Developing the Annual Audit Plan

The course will prepare participants for developing the Internal Audit plan. Participants will assess applicable auditing standards for planning requirements while developing the technical and soft skills required to document and communicate the audit plan to clients and stakeholders. Participants will develop the skills necessary to identify internal, external, and industry risks.

This course will focus on teaching participants how to assess resource requirements, identify potential audit projects, and align audit work to organizational risks. This course will prepare participants to build an audit plan aligned with organizational risks and communicate the plan and subsequent updates to stakeholders.

Why you should take this course.

For users with an introductory knowledge of this topic, and are searching for additional information and its application.

Here are the learning objectives we'll cover.

• The learner will be able to identify and communicate audit planning requirements.
• The learner will be able to identify and document the internal and external operating environment.
• The learner will be able to identify and assess risks.
• The learner will be able to build an audit plan in line with organizational needs and resources.
• The learner will be able to communicate the plan and subsequent status updates to stakeholders.

Here are the topics we'll cover.

1. What Is The Standard?

   • The International Professional Practices Framework (IPPF)
   • Government Accountability Office (GAO)

2. Understanding Your Industry

   • The External Element: The Industry Standards
   • The Internal Element: Organizational Standards
   • The Cultural Element: People Standards

3. Know Your Organization

   • Know The Sector
   • Organizational Politics: The Board of Directors
   • Organizational Politics: The Audit Committee
   • Organizational Politics: The Subcommittees

4. Identify a Risk Assessment Methodology

   • The Why and the How
   • Know Your Options
   • Qualitative vs. Quantitative Characteristics
   • The Rating Scale
   • Surveys and Interviews
   • Information Gathering
   • Design Your Questions

5. Define Your Risk Universe

   • Industry Standards and Stakeholder Management
   • Classifying and Assigning Ownership
   • Finalize Your Risk Universe

6. Assess the Risks

   • The Different Types of Meetings

7. Coordinate With Others

   • Internal and External Collaboration

8. Assess Your Resources

   • Scoping and Planning
   • Capacity Planning
   • Techniques to Mitigate Gaps
   • The Preliminary Plan
   • How Can You Get More Coverage?

9. Communicate The Plan

   • Who Needs to Know?
   • What if They Don’t Agree?
   • How Do You Deliver the Plan?

10. Execute and Update

    • Monitoring and Reporting
    • Reassess and Notify