Internal Audit School

Internal Audit
Internal Audit School Overview
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Hello ladies and gentlemen, thank you for tuning in to a Ci learning we want to take the time and introduce you to the course that you're about to take a journey on with us this is the internal audit school and I'm gonna be your host Wes Bryan I have about a decade experience and technical training more specifically focusing on things like I T and hold various I T certification Industry recognized certifications now you're not here for me along with this journey, who is going to be leading his is Doctor Hernani Murdoc Doctor Murdoch, thank you so much for joining us and really just allowing me to be a part of this course, can you tell our viewers a little bit about your background? How long have you been in the industry and what are some of the credentials behind your name when it comes to internal audit school? Thank you West yes, I started after college in banking I worked there several years in loan origination and servicing, also worked as a business analyst for a couple of years and then I moved into internal audit where I was able to audit organizations in insurance, manufacturing, transportation, telecom universities government I did work in the United States and abroad, small and large organization so I've been able to see a lot of things within organizations how they operate. And I'm also a certified internal auditor and I have a certification in risk management assurance. And I've written a few books on topics that pertain to what internal auditors do .Doctor you know when it comes to what the course is about if I'm sitting down and I've opened up the A C I learning catalog and we're about to embark on internal audit school what kind of professional would be taking this course and what should they expect to get out of it? So this course is designed for individuals who are doing a lot of the audit itself and it can be staffed, it can be seniors, it can be managers and supervisors of engagements and even those who have a high ranking position within automate also benefit from it the way it is structured, it begins by taking a quick look at what internal auditing is all about so going over the life cycle of an audit, looking in terms of what the priorities of the auditors and looking at objectives, risks and controls and audit steps. Looking at risk and controls and procedures to test those and then what it does it shifts into a view of different aspects of the organization. So how to apply those principles and concepts in different aspects of the organization. Looking at things, for example including purchasing and contracting projects, reviews, looking in terms of accounting activities like account receivable payable budgets looking in terms of inventories and fixed assets. Can also within HR not only looking at Western employee file and those kind of compliance elements but also looking beyond that succession planning looking at performance evaluations, disciplinary matters, looking in terms of their recruiting recruitment process looking in terms of how the organization looks at some of the I T elements around infrastructure IT general controls looking at supply chain and looking at the future of internal auditing. So it's very hands on looking at not only the concepts but also the practices that will allow auditors to do their jobs well All right doctor Murdoch thank you so much and I'm excited for this journey and we're excited to have the viewers watching a ci learning join us as we get started in the internal audit school. [BLANK_AUDIO]

Overview

Participants will build on the fundamentals of modern internal auditing and practice how to conduct operational audits and develop audit programs for auditing business processes, including Purchasing, Contracting, Vendor Selection, Marketing, Sales, Human Resources, IT general controls, management, and accounting functions like Accounts Payable, Accounts Receivable, Inventory, Payroll, Treasury, and Fixed Assets.

Why you should take this course.

For users with an intermediate knowledge of this topic, and are searching for a deeper understanding of its evolving complexities.

Here are the learning objectives we'll cover.

  • Recall and describe the definition of internal auditing and the methodology to plan, conduct, and report on the results of audit and consulting engagements.
  • Relate and apply the definition of internal auditing and its methodology to reviews of various functions within organizations and create audit programs.
  • Identify current best practices and evaluate opportunities to incorporate them into audit and consulting engagements.
  • Evaluate emerging technological and procedural developments that are shaping the future of internal auditing.

Here are the topics we'll cover.

  1. Key Elements of Operational Auditing

    • The Definition of Internal Auditing
    • The Focus of Internal Audit
    • The Definition of Operational Auditing
    • Key Objectives of Operational Audits
    • The 8 Es
    • Important Trends
    • Risk and Risk Management
    • Definition and Key Elements of Internal Control
    • Types of Internal Controls
    • Financial Assertions
    • Audit Tools and Techniques
    • Fraud and the Red Flags
    • Antifraud Programs
  2. Components of Operations Auditing

    • Phases of Operational Audits
    • 10 Key Considerations
  3. Auditing Purchasing and Contracts

    • Auditing Purchasing
    • Contracting and Contract Management
    • Project Management
    • Vendor Viability and Competence
    • Approved Vendor List maintenance
    • Bidding
  4. Auditing Marketing and Sales

    • Product and Service Delivery
    • Promotion and Advertising
    • Pricing and Discount Policies
    • Sales Management
    • Public Relations
  5. Auditing Human Resources

    • HR – General
    • Recruitment
    • Succession Planning
    • Staff Training and Development
    • Staff Evaluations and Disciplinary Matters
  6. Auditing Finance, Treasury, and Accounting

    • Treasury, Bank Accounts and Relationships
    • Payroll
    • Accounts Payable
    • Accounts Receivable
    • Fixed Assets and Capital Expenses
    • Budgeting and Monitoring
    • Inventories
  7. Auditing Information Technology

    • IT Processing
    • Back-up and Storage
    • System and Operating Software
    • System Access Control
    • System Development
  8. Auditing Supply Chain

    • The Value Chain
    • Measuring Performance
    • Shipping and Incoterms
    • Distribution Centers
    • Returns Management
  9. Auditing Management and Corporate Governance

    • Management Tasks and Responsibilities
    • Strategic Planning and Budgeting
    • Entity-level Controls
    • Auditing Ethics and Culture
    • Corporate Social Responsibility
    • Ethics Training
    • Whistleblowing Programs
  10. The Future of Operational Auditing

    • Continuous Auditing and Monitoring
    • Skills, Roles and Responsibilities
    • Operational Quality and Control

Learning Style

On Demand

Level

Advanced

Includes

Assessment

Who this course is for

Internal and External Auditors, Risk and Compliance professionals, and IT Auditors who require a comprehensive approach to operational audits of core business functions.

NASBA Certified CPE

32 credits

Field of Study

Auditing

Length of course

32h

Advanced Preparation

None
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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/