Advanced Auditing for In-Charge Auditors - OAG201

Overview

This course focuses on how in-charge auditors lead audits. You will review audit program development and changes, risk assessments, setting priorities, managing expectations, delegation, managing staff performance and overall productivity, reviewing workpapers, incorporating fraud detection techniques in your audit programs and stakeholder management. The focus is on managing the dynamics of an audit and applying project management principles to increase the effectiveness of the engagement.


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Tuition costs

$1,833

NASBA Certified CPE

24 Credits

Auditing

Why you should attend

You should attend because being the in-charge auditor requires balancing essential technical and soft-skills. This course covers what works and what does not, and why, so you can lead and manage your team effectively.

Who should attend

Financial, Operational, Information Technology and External Auditors with two or more years of audit experience.

What You'll learn

You will learn how to perform your duties as the in-charge so you can lead and manage the project and the team, set and manage expectations, communicate more effectively within and outside your department, and guide your team to success.

Prerequisites

  • Fundamentals of Internal Auditing (OAG101) or equivalent experience

This course focuses on how in-charge auditors lead audits. You will review audit program development and changes, risk assessments, setting priorities, managing expectations, delegation, managing staff performance and overall productivity, reviewing workpapers, incorporating fraud detection techniques in your audit programs and stakeholder management. The focus is on managing the dynamics of an audit and applying project management principles to increase the effectiveness of the engagement.

Audit Concepts:

  • definition of internal audit
  • responsibilities of the audit department
  • reasons audit must provide more value
  • internal audit capability model

Auditing Concepts: The In-Charge's Perspective:

  • The Changing Control Environment
  • hard and soft controls
  • changes since SOX
  • evolution of governance, risk & compliance (GRC)
  • FCPA/UK Bribery Act
  • COSO 2013

The In-Charge’s Perspective:

  • audit lifecycle—no two audit departments are identical
  • ten important roles of the in-charge
  • new skills required for in-charge
  • leadership competencies
  • workpaper review
  • performance evaluations

Preliminary Fieldwork & Program Development:

  • the importance of preliminary work
  • allocating/estimating time
  • fieldwork methodology selection and tools
  • data analytics/data mining
  • considerations for more productive audits
  • the audit program

Risk Assessment Strategies:

  • what is risk assessment
  • types of risks
  • criteria for effective risk assessment
  • identifying emerging risks earlier
  • trends in risk management
  • enterprise risk management (ERM)

Fraud Awareness:

  • impact of SOX in assessing fraud
  • ACFE Report to the Nations
  • PCAOB impact
  • areas of fraud occurrence
  • anti-fraud programs: creating value

Effective Communications:

  • I IIA Standard 2420—effective communications
  • successful meeting—do’s and don’ts
  • audit report trends
  • executive summary options
  • issue more timely audit reports
  • closing conference strategies

Marketing Internal Audit: Brand Ambassadors:

  • key factors in marketing and selling the audit function

T Applying Project Management to Internal Audit:

  • three themes of project management
  • five phases of the project lifecycle
  • three s’s of planning
  • monitoring & control
  • what to do when you fall behind
  • project approaches to audit teams
  • key factors to successful audit/project management
  • time estimates
  • examples of good audit/project management

Improving Productivity:

  • measuring internal audit productivity
  • planning, fieldwork, reporting and wrap up
  • potential productivity decreases
  • continually improving audit productivity
  • samples of old rules now routinely broken
  • winning departmental strategies
  • structuring your department
  • increasing auditor productivity

Best Practices in Internal Audit:

  • compendium of best audit practices

High Profile Events – Learning Opportunities:

  • learn from recent headline events, such as Wells Fargo, Madoff, Equifax, etc.
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Schedule your course

Use the table below to select the time and location that works best for you.

Timezone: America/New_York

May 2021

Instructor: Peter Higgins
May 24th, 2021-May 26th, 2021
SELECT THIS DATE
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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: www.nasbaregistry.org.

Ambrose Boswell’s Success Story

I love helping people, and I love solving problems. In IT, you get to do both! If this is a career you want to take, then, absolutely, dive in, and sign up!
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