Attend this course to strengthen your audit knowledge, skills, abilities, tools and techniques. Determining the efficiency and effectiveness of operations, processes, programs, projects and initiatives are important to each organization’s success. This seminar will provide you with the framework plus approaches, tools and techniques to conduct risk-based audits. Also, included will be all phases of the audit engagement: planning, fieldwork, reporting and follow-up including an overview of the annual risk assessment/audit planning process. Finally, the challenges and approaches used to management the audit projects will be reviewed. Tips and reference materials will be provided to help you upon your return to your audit department. Also, exercises/case studies will be used to reinforce the session learning concepts.
In this two day seminar, we will discuss the following important issues:
Learning Objectives
You will leave this session able to:
Who Should Attend
Internal audit staff and supervisors/management - Experienced internal audit staff with at least 3 years’ experience and personnel wanting a refresher
Prerequisites
The participant should have at least three (3) years’ audit experience or equivalent knowledge; and be familiar with terminology, standards, approaches, methodologies, and techniques to audit operational areas. In addition, experience with developing audit objectives and audit programs will be helpful. Participation in gathering risk information for the annual audit risk assessment/audit planning process will also be helpful. Other auditors with more years of experience may want a refresher or review of new concepts discussed in this session.
Level: Intermediate |
Field: Auditing |
CPE Credits: 8 (400 minutes) - 1 Day; 16 (800 minutes) - 2 Day |
Delivery Method: Live - Group |
Course Outline
Why Operational/Performance Auditing is important
Barriers to successful audits
Primary characteristics of a successful auditor – Key knowledge, skills & abilities
Risks, risk frameworks & risk management
Risk-based auditing
Audit planning
Productivity, creativity & innovation for audit process improvement
Standards, practice advisories & guides
Documentation and competent, sufficient, relevant, useful & persuasive audit evidence
Professional judgment
Tools & techniques for the gathering of evidence
Standards, practice advisories & guides
Automated tools & techniques (e.g. audit management system, data analysis, surveys, email)
Critical thinking methods used by auditors in the performance of audit activities – techniques, approaches & evidence gathering
Advanced interviewing skills
Developing audit objectives & audit programs
Review the audit phases:
Key controls, sampling and testwork
Benchmarking & leading practices
Information technology (IT) audits – coordination & collaboration
Strategic audits
Communicating audit issues, findings and overall results to management & primary stakeholders
Negotiation for auditors
Consulting engagements
Audit’s role related to governance, risk management and control processes
Audit’s role in fraud prevention & detection
Leading & managing audit projects
Leadership & mentoring
Building relationships with an ultimate goal of becoming a “Trusted Advisor”
Basics of a Self-Assessment/Quality Assessment Review (QAR)
How success is measured for operational audits
Management of information – necessary skills for auditors to stay relevant
Tips, lessons learned and leading practices
A list resources/reference materials for future use personal & staff development
Contact Phil Flora for additional information or a proposal: phil@flobizllc.com