Internal Audit Basic Training Workshop - Philadelphia, PA (CCS ) About
this Event Join us for a unique, interactive course that "walks you
through" the Internal Audit process. "This course is not just for
auditors or new auditors. It is for anyone who wants an understanding
of the relationship between business objectives, risk, control,
assessment and reporting." This comprehensive internal audit training
course is for anyone who wants to have a strong base of knowledge and
understanding of the essential audit and the personal skills to become
a successful internal auditor. We present the "Audit Life Cycle":
Discover how audits are planned (based on an assessment of risk); how
audits are conducted (fieldwork including interviewing, identifying
internal controls, methods of testing, audit sampling, workpaper
documentation); how audits are reported (identifying, prioritizing and
communicating internal control deficiencies); and how to follow up on
audit findings. Relax and learn through expert instructor
presentations, group discussions, role-playing, audit exercises,
white-board diagramming and simulations. This timely, three-day CPE
training seminar is designed for the new internal auditor and
individuals who have to create effective audit workpapers in
performing internal audits and then communicate the results to
management. Each attendee will receive 24 Auditing CPE Hours (YB). A
certificate of completion will be provided. Seminar Highlights . What
are Auditing Standards . Understanding Risk Assessment . Best
Practices in conducting audit fieldwork . Audit reporting defined .
Best Practices in creating Internal Audit reports . What to include
and not include in each audit report . Essential sections of each type
of audit report . How to properly document credibility determinations
. Principles of clear and concise report writing Learning Objectives .
Attendees will understand how an audit is conducted . Attendees will
learn how to identify risks . Attendees will learn how to evaluate and
document internal controls . Attendees will discover the best
techniques for gathering audit evidence . Attendees will see the
importance of preparing workpapers . Attendees will discuss
interpersonal and team-building skills . Attendees will understand the
audit communication process Key Issues on the Agenda Introductions
Introduction and Overview . About Us and About Your Instructor . Who
are You? What are Your Needs? . Overview of Agenda Tailored to Your
Needs Section 1 - Overview of Internal Auditing . Myths About Auditing
. How the World Works! . What is "Moores's Law"? . What is "Internal
Auditing"? . How can auditors manage risk? . What type of internal
audits do we conduct? . Internal Audit Questions and Answers . Audit
Committee Expectations . Accounting vs Auditing . What should an
internal auditor do? . Dr. Kotter's Steps for Change Section 2 -
Internal Auditing - Yesterday, Today and Tomorrow . History of
Auditing . Traditional Internal Auditing . Today's Internal Auditors .
Tomorrow's Challenge Section 3 - Auditor Guidance . Numerous Audit
Guidance Available . Institute of Internal Auditor's IPPF . IIA Code
of Ethics . Four Stages of Competence . IIA Attribute Standards . IIA
Performance Standards . IIA Practice Guides . COSO 2013 . Federal
Legislation . Sarbanes-Oxley Act . GAAP - IFRS - GAAS - PCAOB Section
4 - Roles of the Internal Audit Team . Chief Audit Executive . Audit
Manager . Audit Senior . Audit Staff . What skills should auditors
possess? . Personality? Section 5 - Internal Audit vs. External Audit
. What is "Materiality"? "Misstatements"? . Financial Auditing . GAAS
Compliance Section 6 - Planning the Internal Audit and Assessing
Business Risks . Internal Audit "Life Cycle" . Risk Guidance from COSO
Enterprise Risk Management Framework . Three Layers of Residual Risk .
COSO Focus on Risk . Development of a Risk-based audit plan . Assess
the Areas of Audit Risk . Risk Management and Audits are not perfect .
Maintain an "Audit Trail" . How do we plan an internal audit? .
Detailed planning of audits . Where can we obtain audit procedures? .
Better Audit Management . Conducting an audit risk assessment .
Development of an "Audit Program" . Deliverables from the Audit
Planning Process Section 7 - Conducting Interviews . What does
internal audit mean? . What false assumptions get in the way? .
Different types of interviews . Different personality types . The
Audit Interview . S.P.I.N. Selling Interviews . Situation Questions .
Open Ended Problem Questions . Implication Questions . What needs to
be done? . Establishing a "Fact" . Sequencing to get to the "Facts"
Section 8 - Concluding Audit Fieldwork . "Kick-Off" meeting .
Deliverables Reviews . Recognizing the important internal controls .
Conducting a "Audit Walkthroughs" . Procedures Reliability Attributes
. Fieldwork Skills . What is being heard?? . Obstacles that get in the
way. . Categories of lies . What deception sound like . What deception
looks like . Sort through the interview . Assess the segregation of
duties . Quality of Audit Evidence . Methods of testing . Testing
financial transactions . Control testing . Sample sizes . Examples of
Internal Controls in business processes . Examples of Information
Technology General Controls . Examples of entity level controls .
Organizing and documenting work in audit workpapers . Workpaper key
elements . Workpaper reviews . Essential workpaper characteristics
Section 9 - Using Audit Software . Audit Software Categories - Brands
. Data analysis . Flowcharting Section 10 - Audit Findings &
Concluding the Audit . Holding an "Audit Exit" meeting . Confirmation
of the audit findings . Audit reporting writing magnificent seven .
Evaluate the severity of findings Section 11 - Audit Report Writing .
How to write a "Bad Audit Report" . Maintain the "Audit Trail" . lIA
Vision of an Audit Report . Format, Organization and Content . IIA
Audit Guidance . Why do we write audit reports? . Limitations Section
12 - Effective Audit Communications . Feelings . Do you know your
audience? . Organize your content for the audience . Visual learners
Section 13 - Components of the Audit Report . Sections of the Audit
Report . Cover page . Auditor's summary . Findings and recommendations
. Appendices Section 14 - The High Level Executive Summary vs Audit
Summaries . What to tell the "Executive"? . Executive Summary Section
of the Audit Report . Risk Communication . Build the Relationship .
Management Action Linkage . Audit Summary - Protection for the audit
team . Summarize the findings . Identify the audit objectives . Scope
Limitations . Opinions Section 15 - The Hard Facts: Audit Findings .
What is an "Audit Finding"? . Risk Ranked Findings . More effective
audit findings . Conditions - 50,000 feet to "Ground Zero" . Criteria
. Cause - Proximate - Intermediate - Root Cause . Risk Ranks . Common
Risk Categories Section 16 - Recommendations and Corrective Action
Plans . The IIA Standard . How to make a management action plan
S.M.A.R.T. . Best Practices Section 17 - Audit Opinion and Ratings .
What is an audit opinion? . Ratings - Scores - Grades . Maturity
Models Section 18 - Audit Report Formatting . Font Type and Size .
Text Justification . Formatting Recommendations . Format accounting to
the audit type . Special reports Section 19 - Optimizing the Audit
Report . Optimizing the Report . Optimize the Visual Presentation .
Cover Page . Optimize the Report Structure . Optimize Content .
Optimize Flow . Optimize Wording . Optimize the Paragraph . Optimize
the Sentences . Optimize the Content . Clarity . Coherence . Word
Economy . Verb Tense . Using Tone for Advantage . Proof Reading .
Report Review . Optimize Format to Visual People Section 20 - Summary
and Wrap-Up . 10 Keys to successful internal auditing . Communication
is the end product Experts Providing CPE Training Seminars Corporate
Compliance Seminars has been created by experts who enjoy providing
CPE classroom training, workshops and consulting on internal controls,
internal auditing and accounting related subjects. We have focused on
SOX, COSO, PCAOB, COBIT, GRC, IFRS, AICPA, GAO and IIA Standards. Our
programs are CPE for professionals with CPA, CGA, CIA, CFE, CISA, CMA
and CA designations. Corporate Compliance Seminars presents CPE to
auditors, compliance and IT professionals, Boards of Directors and
Audit Committees. We examine the details of risk management,
Sarbanes-Oxley Act compliance, Model Audit Rule compliance, auditing,
internal controls, IT security and compliance, and fraud prevention
and detection. Corporate Compliance Seminars allows the attendee to
earn Official NASBA CPE credit. Our seminars focus on the details of
the Sarbanes-Oxley Act of 2002 (SOX), Internal Controls over Financial
Reporting (ICFR), Committee of Sponsoring Organizations of the
Treadway Commission (COSO) Internal Control Frameworks, ISACA's
Control Objectives over Information Technology (COBIT), Information
Technology Infrastructure Library (ITIL), Open Compliance & Ethics
Group's (OCEG) Governance, Risk & Compliance (GRC) methodology,
PCAOB's Auditing Standard 5 (AS5), AICPA auditing standards and the
future conversion from GAAP to the International Financial Reporting
Standards (IFRS). Our seminars provide CPE for the CPA, CFE, CIA,
CISA, auditors and others with effective and engaging training.
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21/11/2019 Last update