Developing the Annual Audit Plan

Internal Audit

Overview

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 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

Learning Style

Instructor Led

Level

Intermediate

Who this course is for

Internal Audit Managers and Directors, Audit Committee members, and External Auditors.

NASBA Certified CPE

16 credits

Field of Study

Auditing

Length of course

16h

Prerequisites

Auditing for In-Charge Auditors
or equivalent experience

Advanced Preparation

None
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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.

Attendance policy for on-site and online instructor-led training

Students are expected to arrive on time for classes with the proper materials and attitude. An overall attendance rate of 100% is expected to fully absorb the materials and to complete labs. If you have an expected absence, please email support@acilearning.com or your instructor ahead of time. The number of CPEs awarded will be equivalent to the number of hours attended.

ACI Learning is registered with NASBA

ACI Learning is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: https://www.nasbaregistry.org/