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BEST PRACTICE INTERNAL AUDIT

Is your Internal Audit function achieving its full potential?

Is it operating to world class standards?

Are you currently seeking to establish Internal Audit for the first time or significantly change its structure?

Whatever the pedigree of your Internal audit function the objectives will be the same - to add the greatest value to your organisation for the minimum cost.

What you need is a proven way of assessing your function and comparing it with the best practices in the world. You can then create an action plan to drive your Internal Audit function forward.

This highly successful course will be facilitated by Phil Griffiths, a renowned expert in the Internal Audit field. The regular Internal Audit benchmarking exercises completed by his organisation ensure that the BRM database of the world's best Internal Audit practice is probably the most definitive and up to date available.

In just two days, Phil will provide you with the information to establish best practice in all aspects of your function. He will also provide you with hundreds of new ideas.

Who Should Attend?

Internal Audit Directors, Audit Managers and Senior Internal Auditors .
Management responsible for establishing or controlling Internal Audit functions

Course Outline

1.   The Audit Role

• The audit charter and terms of reference
• The scope of the function
• The approach taken to market the function (with 20 ideas on how to exploit the internet and Intranet in this regard)
• The role of the function (and how this should evolve)
• The risk focus of the function (and how to develop the optimum approach)
• The role in the Corporate Governance Process (and how to optimise this role)

• Audit planning - how strategic and tactical plans should be developed (including the provision of a best practice risk analysis model)
• Audit programme development (with 20 ideas for many new sources of information)
• Audit assignment planning and control The Sources of Audit work (and how to manage requests effectively)
• The use of technology - Audit automation, Computer assisted audit techniques etc (and how to exploit this technology)

• The Audit Committee relationship - how to develop this
• Evaluating the audit committee requirements
• How to anticipate requests etc
• How to develop effective audit committee reports
• Developing regular contact with the Chief Executive

• One day module with 60+ ideas on how to improve this critical activity.

• Outsourced or partnered services (and how to measure success)
• Measuring the value added by Internal Audit (with more than 30 best practice ideas)
• The audit personnel -skills, experience, turnover, etc (with practical advice on successful techniques to enhance coverage and optimise resources - and enhance skills)
• Fieldwork techniques (with tips and ideas)
• The costs of the function. (including industry and national comparisons)
• The external audit relationship (and how to determine the optimum approach)
• Perceptions of the function - your own and management's ( and steps to take to exceed management expectations)

• Fraud and the Internal Audit role
• Audit of overseas subsidiaries
• Geographic and Business Unit coverage
• Coverage of specialist areas ( Treasury, IT security etc)
• Non audit work (and how to manage it)
• The future direction of the function
• The challenges faced

Course Outlines

Course Diary

Booking Information

In-House Training