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An intensive professional development training course on

Practical Approaches to
New Ways of Internal Auditing

The Structure

This comprehensive training course consists of two modules which can be booked as a 10 Day Training event, or as individual, 5 Day training courses.

Module 1 - Developing, Improving and Monitoring the Internal Audit Function
Module 2 - Adding Value in Internal Audit

The Course Content

Module 1 - Developing, Improving and Monitoring the Internal Audit Function

Day One: 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

Day Two: 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

Day Three: 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

Day Four: 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

Day Five: 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

Module 2 - Adding Value in Internal Audit

Day Six: Internal Audit Best Practice

  • Ensure IA is seen as an agent for positive change
  • Meeting the challenges of the new IIA standards
  • The significant changes in the Internal Audit role
  • The need to recognise audit risk
  • Building a world class team
  • Marketing the IA activities

 Day Seven: The Value for Money (VFM) Approach

  • What is VFM?
  • The Power of VFM auditing
  • The 3 E’s (Efficiency, economy and effectiveness)
  • VFM audit techniques
  • Performance measurement
  • Case Studies

Day Eight: Adding Value by Focussing Audit Activities

  • Focussing attention on the activities with potential to add value
  • Auditing Third Party activities
  • Outsourcing reviews
  • Managing the added value audit process
  • Continuous auditing
  • Assurance Mapping

Day Nine: Corporate Governance – the Added Value Approach

  • The key aspects of CG
  • Auditing the key aspects of Corporate Governance
  • Developing proactive Audit Committee relationships
  • Auditing Corporate Social Responsibility and Ethics
  • How to understand and exceed stakeholders’ expectations
  • Auditing new areas such as Social Media

Day Ten: Auditing the More Complex Added Value Topics

  • Information security
  • Systems under development
  • The web site and external communications
  • IT projects
  • Business Continuity Management
  • Brand and reputation management

The Certificate

  • AZTech Certificate of Completion for delegates who attend and complete the training course

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© 2022. Material published by Aztech shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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