Internal Audit School

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 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