(Click Category to List Courses)

4 - AAU - Accounting and Financial Auditing

AAU 204 - Audit Universe & Process Auditing

Code Start Date Duration Venue
AAU 204 25 September 2023 5 Days Istanbul Registration Form Link
AAU 204 20 November 2023 5 Days Istanbul Registration Form Link
AAU 204 25 December 2023 5 Days Istanbul Registration Form Link
Please contact us for fees


Course Description

The internal audit function helps the company’s administrators and mangers identify risks, evaluate and design implementation company’s processes, and make recommendations for improvement. An audit universe represents the potential range of all audit activities.  It includes all the business unites, process and operations that can be audited. The term is very wide and covers a wide range of aspects which contribute to the achievement of the department’s strategic objectives. In this course, participants will be aware of the coverage of this term, and will know steps of this process. The course also covers process auditing. This will help you manage all the activities and resources effectively and efficiently. 

Course Objectives

  • Understanding the scope of the audit universe 
  • Evaluating and promoting employees performance of their duties
  • Providing direct assistance in the form of audit reports
  • Steering the company to meet its objectives 
  • Opening the eyes of the management on improvement opportunities
  • Understanding the difference between procedure auditing and process auditing
  • Being able to write various auditing reports  

Who Should Attend?

  • Internal Auditors
  • Administrators 
  • Managers 
  • Consultants
  • Members of Board of Governors

Course Details/Schedule

Day 1

  • Risk and audit universe 
  • Definition of the audit universe
  • Terms of reference
  • Functions
  • Categories of auditable units
  • The audit plan 

Day 2

  • Deciding on audits
  • Sketching audit universe 
  • Defining objectives universe 
  • Audit coverage
  • Fieldwork
  • Approaches and process  
  • Coordination
  • Audit engagement plan
  • Risk assessment and prioritization

Day 3

  • Departmental corporate risk profile 
  • Follow-up and monitoring audits
  • Audits from other assurance providers
  • Chief audit executive’s annual overview report
  • Draft audit report
  • Management comments
  • Distribution of the audit report

Day 4

  • Develop risk universe 
  • Methods for generating risk universe 
  • Carry-over audits
  • Validate audit universe 
  • Definition of process auditing 
  • The need for process auditing 
  • Procedure audit vs. process audit 
  • Process Input-Output Model
  • Control of non-performing product

Day 5

  • Corrective action
  • Preventive action
  • Continual improvement of the quality management system 
  • Audit planning schedule 
  • Audit reporting 
  • Nonconformance reporting 
  • Process approach to audit plans
  • Process approach to checklists
  • Process approach to audit