Best Practices for Bank Audit Committee - In-person
Strengthen Board Oversight of Risk, Internal Audit, Financial Reporting, Cybersecurity, Fraud, and Regulatory Compliance
Bank Audit Committees operate in an environment of heightened regulatory scrutiny, rapidly evolving technology, sophisticated fraud schemes, liquidity pressures, cybersecurity threats, and increasing expectations for effective Board governance.
The Best Practices for Bank Audit Committees CPE training event provides Audit Committee members, bank directors, Internal Audit leaders, risk professionals, and financial institution executives with practical guidance for fulfilling their oversight responsibilities.
This four-CPE-credit program examines how an effective Bank Audit Committee should oversee financial reporting, Internal Audit, External Audit, enterprise risk management, internal controls, regulatory examinations, fraud risk, cybersecurity, artificial intelligence, BSA/AML compliance, third-party risk, and management corrective actions.
The program emphasizes a fundamental governance principle:
The Board governs. Management manages the business and owns the risks. Internal Audit provides independent assurance. The Audit Committee provides focused and independent oversight.
The course is based on banking regulatory expectations, recognized governance frameworks, and practical experience working with executives, Boards of Directors, Internal Audit departments, and regulated financial institutions.
Details on Event Presentation
The sessions will be as follows:
Tuesday – 9:00 a.m. to 1:00 p.m.
We can schedule private courses on your timetable for two or more attendees.
We can schedule private courses on your timetable for two or more attendees.
NASBA Program Disclosure
Program Level of Understanding: Intermediate
Prerequisites: None
Advance Preparation: None
Delivery Format: On-site Training (Group-Live); Seminar (Group-Live)
NASBA Field(s) of Study: Auditing
CPE Credits: 16, based on 50 minutes of instruction per hour
CPE Event Highlights
This CPE training event is an excellent opportunity for internal audit professionals in the financial industry to earn CPE credits while expanding their knowledge and skills. The training event offers 16 CPE credits.
Internal auditors in the banking industry need to build a strong background in accounting, finance, and banking operations. Their audit work is focused on risk management, compliance and regulatory requirements, and internal control systems.
The training event covers a wide range of topics, including the regulatory environment, auditing standards, risk assessment, audit planning and execution, fraud detection and prevention, and emerging trends and best practices. The sessions are led by experienced banking industry professionals and provide real-world examples to illustrate key concepts.
Overall, the CPE training event is an excellent opportunity for professionals in the financial industry to earn CPE credits while expanding their knowledge and skills in internal auditing practices within the banking industry.
CCS is your special source for internal audit course and IT audit training both in-person and via webinars.
Learning Objectives
Improve the effectiveness of attendees by:
- Building a comprehensive understanding the banking industry and the role of internal audit within it.
- Understanding an overview the purpose and scope of internal auditing in financial institutions.
- Reviewing the functional areas with an banking entity operations.
- Overviewing the current compliance and regulatory issues
- Expanding the attendee's knowledge of risk assessment and internal control systems within the banking industry
- Enhancing the use of effective communication skills and the professionalism of the attendee.
Key Issues on the Agenda
Key Topics Include:
1. Introduction to Internal Auditing in Banking
- The role of internal auditing in banks and credit unions
- Audit objectives and types for financial institutions
- Critical distinctions between internal and external audits
2. Navigating the Regulatory Environment
- Overview of regulatory bodies, such as the Federal Reserve, FDIC, OCC, and NCAU
- Key regulatory requirements for internal audits in banking
3. Auditing Standards in Banking
- Standards from the Institute of Internal Auditors (IIA) and FFIEC guidelines
- Importance of aligning with industry auditing standards
4. Risk Assessment and Management
- Identifying and assessing risks unique to the banking sector
- Responding to audit risks and implementing effective internal controls
5. Planning and Conducting Audits
- Scope and objectives of audit engagements
- Effective audit procedures and reporting techniques
6. Fraud Detection and Prevention
- Assessing fraud risks in banking operations
- Practical techniques for detecting and preventing fraud
7. Emerging Trends & Best Practices
- Innovations like data analytics in auditing
- Industry best practices for improving internal audit effectiveness
8. Course Wrap-Up
- Recap of key lessons
- Practical steps for applying course learning to your organization
Summary of the Subject Matter
This CPE training event is designed to provide participants with a comprehensive overview of internal auditing practices within the banking industry. The training event covers a wide range of topics, including the regulatory environment, auditing standards, risk assessment, audit planning and execution, fraud detection and prevention, and emerging trends and best practices.
Participants will learn about the role of internal auditing in the banking industry, its importance, and its objectives. They will also learn about the regulatory environment within which banks operate, including the roles of regulatory bodies such as the Federal Reserve, OCC, NACU and FDIC.
The training event will cover auditing standards that apply to the banking industry, including those established by the Institute of Internal Auditors (IIA) and the FFIEC. Participants will also learn about the risk assessment process used in internal auditing, including risk identification, risk assessment, and risk response.
The training event will cover the steps involved in audit planning and execution, including audit scope, audit objectives, audit procedures, and audit reporting. Participants will also learn about the importance of fraud detection and prevention within the banking industry, and the role of internal audit in this process.
Finally, the training event will cover emerging trends in internal auditing, including the use of data analytics, and best practices for improving internal auditing processes.
Overall, the CPE training event provides a comprehensive overview of internal auditing practices within the banking industry. It is designed to equip participants with practical knowledge and skills that can be immediately applied to their work.