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.
– 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?
Introduction and Overview
. About Us and About Your Instructor
. Who are You? What are Your Needs?
. Overview of Agenda Tailored to Your Needs
Concepts and 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?
Roles of the Audit Team
. Audit Committee Responsibilities
. Director of Internal Audit/ CAE
. Audit Manager
. Audit Senior/ Supervisor
. Audit Staff
. Personality Profile
Internal and External Auditing
. Responsibilities of Management
. Responsibilities of External Auditors
. What is “Materiality”? “Misstatements”?
. Responsibilities of Internal Auditors
“Selling” Internal Audits”
. What is the “Value Proposition?
. Marketing the Internal Audit Function
. SPIN Selling
Planning the Internal Audits
. Defining 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
Performing the Internal Audits
. Understanding Internal Controls
. Starting the Fieldwork
. Obtaining a Walk-Through
. Defining and Refining the Audit Procedures
. Interviewing Techniques
. Assessing the Segregation of Duties
. Internal Control Testing
. Sampling Techniques
. Using Audit Software
. Documenting Audit Workpapers
Concluding the Audit
. Components of the Report
. Summarizing for the Executives
. Detailing the Findings
. What is the Root Cause? – Root Cause Analysis (RCA)
. Recommendations and CAPs
. Opinions and Ratings
. Report Optimization and Formats
. Effective Communication of Results
Internal Audit Quality Improvement Program
. What is “Audit Quality”?
. Implementing an IA QIP
. IA Quality Metrics – The Good and The Bad
. IA QIP Scorecard
NOT INTERESTED IN THIS COURSE?
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