Advanced Strategic Internal Auditing Virtual Course

This Advanced Level course is four days, and is designed to help participants get a full understanding of Strategic Internal Auditing and the role and impact of the internal audit function.

Learning outcomes for participants of this Advanced Strategic Internal Auditing course:

• To focus on critical enterprise risks and emerging risks from the audit function side
• To contribute effectively to addressing ongoing Organisational business management risks on an outlier basis
• To ensure that risk reporting is linked to the Organisation’s business objectives
• To use effectively risk reporting in order to advance dialogues around risk appetite
• To integrate risk reporting with performance reporting
• To assess and report on whether changes in the external environment affect the critical assumptions underlying the Organisation’s strategy

CONTENT

Review of Key Audit Function Foundations

• Review of key action points
• Developing organizational specific risk matrices
• Global best practice – case studies & analysis
• Key action points – Delegate action plan development

Risk Based Auditing

• Identifying areas of risk
• Classifying and quantifying risk areas
• Developing audit and re-audit frequency in line with risk
• Overview of emerging threats

Review of Key Audit Function Foundations

• Review of key action points
• Develop organisational specific risk matrices
• Global best practice – case studies – lessons learned analysis
• Key action points – delegate and manage action plan development

Risk – Based Auditing

• Identifying areas of risk
• Identifying new areas of risk
• Classification and quantification of risk areas
• Identifying potential interface of existing and new areas of risk
• Developing audit and re – audit frequency in alignment with risk
• Overview of emerging and evolving threats

Conducting Effective Audits

• The auditor’s role as a consultant
• Utilising audit reporting to inform organisational policy development
• Continuous improvement initiatives and supervision
• Measuring improvement – toolkit for objective measurement and demonstration of audit output improvements

Financial crime compliance 

• Record keeping procedures
• Controls to identify potentially suspicious activities
• Trade finance transactions
• Trade processing controls by processing staff
• Red flagging procedures
• Pre-determined thresholds systems and controls
• Escalations
• Actions taken by senior management
• Evidence and awareness of senior management evidencing how crime risks evolve in organisational type of business

Engaging with the Audit Structure

• Making effective recommendations and business cases
• Presenting information effectively
• OSCOLA (Oxford University Standard for the Citation of Legal Authorities) for internal auditors
• Contributing meaningfully to the development of the long – term audit strategy
• Upgrading the profile of internal audit within the organisation

Audit reports – Working with Stakeholders

• Effective post audit de-briefing
• Root cause analysis and remediation recommendations
• Developing departmental action plans with stakeholders: contributing to the delivery of compliance 2.0
• Managing conflict situations

FOR WHOM:

All Internal Auditors in both the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

DATE:

1ST BATCH: 23rd – 25th May, 2022          

2ND BATCH: 7th – 9th Nov, 2022