Conference on The Internal Audit School

Overview:

Introduction:

This comprehensive conference is designed to provide participants with a deep understanding of internal audit practices, methodologies, and tools. It empowers them to excel in their audit roles by covering a wide range of internal audit functions, from fundamentals to advanced strategies, focusing on governance, risk management, compliance, and value-driven auditing.

Conference Objectives:

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

• Master the fundamentals and advanced practices of internal auditing.

• Conduct risk-based audits aligned with organizational goals.

• Apply modern tools and techniques for effective internal auditing.

• Ensure compliance and governance through robust audit processes.

• Foster a culture of continuous improvement and risk management.

Target Audience:

• Internal Auditors.

• Audit Managers and Supervisors.

• Risk and Compliance Officers.

• Governance Professionals.

• Finance and Operational Auditors.

Conference Outline:

Unit 1:

Foundations of Internal Auditing:

• Introduction to internal auditing principles.

• Understanding the role of internal auditing in governance.

• Key audit objectives: assurance, compliance, and consulting.

• The International Standards for the Professional Practice of Internal Auditing.

• Building the internal audit function: structure and resources.

Unit 2:

Risk-Based Auditing:

• Fundamentals of risk management and its relationship with auditing.

• Techniques of Conducting a risk assessment to identify high-risk areas.

• Developing a risk-based audit plan.

• Techniques for prioritizing audit engagements based on risk.

• Aligning risk-based audits with organizational strategies.

Unit 3:

Audit Planning and Execution:

• The audit lifecycle: from planning to reporting.

• Methods of Preparing effective audit programs and checklists.

• Data gathering and sampling techniques.

• Importance of Conducting fieldwork: interviews, observations, and document reviews.

• Ensuring compliance with audit standards throughout the process.

Unit 4:

Internal Control Evaluation:

• Defining internal controls and their importance in audits.

• Evaluating the design and operating effectiveness of controls.

• Identifying control weaknesses and recommending improvements.

• Using frameworks such as COSO for internal control evaluation.

• Integrating control assessments into audit reports.

Unit 5:

Leveraging Technology in Auditing:

• Introduction to audit management software and tools.

• Utilizing data analytics to enhance audit efficiency.

• Continuous auditing techniques and automated controls testing.

• Cybersecurity audits: evaluating IT controls and risks.

• Case study: Using technology to transform internal auditing.

Unit 6:

Audit Reporting and Communication:

• Writing clear, concise, and actionable audit reports.

• Communicating audit findings to stakeholders and management.

• Presenting recommendations for improvement and risk mitigation.

• Using audit reports to drive organizational change.

• Techniques for effective follow-up and audit closure.

Unit 7:

Compliance Audits and Regulatory Requirements:

• Understanding the regulatory landscape and its impact on internal audits.

• Conducting compliance audits for industry-specific regulations.

• Ensuring audit activities align with corporate governance standards.

• Auditing financial statements and ensuring legal compliance.

• Supporting regulatory compliance through continuous monitoring.

Unit 8:

Performance and Operational Audits:

• Differentiating between financial, compliance, and operational audits.

• Conducting operational audits to improve efficiency and performance.

• Identifying performance gaps and recommending cost-saving measures.

• Using KPIs to measure operational effectiveness.

• Auditing supply chains, procurement, and other operational areas.

Unit 9:

Fraud Detection and Prevention in Audits:

• The internal auditor’s role in fraud prevention and detection.

• Identifying red flags and indicators of fraud.

• Investigating fraud risks during audits.

• Importance of Coordinating with forensic audit teams for in-depth investigations.

• Implementing controls to reduce the risk of fraud.

Unit 10:

Continuous Improvement and Professional Development:

• Promoting a culture of continuous improvement within the audit function.

• Building competencies and skills for internal auditors.

• Fostering innovation in audit methodologies and techniques.

• Staying updated on global trends and emerging risks in auditing.

• Developing a personal development plan for career growth in internal auditing.