By the end of this course delegates will be able to:

• Have a well-grounded foundation in the concepts of traditional and operational auditing
• Gain proven tools and techniques for performing value-added audits
• Use case studies to learn critical audit tasks
• Learn about assessing risks, flowcharting and solving business problems
• Focus on writing audit findings and selling your recommendations

Financial, operational and IS auditors with less than two years of audit experience; quality assurance personnel; data security specialists

The Role of Internal Auditing

• Internal auditing defined
• The goals and objectives of internal auditing
• What it takes to be a successful internal auditor
• Adapting to a changing environment
• Operational, financial and compliance auditing
• Definitions and uses, similarities and differences
• Leading-edge trends
• Ethical responsibilities of the internal auditor

Internal Auditing Standards

• Purpose of the standards
• General standards
• Specific standards
• Statements on internal auditing standards

Modern Internal Auditing

• Growth from operational and compliance auditing
• The modern internal auditing process
• Assessing how the system is functioning
• Determining that risks and exposures are as minimal as perceived
• Evaluating test data for future impact

Analyzing Internal Controls

• A look at COSO
• Elements of a system of internal control
• Control techniques
• Analysing the control environment

Risk Assessment

• Planning memo
• Defining risk and risk assessment
• Risk assessment standards
• Identifying risks
• Risk assessment strategies, methodologies, factors, and trends
• Using key risk indicators

Planning and Preliminary Fieldwork

• Planning memo
• Objectives of the opening conference
• Conducting the preliminary survey
• Strategies and techniques for conducting the interview
• 25 resources to use when planning your audits
• Developing an audit strategy

Documenting Internal Controls

• Cost/benefit considerations
• Documenting and analyzing internal control procedures
• Case studies

Audit Programs

• Characteristics and criteria
• Developing test objectives
• Revisions and changes during fieldwork
• Case study

Fieldwork Techniques and Applications

• Sampling methodologies
• Workpaper techniques
• Effective time management
• Elements of audit evidence
• Quality assurance
• Maintaining the communications link during the audit

Effective Communications Strategies

• Developing effective audit findings
• Selling internal audit recommendations
• Fundamentals of audit report writing
• Successful report formats
• Preparing for closing conferences
• Following up corrective actions
• Strategies for improving communications
• Case study

Information Systems Auditing

• What senior management and the board of directors expect
• Using technology to increase efficiency
• Integrating traditional is audits into modern internal audits
• Understanding data flows
• The impact of technology shifts on primary audit areas

CDGA attendance certificate will be issued to all attendees completing minimum of 75% of the total course duration.