Internal Auditing for the Defense Contractor
The Internal Auditing for the Defense Contractor webinar CPE training program is designed to provide participants with a comprehensive understanding of internal auditing practices needed as a DoD Contractor. The event focuses on meeting compliance requirements and equipping auditors with the necessary skills and knowledge to effectively navigate the regulatory landscape.
Throughout the event, participants will gain a deep understanding of the Department of Defense (DoD) contracting environment and its unique regulatory framework. Compliance requirements, including the Defense Federal Acquisition Regulation Supplement (DFARS) and the National Institute of Standards and Technology (NIST) Special Publication 800-171, will be explored in detail.
The event covers a wide range of topics essential for internal auditors working in defense contracting. Participants will overview auditing principles, methodologies, and best practices, including an overview of Generally Accepted Government Auditing Standards (GAGAS) or the "Yellow Book." Emphasis is placed on developing audit plans, scoping audits, and conducting risk assessments to meet compliance requirements effectively.
Attendees will receive training on the unique aspects of auditing in the defense contracting environment, including an overview of the Defense Acquisition System and various DoD contract types. They will also learn to assess compliance and effectiveness of contractor business systems such as estimating systems, purchasing systems, and property management systems.
Overall, the CPE event "Internal Auditing for the Defense Contractor" offers a comprehensive and practical training program for internal auditors working in the defense contracting industry. It equips participants with the necessary knowledge, skills, and tools to navigate the compliance requirements and contribute effectively to risk management and process improvement efforts within their organizations.
Each attendee will receive 12 Auditing CPE Hours (YB). A certificate of completion will be provided.
Details on Event Presentation
The sessions will be as follows:
Tuesday – 9:00 a.m. to 3:30 p.m.
Wednesday - 9:00 a.m. to 3:30 p.m.
We can schedule private virtual events on your timetable for two or more attendees.
CPE Event Highlights
This CPE training event is an excellent opportunity for internal audit professionals working for a DoD Contractor:
- The CPE event focused on training internal auditors in the defense contracting environment to meet compliance requirements.
- The DoD contracting environment and the regulatory framework, including DFARS and NIST SP 800-171.
- Auditing principles, methodologies, and best practices including gained an understanding of the impact of the GAGAS (Yellow Book).
- Understand the financial management systems and practices specific to defense contracting. Participants were introduced to cost accounting standards, internal controls evaluation, and auditing financial statements and cost data.
- Training on DoD-specific auditing and contractor business systems. Topics included the Defense Acquisition System, various DoD contract types, and auditing contractor business systems for compliance and effectiveness.
- How cybersecurity and IT auditing are critical elements of the internal audit program in this enviroment.
Learning Objectives
Improve the effectiveness of attendees by:
- Understanding the DoD Contracting Environment
- Comprehending the Role of Internal Auditors
- Applying GAO Auditing Principles and Practices
- Evaluating Financial Management and Cost Accounting Systems
- Conducting DoD-Specific Auditing
- Assessing Cybersecurity Programs
- Conducting IT Audits
Key Issues on the Agenda
Introductions
Section : Introduction to DoD Contracting Environment and Compliance
Section 2: Auditing Principles and Practices
Section 3: Financial Management and Cost Accounting Standards
Section 4: DoD-Specific Auditing and Contractor Business Systems
Section 5: Cybersecurity and IT Auditing
Section 6: Audit planning and execution
Section 7: Communication and professionalism
Section 8: Summary and Wrap-Up
NASBA Program Disclosure
Program Level of Understanding: Intermediate
Prerequisites: Internal Audit 101 and/or Internal Audit 201
Advance Preparation: None
Delivery Format: On-site Training (Group-Live); Seminar (Group-Live)
NASBA Field(s) of Study: Auditing
CPE Credits: 12, based on 50 minutes of instruction per hour
Summary of the Subject Matter
The CPE event "Internal Auditing for the Defense Contractor" offered by CCCS provides comprehensive training on internal auditing in the defense contracting environment. Participants gain an understanding of the regulatory framework, compliance requirements, and unique challenges within the Department of Defense (DoD) contracting industry. The event covers auditing principles, methodologies, and best practices, including financial management, cost accounting standards, and contractor business systems. Cybersecurity and IT auditing in the defense context are also addressed.