Conference on Financial Audit and Internal Audit

Overview:

Introduction:

This conference explores the relationship between financial audit and internal audit, focusing on the methodologies and strategies used to ensure accuracy, compliance, and risk management in financial reporting and internal processes. It empowers participants to effectively manage both financial and internal audits to drive organizational transparency and accountability.

Program Objectives:

By the end of this conference, participants will be able to:

• Understand key differences and roles of financial and internal audits.

• Apply financial audit methodologies for accurate financial reviews.

• Develop risk-based internal audit strategies for effective risk management.

• Create and communicate comprehensive audit reports to drive improvements.

• Leverage advanced audit technologies to enhance audit efficiency and security.

Target Audience:

• Financial Auditors.

• Internal Auditors.

• Audit Managers.

• Compliance Officers.

• Finance Professionals.

Conference Outline:

Unit 1:

Fundamentals of Financial and Internal Audits:

• Key differences and similarities between financial and internal audits.

• The role of financial audits in validating financial statements.

• The purpose of internal audits in improving organizational processes.

• Compliance with international financial reporting standards (IFRS, GAAP).

• Aligning internal and financial audits with organizational objectives.

Unit 2:

Financial Audit Methodologies and Techniques:

• Overview of the financial audit process: planning, execution, and reporting.

• Testing financial statement assertions: completeness, accuracy, and validity.

• Methods of Conducting substantive procedures and analytical reviews.

• Auditing key financial areas: revenue, expenses, assets, and liabilities.

• Identifying and addressing financial misstatements and irregularities.

Unit 3:

Internal Audit Strategies for Risk Management:

• The role of internal audit in risk management and corporate governance.

• How to conduct risk-based internal audits to identify and mitigate operational risks.

• Evaluating internal controls over financial reporting (ICFR).

• Strategies for developing and implementing an internal audit plan based on risk assessments.

• Enhancing audit outcomes through continuous monitoring and improvement.

Unit 4:

Reporting and Communication of Audit Findings:

• Best practices for writing comprehensive financial and internal audit reports.

• Importance of Presenting audit findings to management and the board.

• Communicating recommendations for corrective actions and improvements.

• Using audit reports to drive financial integrity and operational efficiency.

• Ensuring audit results contribute to organizational transparency and compliance.

Unit 5:

Audit Automation and Future Trends:

• Overview of audit automation tools and their benefits in streamlining audit processes.

• Leveraging robotic process automation (RPA) in audit tasks to improve efficiency and accuracy.

• Integration of cloud-based audit solutions for real-time data access and collaboration.

• Impact of artificial intelligence (AI) on predictive auditing and anomaly detection.

• Future trends in auditing: Big data, blockchain, and AI-driven analytics.

• Ensuring cybersecurity and data protection within automated audit systems.