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In this three-day session you will learn all of the elements involved in traditional and operational risk-based auditing from the unique perspective of the in-charge position.

This course covers preliminary fieldwork, audit program development, COSO, risk assessment, and auditing the control environment in today's business climate.

With your peers, you will review such concepts as audit program flexibility, risk assessment, priority setting during fieldwork, and effective oral and written communications of audit findings.

Agenda

1. Managing Fieldwork
  • the importance of making audits more value added
  • fieldwork methodology tools
  • workpaper review
  • addressing fieldwork complexities
  • sample evaluations
  • professional standards
2. Auditing Concepts: The In-Charge's Perspective
  • responsibilities of the internal audit department
  • operational vs. financial/compliance auditing
  • essentials of operational auditing
  • attributes of effective policies
  • business questions your audits should answer
3. The Control Environment: High-Impact Changes
  • the need for strong controls
  • evidence of the changing control environment
  • the financial reporting cycle
  • smart placement of hard controls
  • testing soft vs. hard controls
  • corporate governance initiatives
  • proposed COSO ERM objectives and components
  • control self-assessment
  • resurgence of the FCPA
4. Marketing and Selling Internal Audit
  • 100+ tips for successfully marketing IA
  • role of the in-charge
5. Risk Assessment Strategies at the Audit Project Level
  • risk assessment defined
  • trends in risk assessment
  • professional standard for determining risk
  • integrated and residual risk
  • using risk to build an audit program
  • 80 risk model factors
  • differentiating individual and audit universe risks and ERM risks
  • understanding the organization's ERM
6. Planning and Program Development
  • the importance of preliminary work
  • allocating time
  • expanding the scope for compliance and assurance
  • areas to consider for a more productive audit
  • building the audit program
  • criteria for audit programs
7. Applying Project Management to Internal Audit
  • project approaches for audit teams
  • key factors to successful audit/project management
  • the audit/project planning process
  • using project management to plan your audits
  • time estimates
  • common workflow planning problems
  • audit/project leader's responsibilities
  • resource management
  • guidelines/examples of good project management
  • time management improvement issues
8. Fraud Awareness
  • proactively uncovering fraud
  • performing a fraud risk assessment
  • differentiating fraud auditing from traditional auditing
  • what to do when you suspect fraud
  • re-examining financial statement fraud
  • areas of fraud occurrence
  • indicators of potential fraud
  • proven tactics for preventing and detecting fraud
9. Effective Communications
  • dos and don’ts of effective meeting management
  • trends in audit report formats
  • executive summary and recommendation options
  • selling audit findings
  • guidelines for issuing more timely report
  • closing conferences/strategies currently in use
10. The Impact of High-Profile Cases on IA and Material Control Assessment
  • Enron
  • Tyco
  • WorldCom
  • Sunbeam
  • Xerox
  • HealthSouth
Learning Level: Intermediate
Prerequisite: Fundamentals of Internal Auditing or equivalent experience

Dates & Times

Classes start on the date(s) posted herein, and run from 8:30am to 5pm daily, except for the last day of class, which ends at 1pm.

Testimonials

“A very thorough look at techniques and issues that auditors at any level should be aware of and have in their “audit toolbox”.
~ Brian Bernardo, Auditor, Lockheed Martin
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FL Orlando12/11/2017 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.00452883
WA Seattle3/5/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587548
MA Boston4/23/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587549
IL Chicago5/7/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587550
NY New York6/11/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587551
CA San Francisco7/9/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587552
DC Washington8/6/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587553
CA Los Angeles9/17/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587554
NY New York10/15/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587555
FL Orlando12/10/2018 8:00:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>3 days2195.001587556
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