Strategic Audit Development

Introduction:

This program provides a comprehensive training curriculum for participants to excel in internal audit operations, procedures, and communication strategies.  It empowers them to contribute positively to organizational governance and risk management.

Program Objectives:

At the end of this program, participants will be able to:

• Establish and structure internal audit operations, including defining, developing, and implementing an internal audit function.

• Understand the distinctions and responsibilities between internal and external auditors.

• Identify internal audit staff positions and develop the audit committee charter for a board of directors.

• Conduct a comprehensive range of audits from operational to forensic, including financial audits, compliance audits, and fraud and forensic audits.

• Optimize internal audit procedures and methodologies, including developing streamlined processes and selecting effective audit programs.

• Effectively communicate audit findings, plan audit exit conferences, and distribute final internal audit reports.

• Conduct post-audit reviews, update internal controls for boards of directors, and stay updated on audit risk developments and projects.

Targeted Audience:

• Systems analysts.

• Business analysts.

• Product managers.

• Requirements engineer.

• Business architect.

• Product owner.

Program Outlines:

Unit 1:

Establishing and Structuring Internal Audit Operations:

• Defining, developing and implementing an Internal Audit Function.

• Defining the distinctions and responsibilities between Internal and External Auditors.

• Identifying the Internal Audit Staff Positions.

• Developing the Audit Committee Charter for a Board of Directors.

• Review of Statements on International Auditing Standards Update and General Auditing Practice Issues.

• Identifying Internal Audit Staffing Requirements.

Unit 2: 

Comprehensive Audit Spectrum: From Operations to Forensics:

• Operational AuditsFinancial Audits.

• Compliance Audits.

• Fraud and Forensic Audits.

• Information Systems Audits.

• Review of Current Year U.S. Audit Risk Alerts.

Unit 3: 

Optimizing Internal Audit Procedures and Methodologies:

• Developing Streamlined Processes for Conducting Internal Audit Examinations.

• Identifying Effective Audit Programs for the Various Types of Audits.

• Evaluating and Selecting Internal Audit Methodologies.

• Notifying the Internal Auditee and Supervisors of the Internal Audit Examination and Promoting Cooperation and Assistance in Achieving Common. Goals.

• Evaluating Internal Controls Systems and Accessing Network and Computer Files and Folders.

• Effecting Changes to an In-Process Internal Audit Examination.

Unit 4: 

Internal Audit Preparation and Documentation Guide:

• Planning the Audit Commencement Conference Meeting.

• Accumulating Relevant Documentation during the Internal Audit Process.

• Professional Standards and Responsibilities Associated with Internal Auditing Documentation.

• Tools and Methods for Ensuring a Smooth Audit Process.

• Techniques for Ensuring Credibility for the Internal Audit Team.

Unit 5: 

Audit Communication and Post-Audit Procedures:

• Communicating Audit Findings and Suggestions for Areas of Improvement.

• Planning the Audit Exit Conference Meeting.

• Distributing the Final Internal Audit Report within the Organization.

• Conducting Post-Audit Reviews.

• Internal Controls Updates for Boards of Directors.

• Audit Risk Developments and Projects on the Near Term Horizon.