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Southwest Airlines Internal Audit DITF Presentation

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SWA Audit

on 12 May 2014

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Transcript of Southwest Airlines Internal Audit DITF Presentation

Southwest
Airlines


Internal Audit
DITF Presentation
May 13, 2014
Introductions:
Elizabeth Hill - PM
Julie Church - PM
Nauman Khan - PM
Shannon Tisdale - PM
IA Mission
Internal Audit champions compliance and governance and offers practical solutions to improve business operations
Internal Audit will be Collaborative, Truth-telling Partners where the work product of its qualified Employees contributes to the success of Southwest Airlines
Vision
Motto
Mission
Who We Are
Org Chart
Background
& Skills
Education
& Certification
26 degreed professionals
Degrees primarily Bachelors or Masters in:
Accounting
Management Information Systems
Business Administration
Finance
Business related degree with IA empasis
62% of IA are Certified with:
CPA - Certified Public Accountant
CIA - Certified Internal Auditor
CISA - Certified Information Systems Auditor
CFE - Certified Fraud Examiner
CIDA - Certified Investments Derivatives Auditor
Who We Are
What We Audit
How Do We Decide
What We Audit
Recent Audits
Sarbanes Oxley (SOX)
TRAX
CR1 (Codeshare)
CODA (International)
ANRR (All New Rapid Rewards)
Fuel Management
Data Sharing

Compliance Audits - 35%
Traditional and IT Audits - 35%
Strategic Projects - 25%
Management Requests - 5%
How Do We Decide What To Audit

-
Assessing the likelihood something could go wrong
- What impact would it have
- How do we determine:
Interviews with Senior Leadership
Previous knowledge and audits
Quarterly Risk Roundtables
The News
Relationships within SWA

Based on the Risk Assessment
Approved by Gary and the Board of Directors
Verifying compliance,
Partnering for Improvement
Backgrounds
Operations
Information Technology
Accounting
External Auditing
Project Management
Skills
Communication
Project Management
Facilitation
Controls Evaluation and Risk Assessment
Process Design
Writing
Investigation
Analytical Skills
southwest.com
GE Engine Mx
Contract Mgmt
Cap Ex
Officers Expenses
Duplicate Booking
Row 44
FCPA
Periodic Risk Assessment
Types of Audits
Audit Plan
Conducting the Audit
Identify Risks and Controls (Ex: traffic lights)
"Test" the controls that mitigate the risks
Report to Stakeholders
What if I get Audited?
1.REMAIN CALM!
2. BREATHE
Remember
We work for Southwest
You are one of our Customers
We are here to partner with you to improve Southwest
The Days Agenda
Welcome and Overview Presentation
Risk Assessment and Traditional Audits
Strategic Projects and Management Requests
SOX
QA
Full transcript