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Skills of Auditing and Internal Control

Classroom based course with study materials, lecturer support and CPD Hours included

London Training For Excellence

Summary

Price
£4,320 inc VAT
Study method
Online
Duration
5 days · Self-paced
Qualification
No formal qualification
Additional info
  • Tutor is available to students
3 students enquired about this course

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Overview

Learning Objectives Define internal auditing and internal control. Identify “high-risk” processes—and build control systems that mitigate the risk. Develop control-based internal auditing recommendations that effectively help management meet tactical and strategic objectives. Focus on the Investment in Internal Audit. Document and Evaluate Internal Control Systems. Audit Evidence and Audit Sampling.

Description

Internal Auditing

  • Define Internal Auditing.
  • Identify the Components of an Effective Internal Audit Function .
  • Define Management Responsibilities of an Internal Audit Function.
  • Discuss the Similarities and Differences Between Internal Auditing and External Auditing.
  • Define the Various Types of Internal Audits.

The Road Map to Effective Internal Audits

  • Discuss the Principles of Effective Audits.
  • Define Alpha and Beta Audit Risk.
  • Perform Compliance, Substantive, and Operational Tests.
  • Calculate Audit Risk.
  • Define the Relationship Between the Internal and Control Environment and Audit Testing.

Focusing the Investment in Internal Audit

  • Relate the Concept of Internal Audit Strategies to the Audit Planning Process.
  • Develop a Long-Term Audit Plan for the Internal Audit Department Using Internal Control-Based Risk Assessment.
  • Design the Audit Plan and Prepare an Audit Planning Memorandum for an Individual Internal Audit Project Assignment.

Documenting and Evaluating Internal Control Systems

  • Understand the Work Process.
  • Document the Work Process.
  • Develop Process Flow Diagrams and Process Maps.
  • Complete the Audit Internal Controls Documentation Matrix.
  • Finalize the Audit Objectives.

Audit Evidence and Audit Sampling

  • Discuss the Basic Concepts of Audit Evidence and Their Impact on the Development of Audit Work papers.
  • Document Analytical Reviews.
  • Test and Gather Audit Evidence.
  • Complete and Document Compliance and Substantive Tests.
  • Select the Appropriate Testing Method.
  • Discuss Statistical Sampling Techniques.
  • Determine the Objectives of the Sampling Plan.
  • Develop the Sampling Plan.
  • Apply Attribute Sampling Techniques.
  • Extrapolate the Sample Results.
  • Ensure That Audit Work papers Support Audit Conclusions and Recommendations.

Planning and Conducting Successful Audit Interviews

  • Plan Interviews.
  • Discuss a Framework for Planning, Conducting and Evaluating the Results of Interviews.
  • Manage Conflict with Management.
  • Listen Effectively.
  • Talk effectively in a Non-Threatening Environment.
  • Understand the Nature of Confidentiality of Information.

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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