Objective:
- Gain an understanding of the role of the Audit Work Program
- Become familiar with Standards-based Requirements for Audit Work Programs
- Strengthen one’s skills in developing audit steps and audit work programs
- Understanding how Checklists and Internal Control Questionnaires can be used
Content:
Setting the Stage: The Role of Audit
- Defining audit evidence
- Impact of audit evidence on audit risk
- Requirements from auditing standards
- Audit charter
- Compliance
- Audit work plan vs. audit checklist
Audit Development Cycle
- Closing the Loop Process
Planning—Understanding the Business
- Identifying and understanding business objectives
- Document review
- Understanding the business processes
- Documenting business processes
Planning—Scope
- SIPOC
- Defining scope—what’s in and what’s out
- Setting expectations with Management
- Scope statements
Interviews
- Information gathering and fact finding
- Establishing rapport
- Whom to interview
- Interviewing approaches and styles
- Questioning styles and approaches
- Conducting the interview
- Interviewing rules and best practices
- Communication barriers
Engagement Risk Assessments
- Understanding risk
- Types of risks—operational/financial/reputational/regulatory
- Identifying risk
- Evaluating risk
- Prioritizing risk
Identification of Controls
- Types of controls
- Control objectives
- Entity-level controls
- Activity-level controls
- Evaluating controls: design vs. operating effectiveness
Documenting Processes and Controls
- Narratives
- Flowcharts and process flows
- Walkthroughs
For Whom:
- All Internal Auditors in the Public and Private Sectors.