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Internal Audit Advanced Training

Offered five times in 2022 in three six hour sessions for 18 CPE credits. (Dates listed below for 2022) The sessions will run from 9:00 a.m. to 3:00 p.m. Central Time.

 

This focused 18 hour CPE virtual event helps the experienced internal auditor to understand the underlying concepts and principles that drive the practice of internal auditing. The attendees will learn the concepts that are behind audit planning, performance, reporting, and followup. It is ideal for senior auditors and those preparing to be an audit team manager.

"Internal Audit Advanced Training" is the perfect CPE course to provide a focused review of advanced audit techniques. The advanced auditor must have tools in the following areas:

- Essentials of providing internal audits,

- Effective communication of internal audit findings,

- risk-based internal audit planning and execution

- Advanced audit fieldwork and interviewing methodologies,

- Audit issue and audit fieldwork work paper quality and review,

- Manage corporate cultural change.

This timely, CPE virtual training event is designed for the experienced internal auditor and others who have to lead internal audit projects or compliance efforts and then communicate the results to management and the Board.

The cost of this internal audit training seminar is $1,200.00 per attendee.

Each attendee will receive 18 Auditing CPE Hours (YB). A certificate of completion will be provided.

Program Level of Understanding: Intermediate
Prerequisites: Internal Audit 101 and/or Internal Audit 201 or Internal Audit Basic Training
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 18, based on 50 minutes of instruction per hour

Future Dates for CPE Events

  • Monday-Wednesday - February 28 - March 2, 2022;

  • Monday-Wednesday - May 23-25, 2022;

  • Monday-Wednesday - July 25-27, 2022;

  • Monday-Wednesday - September 26-28, 2022;

  • Monday-Wednesday - October 31 - November 2, 2022.

 

CPE Event Highlights

  • What are the Internal Auditor's Responsibilities?

  • Guidance that is available

  • COSO 2013 guidance

  • How do you manage the "Audit Life Cycle"?

  • How to Conduct a financial auditing

  • Auditing for fraud

  • Conducting an operational audit

  • Conducting an IT audit

  • Improving the audit with software

 

Learning Objectives

 

Improve the effectiveness of your Audits by:

  • Understanding the roles and responsibilities of the Audit Senior and Manager

  • Examining methods to estimate Internal Audits and calculate Audit costs

  • Identifying the phases of the "Audit Life Cycle" and how to manage them

  • Learning the concepts of Financial, Operational, Fraud, Compliance and IT Audits

  • Conveying the audit findings and audit status more effectively

 

Key Issues on the Agenda


Introductions

Section 1. Introduction and Overview
. About Us and About Your Instructor
. Who are You? What are Your Needs?
. Overview of Agenda Tailored to Your Needs

Section 2. Concepts and Definitions
. What is "Internal Auditing"? What are the Objectives?
. What is "Risk"? Can Risk Be Managed?
. What is "Internal Control" and Why Are Controls So Important?
. Guidance from the IIA, COSO and COBIT
. Regulatory Requirements from the SEC, PCAOB and Others
. What is the "Audit Life Cycle"?

Section 3. History Lesson
. Where Did Internal Auditing Start?
. Where is Internal Auditing Today?
. Where is Internal Auditing Going Tomorrow?

Section 4. Roles of the Audit Team
. Audit Committee Responsibilities
. Director of Internal Audit/ CAE
. Audit Manager
. Audit Senior/ Supervisor
. Audit Staff
. Personality Profile

Section 5. Internal and External Auditing
. Responsibilities of Management
. Responsibilities of External Auditors
. What is "Materiality"? "Misstatements"?
. Responsibilities of Internal Auditors

Section 6. "Selling" Internal Audits"
. What is the "Value Proposition?
. Marketing the Internal Audit Function
. SPIN Selling
. Metrics

Section 7. Planning the Internal Audits
. Defining Risk - A Deeper Dive
. Assessing Risk in Your Organization
. Defining Your Auditable Units
. CSAs and ICQs
. Prioritization and Selection
. Mapping Resources to the Audit Plan
. Audit Unit Rotation
. Validating Your Audit Plan

Section 8. Performing the Internal Audits
. Understanding Internal Controls
. Starting the Fieldwork
. Obtaining a Walk-Through
. Defining and Refining the Audit Procedures
. Interviewing Techniques
. Assessing the Segregation of Duties
. Internal Control Testing
. Sampling Techniques
. Using Audit Software
. Documenting Audit Workpapers

Section 9. Producing Quality Workpapers
. Workpaper Key Elements
. Organization Methods
. Documentation Examples
. Workpaper Review Deficiencies
. Audit Software Packages

Section 10. Concluding the Audit
. Components of the Report
. Summarizing for the Executives
. Detailing the Findings
. What is the Root Cause? - Root Cause Analysis (RCA)
. Recommendations and CAPs
. Opinions and Ratings
. Report Optimization and Formats
. Effective Communication of Results

Section 11. Internal Audit Quality Improvement Program
. What is "Audit Quality"?
. Implementing an IA QIP
. IA Quality Metrics - The Good and The Bad
. IA QIP Scorecard

Section 12. Summary and Wrap-Up
. Recap of Internal Audit Advanced Training
. Your Keys to Success!