Auditing Organizational Processes And Procedures For Results

By completion of this workshop participants will be able to:

– Understand the nature of compliance and substantive testing

– Understand the various techniques of audit sampling

– Understand the principle of evaluation of the risk of material error or misstatement going undetected

– Discuss the use of sampling as a valid audit technique including its limitation

CONTENT

*Audit Testing

– Compliance testing

– Substantive testing

*Audit Sampling

– Basis of sampling

– Points to consider before sampling

– Sampling risk

– Designing the sample

*Sampling Methods

– Random sampling

– Simple sampling

– Random systematic selection

– Value weighted selection

*Analytical Review Procedures

– Definition and introduction

– Key analytical review procedures

– Documentation

– Timing

– Challenges

*Analytical Procedures

– Comparisons with previous periods

– Trends and ratio analysis

– Budgets and forecasts

– Challenges in output levels

*Accounting Systems and Internal Controls

– Internal controls

– Control procedures

– Limitations of internal controls

– Control activities in specific areas of a business

FOR WHOM: All Internal Auditors and Risk Managers in 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.