Marketing Partner Content Partner

Bengaluru Chennai

2018
16 20
November December

INTERNAL AUD T

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TOOLS AND TECHNIQUES ü FOR MANAGERS
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AUDIT AUDITORS

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FINANCIAL ACCOUNTANTS

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IIA
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HOURS GL BAL
TRAINING MATERIAL
Course Description

L earn the basics of auditing at the new internal auditor

level. This course provides an overview of the life cycle
of an audit from a new internal auditor’s perspective
while examining the internal control environment and This course is
audit governance. designed for internal
auditors with 1–3
years’ experience
who want to learn the
D uring this course, you will participate in interactive
activities and real-life scenarios. Be prepared to walk
away with best practices and key takeaways you can
concepts, tools, and
techniques to
enhance their effec-
apply to your organization and its internal audit tiveness and grow
function. within the profession.

Course Objectives
Ÿ Identify the core elements of the International
Professional Practices Framework (IPPF).
Ÿ Describe the components of the audit model.
Ÿ Identify the components of the COSO Internal Control
Framework.

C
Ÿ Identify the requirements of annual audit planning.
Ÿ Compare the roles and responsibilities for governance
including that of internal auditors.
Ÿ Identify the components of interviews and how
interviewing is used within an audit.
Ÿ Describe best practices for conducting and
documenting interviews.
Ÿ Identify the common forms used during process
documentation.
Ÿ Identify risks and key controls during the risk
assessment process.
Ÿ Apply the methods for obtaining and presenting audit
evidence.
Ÿ Identify the best practices for selling audit results to
stakeholders.
Ÿ Demonstrate the steps necessary to wrap up the audit
after the report is issued.
Ÿ Conduct the follow-up and validation of resolutions to
audit recommendations.
Ÿ Recognize the formal quality assurance standards that
the internal audit function is required to follow.
 TOPICS

The International Professional Practices Framework (IPPF)

!

Ÿ Overview of the new IPPF

Ÿ Mandatory guidance
Ÿ Applying the Code of Ethics
Ÿ Overview of the audit model

Understanding the Control Environment

!

Ÿ COSO Internal Control Framework

Ÿ SOX overview
Ÿ Enterprise risk management (ERM)
Ÿ COSO ERM Framework
Ÿ Commonly used internal control resources
Ÿ Definitions of risk and risk management

Audit Governance
!

Ÿ IIA guidance on governance

Ÿ The board, audit committee, and CAE
Ÿ Executive management and management-level committees
Ÿ Internal audit, external audit, other assurance providers, and regulators

Roles and Responsibilities

!

Ÿ Roles of internal auditors

Ÿ Internal audit customers and stakeholders
Ÿ Audit team roles
Ÿ Definition of integrated auditing
Ÿ Qualifications of audit team members, by level
Ÿ Mission statement, vision statement, and audit charter
Ÿ Sample internal audit organizational charts, job descriptions, audit charters, etc.

Audit Planning & Opening Conference

!

Ÿ Preliminary audit planning

Ÿ Your role in audit planning
Ÿ Conducting an interview
Ÿ Types of interviews and best practices for conducting interviews
Ÿ Interview practices to avoid
Ÿ Best practices for documenting interviews
Ÿ Defining audit scope and objectives, hours, resources, and key activities
Ÿ Preparing and submitting an audit planning memo
Ÿ Reviewing existing internal control documentation and assurance work
Ÿ Reviewing policies and procedures applicable to the function
Ÿ Reviewing and creating process flow documentation
Ÿ Best practices for narratives and flowcharts
Ÿ Conducting an effective audit opening conference

Audit Risk Assessment, Internal Controls, and Walkthrough

!

Ÿ Performing a risk assessment

 Ÿ Risk assessment concepts and terms
Ÿ Application of risk assessment concepts and terms
Ÿ Internal control overview
Ÿ Control concepts and terms
Ÿ Evaluation of control adequacy
Ÿ Test of effectiveness – Performing a walkthrough of internal controls
Ÿ Documenting the walkthrough

Audit Program Development

!

Ÿ Preparing a value-add audit program

Ÿ Tailoring audit programs
Ÿ Your role in developing audit programs
Ÿ Identifying standard test procedures applicable to the function

Audit Fieldwork & Testing

!

Ÿ Audit evidence
Ÿ Standards for audit evidence
Ÿ Types of audit evidence
Ÿ Evaluating audit evidence
Ÿ Data analysis in fieldwork
Ÿ Sampling and testing terms
Ÿ Sampling and testing approaches
Ÿ Documentation of results
Ÿ Reviewing testing workpapers

Audit Findings & Recommendations

!

Ÿ Preparing point sheets to document audit observations

Ÿ Communicating observations and components of audit reporting
Ÿ Audit reporting components
Ÿ Approaches to audit write-ups
Ÿ Developing recommendations
Ÿ Guidelines for rating audit observations and findings
Ÿ Presenting audit findings and recommendations

Audit Reporting & Exit Conference

!

Ÿ Preparing an audit report

Ÿ Report-reader assessment
Ÿ Developing the audit report
Ÿ 10 Things Not to Say in an Internal Audit Report
Ÿ Guidelines for overall audit ratings
Ÿ Conducting an effective audit exit conference
Ÿ Best practices for exit conferences

Audit Wrap-Up & Workpaper Review

!

Ÿ Typical wrap-up activities to completion of the audit

Audit Findings: Follow-Up, Validation, and Resolution

!

Ÿ Follow-up on remediation activity

Ÿ Monitoring after the audit
Ÿ Elements of the monitoring plan

Quality Assurance & Improvement Program (QAIP)

!

Ÿ Quality assurance
Ÿ QAIP framework
Ÿ Applicable guidance and sample QAIPs
 Please complete in BLOCK CAPITALS as information is used to
produce delegate badge.
Please photocopy for multiple bookings.

ING
LL Ways to Register
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T F O R E NR

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109 marketing@achr
omicpoint.com

+G 011 262
EN

ST 81521
9500
M

T +GST
m
point.co
S
INVE hromic
www.ac
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