Internal Audit New Joiner Training: Operational Audit Toolset
– Audit Methods Toolkit for Examining the Three Components of the Internal Oversight System –
Description:
Internal audit is increasingly becoming a critical component of corporate governance. The increased focus on internal audit comes with increased stakeholder expectations. For management and the board to rely on the results of internal audit, they need to be robust. This can be achieved by focusing on the relevant issues and using the right methodologies.
The first part of this audit training is a deep dive into understanding the Internal Oversight System according to the G20 Risk Atlas, divided into the Internal Control System (ICS), the Risk Management System (RMS) and the Governance System (GS).
Participants will learn to apply various internationally recognised methodologies along the audit review process. The focus is on assessing the audit objective, the organisation’s processes and the associated roles, competencies, responsibilities, controls and communication channels. Ina risk-oriented and process-independent manner, Internal Audit examines the existing internal control system and assesses its effectiveness for corporate governance.
The auditors identify process points where there is a risk of negative deviation (risk).They assess whether management is adequately addressing the risks, for example by implementing risk-mitigating controls.
Participants will also receive practical tips and guidance for implementation in operational audit practice. The audit training is rounded off by a discussion of typical challenges in audit situations and how to deal with the auditee.
By the end of the course, participants will be familiar with the relevant international and national requirements for internal audit and be able to put the minto practice. They will understand and be able to assess the elements of the internal control system. This training ensures basic practical skills.
Topics:
- Systematisation and in-depth understanding of the three main audit areas according to IIA and ISA
- Key methodological risk categories for internal audit risk analysis.
- Audit risk channel-learning to distinguish inherent risks from operational risks in the risk atlas.
- Specific Rules for Internal Audit under the IIA Global Code of Ethics.
- Implications and consequences of independent organisational integration of internal audit.
- Proactive, sequential risk-based audit preparation.
- Gathering information and defining the scope of the audit.
- Distribution of audit information within the audit team.
- Requirements for internal control systems & identification and analysis of key controls.
- Techniques for visualising internal control systems.
- Requirements for the structure of working papers in different audit situations.
- Successful implementation in the exit interview.
- Concrete implementation options for your audit practice.
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 2.900+ training days and transformation services along an internal audit knowledge value chain.
Inhouse Training on demand
Conditions and Price
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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