Internal Audit Planning and Management

The course will cover all aspects of planning an audit, including considering the ISA requirements, and how to document the planning.  We will also look at common problems encountered during the planning of an audit.

CONTENT

• Independence and ethical considerations
• Obtaining an understanding of the client and its environment, including the client’s internal controls
• Materiality (including consideration of when different levels of materiality are needed) and performance materiality
• Preliminary analytical procedures
• Risk assessment, including the risk of fraud
• Designing an appropriate audit strategy and audit plan
• Planning the work of the audit team, including budgeting and staff allocation
• Recording the audit strategy and audit plan
• Completing the audit planning documentation

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.