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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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