Skills of Auditing & Internal Control©

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INTRODUCTION

To become a successful auditor, a strong base of knowledge and an understanding of audit skills are essential. With this program, auditors, as well as non-auditors with internal control responsibilities, can learn the ins-and-outs of an audit from beginning to end.

Through team exercises, group discussion, and facilitator presentations, attendees will gain a foundation of knowledge that will allow them to prepare properly for and conduct a successful audit.

An understanding of how to identify risks and internal controls in auditing will also be stressed, along with interpersonal and team-building skills.

Objectives

By the end of this seminar delegates will be able to:

• Internal control responsibilities.
• Will gain a foundation of knowledge that will allow you to conduct a successful audit.
• understanding of how to identify risks and internal controls in auditing
• Understand the Role of the Internal Audit Department

Who Should Attend?

• This Course is suitable for delegates from all sectors who have a need to improve their Audit Skills. Such as auditors, Non-Auditors, Supervisor & Managers.

Training Schedule:

 Day 1: Internal Audit Today

• Discuss some of the best practices within internal audit today.
• Identify core services and value-added opportunities provided by internal audit.
• Identify The roles of internal auditors
• List internal audits customers and stakeholders
• Main differences between Monitoring, Evaluation and Auditing
• Determine the activities that occur within each stage of the audit model

Day 2: Risk Assessment and Risk Management

• Mitigate risks to help ensure management directives are carried out.
• Use impact and likelihood factors to assess risk.
• Define risk management concepts and terms.
• Identify controls for mitigating risks to strategic objectives.
• Identify strengths, gaps, and concerns of an internal control environment.

Day3: Audit Planning

• Discuss the audit planning process.
• Assess the likelihood and impact of high-level inherent risks.
• Explain activities involved in planning audit projects.
• Discuss planning the audit approach.
• Assess roles in annual audit planning and audit project planning.
• Assess preliminary scope area.
• Discuss objectives and best practices for opening conferences.

Day 4: Interviewing, Audit Programs, Testing

• Explain how interviewing is used within an audit.
• Discuss best practices for planning and conducting interviews.
• Practice preparing for and conducting an interview.
• Describe the development and use of audit programs.
• Classify controls as preventive or detective, and as automated or manual.
• Describe methodologies used to gather audit evidence.
• Define terminology related to sampling and testing.
• Describe the components of an audit work paper.

Day 5: Reporting, Teamwork, Selling the Results

• Recognize the components of an audit report.
• Determining the readers of audit reports.
• Assess the quality of an audit opinion.
• Prepare for selling an audit finding.
• Identify best practices and opportunities for improvement in exit conferences.
• Describe activities involved in monitoring an audit.
• Explain how teamwork is essential to an audit project.
• Examine how your own capabilities contribute to a team audit project.

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