Internal Auditing 101
Internal Auditing 101: Building a Strong Foundation in Internal Audit Basics
In an environment where transparency and accountability are more than just values—they're imperatives—internal auditing stands out as a crucial skill set. Our audit 101 training is specifically designed for individuals eager to build a robust foundation in internal auditing basics. This course doesn't just introduce you to the basics; it immerses you in the principles and practices that are essential for any professional looking to make a mark in the field of internal auditing.
Course Overview: "Internal Auditing 101" is an invitation to those who are new to the field or seeking to refresh their knowledge. It’s a meticulously structured webinar training event that combines theoretical knowledge with practical insights, ensuring participants are well-equipped to tackle the challenges of modern-day financial auditing basics and operational auditing basics.
Date and Time: Step into the world of internal auditing through our engaging and comprehensive training session, designed to fit into your busy schedule by attending this webinar.
Duration: This intensive course spans several sessions, dedicating 8 CPE Hours to your development as an internal audit professional.
Format: Delivered online as a webinar with a live instructor, this course provides a dynamic and interactive learning experience, enabling participants from across the globe to learn, share, and grow together.
Who Should Enroll:
- Individuals aspiring to start a career in internal auditing because of the demand for internal auditors is up.
- Professionals seeking to enhance their understanding of internal auditing basics, IIA standards, financial auditing basics, and other initial auditing profession fundamentals.
- Team members in finance, compliance, or risk management roles looking to broaden their skill sets.
- It does not matter what industry you are in this event is valuable to how to learn auditing! This is bank auditor training, insurance auditor training, utility auditor training, government auditor training, non-profit auditor training.....
What You Will Learn:
- The key concepts, standards, and practices of internal auditing bascis.
- How to effectively plan and conduct internal audits within an organization.
- Interanl audit risk assessment training which is key to the audit planning process.
- Strategies for identifying risks and assessing the effectiveness of internal controls.
- Techniques for communicating your findings and making impactful recommendations.
Course Highlights:
- Expert-led sessions that offer both depth and breadth of knowledge in internal auditing.
- Real-world case studies that provide a practical perspective on applying audit principles.
- Interactive discussions and Q&A opportunities that enrich the learning experience.
Take Your First Step Toward Auditing Excellence: Join us in "Internal Auditing 101" and pave your way to becoming a proficient internal auditor. This training is more than an introduction to the internal auditing basics; it’s a gateway to mastering the vital role of internal auditing in any organization's success and integrity. Equip yourself with the knowledge and skills needed to contribute to and uphold the principles of transparency and accountability in today’s challenging business environment.
Details on Event Presentation
Offered on Wednesday-Thursday once every six weeks in two four hour sessions for 8 CPE credits.
The sessions will run from 10:00 a.m. to 2:30 p.m. Central Time Zone. There will be a lunch break from 12:00 noon to 12:30 p.m. each day.
We can schedule private courses on internal audit on your timetable for two or more attendees.
NASBA Program Disclosure
Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 8, based on 50 minutes of instruction per hour
CPE Event Highlights
The seminar reviews and answers the following questions:
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What is internal auditing and what are auditing standards?
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How to approach audit risk assessment and individual audit planning?
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What are the best practices in conducting audit fieldwork?
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What are the key sections in internal audit reports?
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Learning Objectives
Attendees will:
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discuss interpersonal and team-building skills
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learn how to identify audit risks and plan fieldwork
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understand how an audit fieldwork is conducted
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learn how to evaluate and document internal controls
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discover the best techniques for gathering audit evidence
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understand the audit communication process
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Key Issues on the Agenda
Introductions
Section 1 - Overview of Internal Auditing-
Myths about auditing
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What is internal auditing?
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What is internal control?
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How can auditors manage risks?
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Accounting vs auditing
Section 2 - Internal Auditing - Yesterday, Today and Tomorrow-
History of internal auditing
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Today's internal auditor
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Tomorrow's challenges
Section 3 - Auditor Guidance-
Auditor's guidance sources
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IIA International Professional Practices Framework (IPPF)
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How to use the "Code of Ethics"
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COSO 2013 guidance
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Sarbanes-Oxley Act
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Guidance for the external auditor
Section 4 - Role of the Audit Team-
Increasing responsibilities
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Auditor skills
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Auditor personality profile
Section 5 - Internal vs. External Auditing-
Responsibilities
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Financial audits
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Materiality and misstatements
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Financial statement assertions
Section 6 - Planning the Audit and Assessing Audit Risk-
Internal Audit "Life Cycle"
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Internal Audit "Risk Assessment"
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The focus on risk management
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Money In
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Money Out
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Risk - Control - Objective
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Planning the individual audit
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Audit procedures
Section 7 - Conducting Audit Fieldwork-
Recognize the important internal controls
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Conducting an "audit walkthrough"
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"Fieldwork" skills
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Audit interviewing
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Effective questioning technique (S.P.I.N.)
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Active listening skills
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Audit evidence
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Testing internal controls
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Sample size
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Examples
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Workpaper characteristics
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Workpaper review
Section 8 - Using Audit Software-
Data analysis
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Audit management
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Flowcharting
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Risk management
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Reporting and content management
Section 9 - Concluding the Audit-
Document the exceptions and findings
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Documents in the audit reporting process
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Audit exit meetings
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Building rapport
Section 10 - Summary-
Summary of the Subject Matter
The "Internal Auditing 101" training event offered by CCS is comprehensive and essential basic audit training for individuals who are newly introduced to internal auditing or looking to expand their knowledge in the internal audit field. This internal audit training seminar provides a solid foundation in the essentials of Internal Audit 101 and is designed to introduce participants to the basics of internal auditing. The training covers the essential principles, practices, and processes of internal auditing, and provides a solid foundation for those interested in pursuing a career in internal auditing.
Attendees will learn about the purpose and scope of internal auditing, as well as its role in managing risk, improving operations, and adding value to an organization. The audit training event will also cover the different types of audits, audit planning, audit fieldwork, and audit reporting. The seminar covers the International Standards for the Professional Practice of Internal Auditing (IIA standards) and how they can be applied in day-to-day work.
Audit training will be conducted by experienced internal auditors and instructors who have practical, real-world experience in the field. Interactive case studies, group discussions, and hands-on exercises will reinforce the concepts learned during the audit seminar.
This event is suitable for individuals who want to build a career in internal auditing, including audit staff, auditors-in-charge, managers, and other professionals who support internal auditing activities. Attendees will receive a certificate of completion upon finishing the training.