Audit Engagement Management

– State-of-the-art audit engagement planning using a modern project management approach –

Description:

The economic principles have already arrived in internal auditing. The internal audit function acts in an environment of increasing regulation not only for banks but also for many other businesses. New tasks add to the pressure. Cost cutting also doesn’t stop at the doors of the internal audit function so an efficient approach to audit performance is without alternative. This includes perceivable added value to the organisation. However, the main focus is on the efficient use of the remaining scarce resources. This situation demands for effectiveness and efficiency in all phases of audit work.

It is obvious, that audit engagements have to be well prepared in advance. Usually auditors think of content. For example an auditor has to research some of the audit topics that are not her or his specialty and she or he has to prepare a work programme for reaching the audit objectives.

Thinking about efficient auditing this is not enough. For modern day audit engagements performed by interdisciplinary teams optimal resource management is a key factor for the sustainable success of the internal audit function.

However, there is extensive knowledge about resource management in inter-national standards on project management. These standards (e.g. PMBoK, PRINCE2, GPM, ISO 21500) include methods for planning, performing, and controlling projects that can be used for audit engagements analogously.

The goal of this training is to transfer the proven methods of project management to audit engagements. This includes planning (budgeting resources), performing, and controlling the engagement as well as communicating the current status and results with stakeholders during and at the end of the engagement. Auditors get practical tools for audit project management

  • to plan time and other resources,
  • choose successful audit teams,
  • lead audit teams to success,
  • ensure quality results with adequate quality management, and
  • coach the team during the engagement to increase the quality of the audit function sustainably

Topics:

  • Meaningful audit goals / objectives
  • Structure and organisation of audit teams
  • Planning of an audit engagement (time and resource budgeting)
  • Controlling of an audit engagement (managing delivery risk)
  • Engagement performance indicators
  • Leadership of audit teams
  • Coaching on the job

Training Team

Audit-Championship is a university spin-off. We focus on networking between science and practice. Audit-Championship provides thought leadership and innovative methods to support its customers across all industries in digital transformation. We support audit departments globally as well as national Internal Audit associations with yearly 1.800+ training days and transformation services along an internal audit knowledge value chain.

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Inhouse Training on demand

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Get in touch with us, we look forward to developing a great training event and didactical concept for you and your internal audit team.

Didactics | Methodology

We train you and your team on-site, or we can train you online worldwide in the form of a Virtual Training Series: Interactive lecture, discussion, practical example, case studies, reflection.

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