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Skills of Auditing and Internal Control

  • Overview ImageOverview
  • Outline ImageCourse Outline
  • Scheduled ImageScheduled Dates

Course Overview

In today's dynamic business landscape, the need for robust internal audit practices has never been more important. This course is designed to provide a thorough understanding of the fundamental principles, practices, and techniques involved in internal auditing. We will explore the core components of the internal audit function and delve into the management responsibilities that underpin a successful audit program.
 
One of the critical pillars of internal auditing is the meticulous documentation and evaluation of internal control systems. This course will teach the techniques to document work processes, develop process flow diagrams, and prepare internal controls documentation matrices.
 
Also, we will make sure you have the essential skills to plan and conduct successful audit interviews, enabling effective communication and conflict management with management while respecting the confidentiality of information.
 
By the end of this course, you will possess a comprehensive toolkit to perform internal audits with precision, integrity, and efficacy. Whether you are an aspiring internal auditor, a seasoned professional, or a stakeholder seeking to better understand the internal audit function, this course will empower you to contribute significantly to your organisation's overall governance and risk management framework.

Objective:

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

  • Define internal auditing and internal control.
  • Identify “high-risk” processes—and build control systems that mitigate the risk.
  • Develop control-based internal auditing recommendations that effectively help management meet tactical and strategic objectives.
  • Focus on the Investment in Internal Audit.
  • Document and Evaluate Internal Control Systems.
  • Audit Evidence and Audit Sampling.
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Course Outline

Internal Auditing

  • Define Internal Auditing.
  • Identify the Components of an Effective Internal Audit Function .
  • Define Management Responsibilities of an Internal Audit Function.
  • Discuss the Similarities and Differences Between Internal Auditing and External Auditing.
  • Define the Various Types of Internal Audits.

The Road Map to Effective Internal Audits

  • Discuss the Principles of Effective Audits.
  • Define Alpha and Beta Audit Risk.
  • Perform Compliance, Substantive, and Operational Tests.
  • Calculate Audit Risk.
  • Define the Relationship Between the Internal and Control Environment and Audit Testing.

Focusing the Investment in Internal Audit

  • Relate the Concept of Internal Audit Strategies to the Audit Planning Process.
  • Develop a Long-Term Audit Plan for the Internal Audit Department Using Internal Control-Based Risk Assessment.
  • Design the Audit Plan and Prepare an Audit Planning Memorandum for an Individual Internal Audit Project Assignment.

 Documenting and Evaluating Internal Control Systems

  • Understand the Work Process.
  • Document the Work Process.
  • Develop Process Flow Diagrams and Process Maps.
  • Complete the Audit Internal Controls Documentation Matrix.
  • Finalize the Audit Objectives.

Audit Evidence and Audit Sampling

  • Discuss the Basic Concepts of Audit Evidence and Their Impact on the Development of Audit Work papers.
  • Document Analytical Reviews.
  • Test and Gather Audit Evidence.
  • Complete and Document Compliance and Substantive Tests.
  • Select the Appropriate Testing Method.
  • Discuss Statistical Sampling Techniques.
  • Determine the Objectives of the Sampling Plan.
  • Develop the Sampling Plan.
  • Apply Attribute Sampling Techniques.
  • Extrapolate the Sample Results.
  • Ensure That Audit Work papers Support Audit Conclusions and Recommendations.

 Planning and Conducting Successful Audit Interviews

  • Plan Interviews.
  • Discuss a Framework for Planning, Conducting and Evaluating the Results of Interviews.
  • Manage Conflict with Management.
  • Listen Effectively.
  • Talk effectively in a Non-Threatening Environment.
  • Understand the Nature of Confidentiality of Information.
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Schedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

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Duration: 20 CPD hours (5Days)

date: 22 - 26 Jul 2024

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date: 16 - 20 Sep 2024

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date: 11 - 15 Nov 2024

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Barcelona

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date: 16 - 20 Dec 2024

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  • Finance and Accounting

Skills of Auditing and Internal Control

Duration:5 Days (20 CPD hours)

date:22 - 26 Jul 2024

Zurich

Zurich

$5,600


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Frequently Asked Questions

How can training courses be used as a company benefit?

Training is hugely beneficial to both yourself and your company. It enables you to employ new technologies, increases your productivity and enables you to be more autonomous. Have a look here at our infographic on the importance of training and development!

How often do you update your course content to ensure relevancy?

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

Do you keep your classroom environment and instructional methodologies current with today’s real-world workplace?

Yes, we focus our training on ‘real-world’ scenarios and our trainers are all highly experienced and skilled in their relevant fields.

Are your courses eligible for professional certification?

Yes, we offer certification with all our courses, every course is entitled to CPD (Continuous Professional Development) hours which you can put towards your professional portfolio.

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Skills of Auditing and Internal Control

  • SwitzerlandZurich
  • calendar22 - 26 Jul 2024
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Skills of Auditing and Internal Control

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  • SwitzerlandZurich
  • 22 - 26 Jul 2024
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