with your customers
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Worst practices for marketing
Internal Auditing
Maintaining staff who do not believe in
internal audit’s value
Inadequate knowledge of the business
Management watchdogs and enforcers
Poor human relations and communication
Improper professionalism
Not caring what happens after report is
issued 20
Worst practices for marketing
Internal Auditing
• Not being technically current
• Issuing non-timely, lengthy and too detailed
and factually incorrect reports
• Not letting stakeholders know how you add
value
• Audit engagements “same as last year”
• Not being available or responsive
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Marketing and Branding Strategies
Self-Assessment
Fill Expectation gaps
Communicate Effectively
Live your values
Build relationships
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Marketing and Branding Strategies
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Self-assessment
Are your services needed ?
Do you have capabilities to provide services required ?
What would be the impact on the organization if your department was closed down?
Is the value of your service worth the cost ?
Marketing and Branding Strategies
Fill Expectation Gaps
Identify gaps between
services provided and
customer expectations
and plan to fill the gaps.
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Marketing and Branding Strategies
Effective Communication
Develop communication Plan
Use the channel of communication appropriate for each category of customer
• One-on-one conversation
• Meetings/workshops
• Intranet
• Newsletters/Brochures
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Marketing and Branding Strategies
Live your values
Independence
Integrity
Objectivity
Confidentiality
Competency
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Marketing and Branding Strategies
Walk the talk
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Marketing and Branding Strategies
Build relationships
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Marketing and Branding Strategies
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Customer Satisfaction
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Conclusion
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Branding and marketing play key roles in creating awareness on the internal audit services and ensure customer
satisfaction. The Internal Auditor is the best person to market the services
he/she provides in the organization.
THANK YOU
RICHARD NTIM
Chief Internal Auditor, Ghana Grid Company
President, Institute of Internal Auditors, Ghana
Tel. : +233-24-4920617
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