Corporate Finance, Banking and Auditing

Fundamentals of Auditing Program

Select Other "city & date"

Fundamentals of Auditing Program Course

Introduction:

In this course, you will acquire a comprehensive understanding of traditional and operational auditing, along with proven tools and techniques to conduct effective audits. You will develop a strong foundation in documenting and evaluating internal controls and fieldwork techniques. Through specially designed case exercises, you will explore key aspects of internal auditing, including risk assessment, flowcharting, designing flexible audit programs, conducting audits, and utilizing audit results to address business challenges.

A significant emphasis will be placed on honing your communication skills, which are essential for successful internal auditing. You will learn how to conduct effective conferences with customers, write clear and concise audit findings, and effectively communicate audit recommendations. Through practical exercises, you will have the opportunity to apply and refine your communication skills in the context of internal auditing.

By the end of this course, you will have the knowledge and skills necessary to perform internal audits with confidence. You will be equipped with the ability to document and evaluate internal controls, adapt audit programs to various scenarios, and effectively communicate audit findings and recommendations. Join us on this educational journey as we provide you with the tools and techniques to excel in the field of internal auditing and drive positive change within your organization.

Course Objectives:

At the end of this Fundamentals of Auditing Program Course, learners will be able to do:

To help you understand how ISAs are used around the world
To examine the fundamental requirements of ISAs on a standard-by-standard basis
To provide guidance on how to use ISAs in practice with the aid of questions, case studies, and exercises

Who Should Attend?

This course will be beneficial to Auditors, Accountants, Accounts Clerks, Bookkeepers, Cost and Management Accountants, Financial Managers, Portfolio Managers, Financial Planners, and anyone interested in pursuing a career in Financial Accounting. Qualified accountants and auditors can use this course to ensure that they are up to date with all the current developments issued by the IAASB. An educational or vocational background in audit is recommended before commencing the Certificate in International Auditing.

Course Outlines:

1. Internal Auditing

IA Department Sample Charter
The Role of The Internal Audit Department
The Standards
Leading-Edge Trends In IA
What Makes An Effective Internal Audit Department
Differences Between an Internal Auditor/External Auditor
Events That Have Helped Create Growth In IA
The Foreign Corrupt Practices Act (FCPA)
COSO IC-IF
Federal Sentencing Guidelines
Sarbanes-Oxley
Fraudulent Financial Reporting
Internal Audit Department Sample Statement Of Purpose

2. Contemporary Internal Auditing

Types Of Internal Audits
Economy, Efficiency and Effectiveness
Operational Vs. Financial Auditing
Overview Of IT General Computer Controls (GCCS)
Steps In The Internal Audit Process: An Overview

3. Risk Assessment Strategies

Selecting The Client
Notifying The Client
Determining Risk
Performing Standard for Determining Risk
Effects Of Risk
Identifying Auditable Activities
Risk Factors
Trends In Risk Assessment
Risk Assessment Approaches

4. Planning and Preliminary Fieldwork

Strategies for Planning the Audit
Notifying The Client
The Planning Memo
Preliminary And Opening Meetings
The Importance of Preliminary Work
Strategies For Planning Effectively
Planning Resources

5. Documenting Internal Controls

Evaluating and Documenting The System Of Internal Controls
Performance Standard For Controls
Control Points
Cost/Benefit Considerations
Types Of Controls
The Control Environment
Methods Of Documenting Internal Controls
Internal Control

6. Audit Programs

Performance Standards, Scope and Developing The Audit Program
The Audit Program as A Guide
Criteria For Audit Programs
Audit Objectives/Scope/Test Steps
Sample Audit Program

7. Fieldwork Techniques

Performance Standards For Fieldwork
Audit Evidence
Handling Sensitive Evidence

8. Workpapers

Performance Standards for Recording Information And Engagement Supervision
Purpose Of Audit Workpapers
Workpaper Techniques/Templates
Electronic Workpapers
Tick Marks
Quality Assurance And Improvement Program