Internal Auditing 201

Attendees will:

• Understand how an audit is conducted
• Learn how to identify risk
• Learn how to evaluate and document internal control
• Discover the best techniques for gathering audit evidence
• See the importance of preparing workpapers
• Understand the audit communication process

• Develop knowledge and understanding of The IIA Standards for successful performance of internal audits.
• Learn the International Professional Practices Framework (IPPF) critical to performing internal audits in all organizations and passing the CIA exam.
• Be able to assist management of organizations being audited to have the most successful receipt of an internal audit.
• Learn the practices and skills for the successful performance of internal audits. Understand how to use technology to support the internal auditor.
• Become familiar with ways in which an organization can adapt to better compete in the global marketplace.
• Understand The IIA Code of Ethics and the importance of the actions of internal auditors in performance of audits.
• Be able to correctly evaluate and suggest improvements to the effectiveness of risk management, control, and governance processes throughout the organization.

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Introductions

Section 1 - What are the Senior-Level Internal Auditor Responsibilities?
- What is "Internal Auditing"?
- What Shouldn't an Internal Auditor Do?
- Managing the Audit
- Analytical Review
- New Audit Focus is on RISK!

Section 2 - What Guidance is Available?
- Auditor Guidance Sources
- What are Internal Controls?
- IIA International Professional Practices Framework (IPPF)

Section 3 - What is the COSO 2013 Update and What Should I Do About It?
- Guidance from COSO
- Summary of 2013 COSO Updates
- Advice to Implement the New COSO

Section 4 - How Do We Manage the "Audit Life Cycle"?
- Division of Responsibilities
- The "Internal Audit Life Cycle" Manager's Perspective
- Dissecting the Internal Audit
- Audit Project Time Allocation
- How Do We Plan the Internal Audit?
- risk-based Audits

Section 5 - Should Internal Auditors Conduct Financial Audits?
- External Auditing Differ from Internal Auditing?
- How Do We Test the Financial Transactions?
- Methods of Internal Control Testing?
- Is the Sample Size Appropriate?

Section 6 - "Frauditing" - Are We Supposed to Audit for Fraud?
- Fraud Risk Assessment
- Where is Fraud Most Like to Occur?
- Behavioral Red Flags
- Categories of Fraud
- Anti-Fraud Controls

Section 7 - How Do We Conduct an Operational Audit?
- How Do We Manage Operational Audits?
- Examples of Operational Audits
- Assess the Segregation of Duties

Section 8 - Do Performance and Compliance Audits Add Value?
- Should We Perform Compliance Audits?
- Auditor Guidance: Federal Legislation
- Internal Control for Public Companies
- Sarbanes-Oxley "Raised the Bar"

Section 9 - Do We Need to Conduct IT Auditing?
- IT Auditing
- "General Computer Controls"
- "Application Computer Controls"
- Recommended IT Controls

Section 10 - Can We Improve the Audit with Software?
- Data Analysis/ Monitoring
- Audit Management
- Risk Management


Section 11 - How Do We Conclude the Internal Audit?
- Audit Manager Assessment of Findings
- Examples of Categorized Findings
- Audit Manager Review
- Quality of the Audit Report


Section 12 - Summary

Program Level of Understanding: Basic

Prerequisites: Internal Auditor 101

Advance Preparation: None

Delivery Format: Group Internet Based

NASBA Field(s) of Study: Auditing

CPE Credits: 8, based on 50 minutes of instruction per hour

The Internal Auditing 201 training event provides intermediate audit training for individuals seeking to expand their knowledge of the internal audit process. 

This internal audit seminar is designed for those who have a basic understanding of internal audit. It is ideal for individuals seeking to develop their skills as an internal auditor. The course covers the key elements of the internal audit process, including audit compliance. It also includes the audit process, types of audits, and the role of the Internal Auditor in promoting organizational accountability.

The training aligns with IIA standards and focuses on the latest best practices and techniques for conducting effective internal audits. Participants will gain a deeper understanding of audit services and internal audit basics, including risk assessments, audit planning, audit execution, and report writing.

The interactive course also includes case studies to help participants apply their learning to real-life situations. Whether you're looking to improve your audit compliance or seeking to advance your career as an Internal Auditor, the Internal Auditing 201 training seminar is an excellent investment in your professional development. Audit project leaders need to know how to lead within the Audit Department. Small group leadership is the key to the day-to-day effectiveness of the Internal Audit Department.

This CPE training seminar focuses on the skills that need to be exercised by the Audit Senior or Manager. As a follow-up to Internal Auditing 101, Internal Auditing 201 helps professionals develop into Senior Auditors and leaders for their audit teams. A small audit group leader must supervise so that every project meets audit management's expectations.

This CPE training seminar gives audit leaders insight into how to review a file, manage a project and draft audit reports. Additionally, the course will cover the interpersonal skills needed to supervise the audit team and interact with auditees. In addition, the course will cover audit management. Auditors should not be promoted without taking this training seminar.

This timely, 8 CPE training seminar is designed for the internal auditor moving up to a team leadership position. It is also designed for others who have to create and lead small audit teams.