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Quality and Operational Auditing
Internal Audit Excellence
Overview:
Introduction:
This training program focuses on enhancing participants' proficiency in internal audit functions within organizations. It facilitates a thorough understanding of internal audit processes to improve corporate governance and organizational performance.
Program Objectives:
At the end of this program, participants will be able to:
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Understand the role and function of an Internal Audit Department and Staff.
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Undertake various types of audit to effectively control and monitor policies, procedures, and performance.
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Evaluate the effectiveness of Internal Controls and Security Policies.
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Understand audit risk and efficiently plan, control, and record an audit assignment.
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Conduct efficient Audit Exit Conferences and Post-Audit Reviews.
Targeted Audience:
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Accounting and financial professionals.
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senior management.
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Financial and non-financial professionals.
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Non-financial professionals that may need to coordinate other activities with an internal audit department.
Program Outlines:
Unit 1:
Internal & External Auditing and the Role & International Standards of the Internal Audit Department:
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Defining the Distinctions and Responsibilities between Internal and External Auditors.
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Identifying the Internal Audit Staff Positions.
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Identifying Internal Audit Staffing Requirements.
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Techniques for Ensuring Credibility for the Internal Audit Team.
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Developing the Audit Committee Charter for a Board of Directors.
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Review of Statements on International Auditing Standards Update and General Auditing Practice Issues.
Unit 2:
Examining & Understanding the Differences between Various Types of Audits, including Risk Factors:
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Fraud and Forensic Audits.
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Compliance Audits.
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Operational Audits.
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Information Systems Audits.
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Financial Audits.
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Risk Factors & Audit Risk Alerts.
Unit 3:
The Audit Process, Programs, and Planning & Commencing Internal Audit Examinations:
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Developing Streamlined PROCESSES for Conducting Internal Audit Examinations.
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Identifying Effective Audit PROGRAMS for the Various Types of Audits.
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Risk-Based IT Audit Procedures.
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Key Considerations for your Internal Audit Plan.
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20 Questions Directors Should Ask about Internal Auditing.
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The Audit Commencement Conference Meeting.
Unit 4:
Fieldwork: Internal Audit Examinations, Controls & Documentation:
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Evaluating Internal Controls & Substantive Procedures.
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A Detailed Examination of the Budget Process & Budgetary Controls.
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Planning & Conducting Audit Interviews.
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Accumulating Relevant Documentation during the Internal Audit Process.
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Professional Standards and Responsibilities Associated with Internal Auditing Documentation.
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Sampling & Statistical Analysis to ensure a Representative Sample.
Unit 5:
The Audit Exit Conference, Findings, and Post Audit Review:
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The Internal Audit Draft & Final Report: - Findings and Suggestions for Areas of Improvement.
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Planning the Audit Exit Conference Meeting.
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Distributing the Final Internal Audit Report within the Organization.
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Client Survey.
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Conducting Post-Audit Reviews/Follow Up Audit.
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Improving Corporate Governance.