Developing, Improving and Monitoring Corporate Audit Function for Result

•         Understand the role and function of an Internal Audit Department and Staff.
•         Undertake various types of audit to effectively control and monitor policies, procedures and performance
•         Evaluate the effectiveness of Internal Controls and Security Policies.
•         Understand audit risk and efficiently plan, control and record an audit assignment
•         Conduct efficient Audit Exit Conferences and Post-Audit Reviews.

Internal & External Auditing and the Role & International Standards of the Internal Audit Department

•         Defining the Distinctions and Responsibilities between Internal and External Auditors
•         Identifying the Internal Audit Staff Positions
•         Identifying Internal Audit Staffing Requirements
•         Techniques for Ensuring Credibility for the Internal Audit Team
•         Developing the Audit Committee Charter for a Board of Directors
•         Review of Statements on International Auditing Standards Update and General Auditing Practice Issues

Examining & Understanding the Differences between Various Types of Audits, including Risk Factors

•         Fraud and Forensic Audits
•         Compliance Audits
•         Operational Audits
•         Information Systems Audits
•         Financial Audits
•         Risk Factors & Audit Risk Alerts

The Audit Process, Programs and Planning & Commencing Internal Audit Examinations

•         Developing Streamlined PROCESSES for Conducting Internal Audit Examinations
•         Identifying Effective Audit PROGRAMS for the Various Types of Audits
•         Risk-Based IT Audit Procedures
•         Key Considerations for your Internal Audit Plan
•         20 Questions Directors Should Ask about Internal Auditing
•         The Audit Commencement Conference Meeting

Fieldwork: Internal Audit Examinations, Controls & Documentation

•         Evaluating Internal Controls & Substantive Procedures
•         A Detailed Examination of the Budget Process & Budgetary Controls
•         Planning & Conducting Audit Interviews
•         Accumulating Relevant Documentation during the Internal Audit Process
•         Professional Standards and Responsibilities Associated with Internal Auditing Documentation
•         Sampling & Statistical Analysis to ensure a Representative Sample

The Audit Exit Conference, Findings and Post Audit Review

•         The Internal Audit Draft & Final Report: - Findings and Suggestions for Areas of Improvement
•         Planning the Audit Exit Conference Meeting
•         Distributing the Final Internal Audit Report within the Organization
•         Client Survey
•         Conducting Post-Audit Reviews/Follow Up Audit
•         Improving Corporate Governance

FOR WHOM

Accounting and financial professionals and senior management that are presently or may interface with the daily functioning of an internal audit department

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.