Advanced Auditing for In charge Auditors Course
Corporate Finance, Banking and Auditing

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Advanced Auditing for In charge Auditors Course
Course Overview:
The In-Charge Auditor Training course is an eligible course aimed at trained financial, operational, IS and external auditors who have not less than two years of practice.
This course shows how to manage the whole audit process, but from the point of view of the person who is in charge of one. For a period of five days the participants will learn such essential skills as: planning effective audits, overseeing practice, designing an adaptable audit strategy.
The topics of the course include: risk assessment techniques, the COSO framework, control self assessment, business-like approach to project management and its effects on the audits. There shall be an emphasis on other areas including selling audit recommendations, reporting, and client relationships.
Trainees are trained on how best to provide leadership for audit teams, be effective in managing time and resources, and target areas of risks arising from fraud.
Course Objectives:
In this five day session, you will learn all of the elements involved in traditional and operational auditing from the unique perspective of the in-charge position. 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. This course covers preliminary fieldwork, audit program development, COSO, self-assessment, and improving the control environment.
Who Should Attend?
Financial, operational, IS and external auditors with two or more years of audit experience; quality assurance personnel; data security specialists
Course Outlines:
Managing Fieldwork
- How to plan a productive audit
- Ten key issues in fieldwork management
- Reviewing audit workpapers
- Evaluating auditors
- Maximizing your role as interface between the auditee, audit management, and the audit staff
Audit Concepts: The In-Charge Perspective
- Differences in planning for operational, financial, and compliance audits
- Auditing complex systems of internal controls
- Selling control findings
The Changing Control Environment
- COSO components and categories
- Impact on the in-charge
- workable approach
- The role of control self-assessment
Marketing and Selling the Audit Function 100+Tips
Risk Assessment Strategies
- Detailed review of five risk methods for developing audit programs
- Pivotal role in modern auditing
- Components of successful risk models
- Using risk assessment in building the annual audit plan
Preliminary Fieldwork, Planning, and Audit Program Development
- How to make the program provide added value
- Implementing go-no-go strategy
- Building an audit program when there are no previous programs
- Developing a flexible audit program
- Effective uses of the audit program as a management tool
- Critical role of analytical planning
- 25 preliminary business issues to address in program development
Fundamentals of Project Management
- a project defined
- issues that make project management relevant to internal audit
- why project management is critical to auditors
- elements of project management technology
- components of the project plan
- scheduling and controlling the work: checklists
- project scheduling methodologies
- bar charting and network diagrams
Audit Project Management Concerns
- project approaches to audit teams
- key factors to successful audit/project management
- the audit/project planning process
- using project management to effectively plan audits
- time estimate difficulties
- common workflow planning problems
- resource management
- strategies for improving time management
Fraud Awareness
- anticipating audits with a high potential for fraud occurrences
- indication of fraud
- action steps for preventing fraud
Dealing with Clients and Co-Workers
- client communication
- co-workers: getting through bad days in the office
Effective Communications
- getting reports out faster
- selling audit findings at the closing conference
- managing meetings
- current report-writing strategies
Case Studies
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