NYC Skyline BW

Internal Audit Basic Training

Offered during the first and third week of the month on Monday-Fridays in five four hour CPE events

Join us for a unique, interactive course that "walks you through" the Internal Audit process. The instructors focus on bringing out the "tradecraft" needed to be an effective and efficient internal auditor.

"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.

We use this delivery approach to allow for a focus on individual development and learning from our very experienced auditor educators.

This timely, five morning CPE internal audit training course 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.

The cost of this internal audit training seminar is $1,200.00 for the first attendee from a single organization.

Each attendee will receive 20 Auditing CPE Hours (YB). A certificate of completion will be provided.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 20, based on 50 minutes of instruction per hour

CPE Event Highlights

. What are Auditing Standards?
. Understanding Risk Assessment.
. Understanding the elements of an effective organizational culture.
. Best Practices in creating an internal audit function.
. Best Practices in conducting audit fieldwork.
. Best Practices for testing internal controls and business processes.
. Audit verbal and written communications defined.
. Best Practices for testing internal controls.
. Best Practices in creating internal audit reporting tools.
. 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 reporting.

 

Learning Objectives

. Understand why the internal audit function exists as a major entity level control.
. Review the different standards that can be applied to the audit function: IIA, PCAOB, Yellow Book, Green Book, COSO, ISACA, ISO, NIST, etc.
. How to identify risks at all levels in the Enterprise Risk Model.
. How to categorize risk and construct an effective internal audit plan that has both strategic and tactical goals.
. Understand how auditors are not the managers of an organization.
. Learn the Dr. Kotter's Eight Stage Process to guide the internal audit functions role in creating positive changes in an organization.
. Understand how an audit is conducted.
. Understand how to use the S.P.I.N (Situation - Problem - Implication - Need) in interviewing and documenting audit findings.
. Understand how to create mature business and administrative processes using the elements of a maturity model.
. How to evaluate and document internal controls.
. Knowledge of the best techniques for gathering audit evidence.
. See the importance of preparing quality workpapers.
. Discuss interpersonal and team-building skills.
. Understand how to motivate management to create effective "Management Action Plans" concerning audit findings.
. Review how to create an effective executive summary that calls for executive action concerning audit findings.
. Understand how to create effective communication elements.

 

Key Issues on the Agenda


Section 1 Introduction and Overview of the Internal Auditing
Section 2 Internal Auditing - Yesterday, Today and Tomorrow
Section 3 Auditor Guidance
Section 4 Roles of the Audit Team
Section 5 Internal vs. External Auditing
Section 6 Planning the Audit and Assessing Risk
Section 7 Detailed Audit Planning
Section 8 Conducting the Audit Fieldwork
Section 9 The Fine Art of the Audit Interview and "Soft" Skills
Section 10 Testing the Controls
Section 11 Internal Controls for Business
Section 12 Workpaper Documentation
Section 13 Using Audit Software
Section 14 Concluding the Audit
Section 15 Summary of the Audit Cycle
Section 16 Operational Auditing
Section 17 EH&S Auditing
Section 18 Auditing the Revenue Process
Section 19 Auditing the Disbursement Process
Section 20 Compliance, Performance and Process Audits
Section 21 Frauditing - Auditing for Fraud
Section 22 Information Technology Auditing
Section 23 Root Cause Analysis
Section 24 Improving Audit Effectiveness
Section 25 Introduction and Overview of Audit Communications
Section 26 Effective Audit Communications
Section 27 Components of the Audit Report
Section 28 The High Level Focus: Executive Summary
Section 29 The Hard Facts: Audit Findings
Section 30 Recommendations and Corrective Actions
Section 31 Audit Opinions and Ratings
Section 32 Audit Report Formatting
Section 33 Optimizing the Audit Report
Section 34 Summary and Wrap-Up