* All fees are exclusive of vat ** PREMIUM - Customize your learning experience
This focused Five-day course helps the experienced internal auditor to understand the underlying concepts and principles that drive the practice of internal auditing. The attendees will learn the concepts that are behind audit planning, performance, reporting, and followup. It is ideal for senior auditors, those preparing to be an audit team manager.
What Do Participants Learn?
Essentials of providing internal audits,
Effective communication of internal audit findings,
Risk-based internal audit planning and execution
Advanced audit fieldwork and interviewing methodologies,
Audit issue and audit fieldwork workpaper quality and review,
Manage corporate cultural change.
Who Should Attend?
Internal Auditors needing training on process audits
Internal Auditors who want to improve their understanding and process auditing skills
Any individual who wants to become an internal auditor and cannot attend a formal classroom
Any individual who wants to gain credit hours towards maintaining certification in internal audits
Personnel in other function who need a better understanding of the modern internal audit role.
What Will the Learning Experience Include?
Comprehensive pre-program activities include:
Web-based information forms & surveys completed by attendee.
Direct consultation with the attendee about the expectations.
During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
Participants learn from expert trainers who have both academic and business experiences.
Highly applicable training content & instructive activities for adding depth to training topics.
**A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.
Explore & Practice
Apply & sustain the learning experience by using this ongoing support:
To ensure participant has new skills or behavior progress.
Optional, fee-based mentoring & coaching with the trainer.
Training materials & additional documents (e-books, pdf files, presentations and articles)
Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
Section One: Definitions
What is “Internal Auditing”? What are the Objectives?
What is “Risk”? Can Risk Be Managed?
What is “Internal Control” and Why Are Controls So Important?
Guidance from the IIA, COSO, and COBIT
Regulatory Requirements from the SEC, PCAOB, and Others
What is the “Audit Life Cycle”?
Where did Internal Auditing Start?
Where is Internal Auditing Today?
Where is Internal Auditing Going Tomorrow?
Section Two: Internal and External Auditing
Audit Committee Responsibilities
Director of Internal Audit/ CAE
Audit Senior/ Supervisor
Responsibilities of Management
Responsibilities of External Auditors
What is “Materiality”? “Misstatements”?
Responsibilities of Internal Auditors
Section Three: ‘Selling’ Internal Audits
What is the “Value Proposition?
Marketing the Internal Audit Function
Planing Risk – A Deeper Dive
Assessing Risk in Your Organization
Defining Your Auditable Units
CSAs and ICQs
Prioritization and Selection
Mapping Resources to the Audit Plan
Audit Unit Rotation
Validating Your Audit Plan
Section Four: Performing the Internal Audits
Understanding Internal Controls
Starting the Fieldwork
Obtaining a Walk-Through
Defining and Refining the Audit Procedures
Assessing the Segregation of Duties
Internal Control Testing
Using Audit Software
Documenting Audit Workpapers
Producing Quality Workpapers
Workpaper Key Elements
Workpaper Review Deficiencies
Audit Software Packages
Section Five: Concluding the Audit
Components of the Report
Summarizing for the Executives
Detailing the Findings
What is the Root Cause? – Root Cause Analysis (RCA)