EXCELLENT TECHNIQUES IN AUDITING THE FINANCE, TREASURY AND ACCOUNTING FUNCTIONS

Objective:

By the end of the course the participant should be able to:

• The scope and the function of Internal Audit
• Internal Audit Activities and Standards
• Various Types of Internal Auditing Assignments
• Operational, compliance and financial internal audit
• Internal audit fieldwork guidelines and techniques
• Risk identification, controls identification and controls testing in Internal Audit
• Internal audit test tools
• Most Effective sampling techniques in an internal audit assignment in terms of sample size or sample selection
• Fraud and Internal auditor’s responsibility once fraud has been detected.

Content:

Risk and Internal Audit Overview

• Definition of risk and Types of risk in an organization
• Functions of management: planning, organizing, implementing and controlling
• Defining internal audit
• Internal audit as a function of corporate governance
• Distinguishing internal from external auditing
• Scope of internal auditing: the internal audit charter
• Staffing the internal audit function
• Role of an audit committee.

Internal Audit Standards

• Attribute standards
• Performance standards.

Types of Internal Auditing

• Performance and Operational auditing
• Financial auditing: accounting cycles audited by the internal audit function
• Compliance auditing.

Internal Audit Implementation: Fieldwork Guidelines

• Information gathered by internal auditors
• 4 qualities of information
• Sources and nature of information
• Assessing the degree of persuasiveness

Types of Engagement Procedures

• Internal audit test tools
• Observing, interviewing and examining records
• Internal audit working papers
• Best practices for managing working papers

Retention Policies

• Communicating fieldwork results and recommendations
• Legal considerations for communicating results
• Attributes of an observation or recommendation
• Disseminating results and exit meetings.

For Whom:

Internal auditors who are willing to enhance their professional knowledge and understanding.