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31 - AAU - Accounting and Financial Auditing


AAU-ON 202 - Risk Based Financial Auditing and Internal Control (3 Days)

Code Start Date Duration Venue Fees
AAU-ON 202 13 December 2020 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 10 January 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 07 February 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 07 March 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 04 April 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 30 May 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 27 June 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 25 July 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 22 August 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 19 September 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 17 October 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 14 November 2021 3 Days Online $ 1170 Registration Form Link
AAU-ON 202 12 December 2021 3 Days Online $ 1170 Registration Form Link
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Course Description

More and more banks and financial institutions nowadays tend towards using risk based internal auditing to minimize the risk of audit opinion going wrong. In fact, the activities involved in managing risks are identified as playing a central and essential role in maintaining a sound system of internal control. In the process of risk based internal audit, every audit assignment presents a different challenge to an audit firm, with no two audit assignments being the same. In this course, participants will learn how to go on the correct track in this process, first setting out internal control outlines, and then auditing the whole performance of their organizations. 

Course Objectives

  • Learning how to achieve enterprise security 
  • Setting out the fundamental points of a risk-based approach to auditing
  • Focusing on the most significant and risky auditable areas
  • Identifying the key activities in conducting preliminary engagement activities
  • Developing an ability to detect risks ahead 
 

Who Should Attend?

  • Financial auditors
  • Public sector auditors
  • Administrators 
  • Managers 
  • Consultants
 

Course Details/Schedule

Day 1

  • Overview of available auditing approaches & internal controls 
  • The difference between risk-based and traditional auditing
  • Introduction to potential risks in the financial statement 
  • Preliminary engagement activities
  • The formula for audit risk model 
  • Information required to formulate internal control process 
  • Preventive and detective controls
  • Activities included in internal control 
  • The steps of control activities 
  • Electronic information systems control 

Day 2

  • Monitoring the bank’s internal control activities 
  • Evaluation of internal control systems 
  • Correcting deficiencies 
  • Risk recognition and assessment 
  • Risk assessment goals 
  • Materiality
  • Complexity of Process

Day 3

  • Exposure to loss
  • Regulatory environment
  • Establishing annual plan 
  • Defining audit universe 
  • Lending operations
  • Treasury management
  • Deposit operations 
  • Branch operations 
  • Bank administration
  • Reporting