Advanced Strategic Internal Auditing

REVIEW OF KEY AUDIT FUNCTION FOUNDATIONS

• Review of key action points
• Developing organizational specific risk matrices
• Global best practice – case studies & analysis
• Key action points – Delegate action plan development

RISK-BASED AUDITING

• Identifying areas of risk
• Classifying and quantifying risk areas
• Developing audit and re-audit frequency in line with risk
• Overview of emerging threats

REVIEW OF KEY AUDIT FUNCTION FOUNDATIONS

• Review of key action points
• Develop organizational specific risk matrices
• Global best practice – case studies – lessons learned analysis
• Key action points – delegate and manage action plan development

RISK-BASED AUDITING

• Identifying areas of risk
• Identifying new areas of risk
• Classification and quantification of risk areas
• Identifying potential interface of existing and new areas of risk
• Developing audit and re-audit frequency in alignment with risk
• Overview of emerging and evolving threats

CONDUCTING EFFECTIVE AUDITS

• The auditor’s role as a consultant
• Utilising audit reporting to inform organizational policy development
• Continuous improvement initiatives and supervision
• Measuring improvement – a toolkit for objective measurement and demonstration of audit output improvements

FINANCIAL CRIME COMPLIANCE 

• Record keeping procedures
• Controls to identify potentially suspicious activities
• Trade finance transactions
• Trade processing controls by processing staff
• Red flagging procedures
• Pre-determined thresholds systems and controls
• Escalations
• Actions were taken by senior management
• Evidence and awareness of senior management evidencing how crime risks evolve in the organizational type of business

ENGAGING WITH THE AUDIT STRUCTURE

• Making effective recommendations and business cases
• Presenting information effectively
• OSCOLA (Oxford University Standard for the Citation of Legal Authorities) for internal auditors
• Contributing meaningfully to the development of the long-term audit strategy
• Upgrading the profile of internal audit within the organization

AUDIT REPORTS – WORKING WITH STAKEHOLDERS

• Effective post audit de-briefing
• Root cause analysis and remediation recommendations
• Developing departmental action plans with stakeholders: contributing to the delivery of compliance 2.0
• Managing conflict situations