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4 - AAU - Accounting and Financial Auditing

AAU 325 - Monitoring And Developing The Internal Audit Function

Code Start Date Duration Venue
AAU 325 05 August 2024 5 Days Istanbul Registration Form Link
AAU 325 09 September 2024 5 Days Istanbul Registration Form Link
AAU 325 14 October 2024 5 Days Istanbul Registration Form Link
AAU 325 18 November 2024 5 Days Istanbul Registration Form Link
AAU 325 23 December 2024 5 Days Istanbul Registration Form Link
Please contact us for fees


Course Description

Internal Auditing is an essential and integral function of all leading international companies. A well designed and effective internal audit system will not only provide verification and support the accounting and financial policies, procedures and controls are working adequately, it will also ensure efficient and effective processes and procedures. Internal auditing is essential to improve performance and profitability protecting both the company and its employees. All organizations require an appropriate system of internal controls to protect itself from the growing risk of fraud. Delegates attending this course will have the passion to set up or improve their own organisation’s internal audit function. The development, observing and continued improvement of a highly-integrated, internal audit function is essential for the continued financial success, stability and development of world-class organisations. The participants will have the learn how to develop and/or improve their existing audit function and how to monitor policies, procedures and financial transactions and assets to international standards thereby securing continued financial success, stability and growth of world-class organization.

Course Objectives

  • Understand the Role and Function of an Internal Audit Department
  • Evaluate the Effectiveness of the Existing Internal Audit Function
  • Recommend Improvements to the Existing Audit Function
  • Monitor the Effectiveness of Policies, Procedures and Financial Transactions to International Standards
  • Understand Audit Risk and Efficiently Plan, Control and Record an Audit Assignment
  • Conduct Post-Audit Reviews and Compile Internal Control Updates for Boards of Directors
  • Explore through the features and functions of Excel®
  • Distinguish between data and output in spreadsheet architecture.
  • Examine financial statements in order to prepare.
  • Build compelling financial planning models.
  • Use forecasting techniques for budget planning.

Who Should Attend?

  • Team Managers and Supervisors
  • Non-Financial Professionals Whose Role is Subject to Audit
  • Audit Management and Staff Who Wish to Develop Their Audit Skills
  • Senior and Middle Management that Communicate with the Internal Audit Department
  • Financial and Non-financial Professionals Who May be Appointed to Support or Interface With an Internal Audit Committee

Course Details/Schedule

Day 1

  • Defining, developing and creating an Internal Audit Function.
  • Defining the distinctions and duties between Internal and External Auditors.
  • Identifying the Internal Audit Staff Positions.
  • Building up the Audit Committee Charter for a Board of Directors.
  • Survey of Statements on International Auditing Standards Update and General Auditing Practice Issues.
  • Recognising Internal Audit Staffing Requirements.

Day 2

  • Operational Audits.
  • Financial Audits.
  • Compliance Audits.
  • Fraud and Forensic Audits.
  • Information Systems Audits.
  • Survey of Current Year U.S. Audit Risk Alerts.

Day 3

  • Creating Streamlined Processes for Conducting Internal Audit Examinations.
  • Distinguishing Effective Audit Programs for the Various Types of Audits.
  • Assessing and Selecting Internal Audit Methodologies.
  • Notifying the Internal Auditee and Supervisors of the Internal Audit Examination and Promoting Cooperation and Assistance in Achieving
  • Common Goals.
  • Assessing Internal Controls Systems and Accessing Network and Computer Files and Folders.
  • Effecting Changes to an In-Process Internal Audit Examination.

Day 4

  • Arranging the Audit Commencement Conference Meeting.
  • Accumulating Relevant Documentation during the Internal Audit Process.
  • Proficient Standards and Responsibilities Associated with Internal Auditing Documentation.
  • Tools and Methods for Ensuring a Smooth Audit Process.
  • Procedures for Ensuring Credibility for the Internal Audit Team.

Day 5

  • Communicating Audit Findings and Suggestions for Areas of Improvement.
  • Arranging the Audit Exit Conference Meeting.
  • Distributing the Final Internal Audit Report within the Organization.
  • Conducting Post-Audit Reviews.
  • Inside Controls Updates for Boards of Directors.
  • Audit Risk Developments and Projects on the Near-Term Horizon.