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ADVANCED
AUDITING SKILLS
3
day course |
If internal audit is to be recognised as a real
business enabler and partner, and rise to the significant challenges
faced, a fundamental re-think of the whole audit process and
the effectiveness of written reports is essential.
The Role of Internal Audit is being redefined
by the Institute of Internal Auditors to provide wider assurance
relating to the wide variety of risks faced and to take a more
consultancy based approach
This seminar will present the latest methods to
identify, employ and implement the skills required in this new
arena, notably those related to audit reporting, planning and
automation. It will also prepare Internal Audit to audit the
emerging risks such as e-commerce.
Copies of extensive research material and electronic
models will be made available to all delegates.
Course Outline
Day
1 Planning, and Automation
Course Introduction
The Internal Audit
Role
-
Audit’s primary roles, objectives
and concerns
-
What is best practice? – Sharing
results of recent benchmarking surveys
-
The role of the function –
policeman, risk assessor or consultant?
-
The reputation of the function and
how to assess it
-
Key performance indicators
Exercise 1 Assessing the reputation
of your function
Audit Planning
-
Strategic audit planning
-
Best practice audit risk planning
model – (an electronic version will be provided)
-
Assignment planning and control –
with explanation of tools available
-
Audit programme development –
including use of the Internet for research
-
Managing audit requests
-
Fieldwork techniques
-
How to cover specialist areas
Exercise 2 Audit universe planning
using the model
Audit Automation
-
Computer assisted audit techniques
-
Covering the whole population of data
rather than a sample
-
Benfords Law and its importance
-
Options available
Demonstration of ACL –
the market leading audit software
Marketing of Internal
Audit
Skills required
Relationships With
The Board And Audit Committees
- Board requirements of Internal Audit
- Developing regular contact wirong>Relationships With
The Board And Audit Committees
Day 2 The new challenges
for Internal Audit
Fraud and the Internal Audit Role
Reputation
E-Commerce And Internet
Risks
Corporate Governance
Day 3 Innovative
Audit Reporting
Audit Reports –
your shop window
The problems with
audit reports
Assessment and evaluation
of your own reports
- Self evaluation against the model provided (delegates
are asked to bring along 2 or 3 recent reports)
- Reports are then swapped with another delegate who
will evaluate using the same model
- Discussion of findings/ comparison with own evaluation/
identification of opportunities for improvement
- Key challenges and their implications
Best practice internal
audit reports – the way forward
The main report
- Audit Objectives
- Scope
- Forming and expressing the audit opinion
- Benefits and deliverables
- Conclusions
- The power of Senior management comments
Exercise 15 Individually redrafting one
of your reports using the techniques
The course includes
extensive documentation and a copy of the following: -
- Phil Griffiths research report into the expectations
of Chief Executives towards Internal Audit and its future
- Phil’s acclaimed work entitled ‘ Optimising
Assurance’
- An electronic copy of the best practice Audit planning
model
©Business Risk Management Ltd 2005 |
Course Outlines
Course Diary
Booking Information
In-House Training |
