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Tools and Techniques for the Internal Auditor - Block 1 (TTB1) 5-9 October 2020 (Online)
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 Export to Your Calendar 2020/10/05 to 2020/10/09
When: 5-9 October 2020
8:30 AM
Where: Online Via Zoom
South Africa
Presenter: Leani van Heerden
Contact: Project Coordinator: CPD and Events
011 615 0355


Online registration is available until: 2020/10/05
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Presenter/s:

Leani van Heerden

Course Name:

Tools and Techniques for the Internal Auditor – Block 1 (TTB1)

Duration:

10 X 4 Hour Online Sessions

CPD Hours:

40

Fees

ex VAT

inc VAT

 

Member:

R 9 173.00

R 10 548.95

 

Non-Member:

R 11 486.00

R 13 208.90

Course Objectives

Any person entering internal audit should be aware of the essential elements of internal auditing.

 

How Will This Course Benefit You?

Upon completion of this course, the first of a series of four tools and techniques blocks, participants will have a comprehensive understanding of the essential elements of internal auditing.

 

Note: Pre-course reading will be required relating to the IPPF, specific reference to the Mandatory Elements (Definition of Internal Auditing, Code of Ethics and the Attribute and Performance Standards)

 

On-line Course Outline

The course is highly interactive and will cover the following:

 

Day 1 Session 1: 08:30 – 12:30

  • Introduction of Participants and Setting of objectives
  • The Internal Auditor’s Roles and Responsibilities
    • The misconceptions relating to the role of internal auditing (‘What?’)
    • Reasons why clients do not appreciate the need for internal auditing(‘Why?’)
    • Practical approach to address the identified root causes (‘How?’)

 

Day 1 Session 2: 13:00 – 17:00

  • The Internal Auditor’s Roles and Responsibilities
    • The definition of internal auditing explored (and all key concepts explained in simple English)
    • The value proposition of internal auditing
    • Case study: “Auditing the Fish and the Cat” practically exploring the role definition of internal auditing, as well as the process of internal auditing and risk management.
    • Key concepts of internal auditing explored aligned to the above case study
  • Different types of audits – relating back to 1st bullet point
  • Roles and responsibilities of internal audit – relating back to the 1st bullet point.

Day 2 Session 1: 08:30 – 12:30

  • Re-cap Day 1
  • Internal Professional Practices Framework of Internal Auditing (“IPPF”)
    • Mission
    • Ten Core Principles
    • Code of Ethics
    • Case study: Syndicate groups discussing and answering theoretical and CIA exams type questions (multiple-choice)

    Day 2 Session 2: 13:00 – 17:00

    • Attribute Standards
    • Performance Standards
    • Case study: Syndicate groups discussing and answering theoretical and CIA exams type questions (multiple-choice)

(Note: pre-course reading will be required – International Professional Practices Framework (“IPPF”)

Day 3 Session 1: 08:30 – 12:30

  • Re-cap Day 2
  • Fundamentals of Risk Management and Internal Control
    • Understand management’s and internal audit’s responsibility for risk management
    • Key risk management components and factors (define risk, cause, impact)
    • Understand the difference between “inherent” and “residual” risk; “adequacy”, “effectiveness” and “efficiency” findings
    • Understand the key steps of the risk management process (and the internal audit process)
    • Introduce and discuss the COSO ERM best practice framework
    • Numerous practical risk case studies

    Day 3 Session 2: 13:00 – 17:00

    • Understand management’s and internal audit’s responsibility for control
    • Key internal control components and factors (define internal control)
    • Understand key categories of controls (identify tools for documenting and evaluating internal controls
    • Numerous practical video clips case studies – participants to identify the key risks and recommended controls from the various scenarios

Day 4 Session 1: 08:30 – 12:30

  • Re-cap Day 3
  • The Basic Audit – 4 Stages of the Internal Audit Process
  • Fundamentals of Audit Methodology – Performance of Audit Work (Performance Standard 2100 and 2200)
  • Overview of the audit process (4 Main Stages of the audit process)
  • Explanation and understanding of the process in detail
  • Detailed phases –
  • Planning the audit
    • Establishing the audit objectives and scope of the audit
    • Executing the preliminary planning (includes all steps, in terms of identifying applicable legislation, policies and procedures, audit reports, etc)
    • Developing the control risk matrix
    • Developing the audit program
    • Fieldwork stage (execute the audit program, examine, evaluate and document information during field work)
    • Reporting stage (developing)
    • Communicate results (reporting)
    • Follow-up procedures (follow-up)
    • Time management

     

    Day 4 Session 2: 13:00 – 17:00

  • Documenting and Evaluating Internal Controls (Performance Standard 2100 and 2200)
  • Understand the purpose of the preliminary survey
  • Determine which controls are adequate and properly designed and functioning effectively
  • Compare and discuss audit tools for documenting control systems, including narratives, flow charts, ICQs, and risk/control matrices
  • Learn the advantages / disadvantages of each tool
  • Case study: flowcharting and control risk self-assessments
    • The Audit Program(Performance Standard 2200)
  • Understand the thought process involved in developing an audit program
  • Review guidelines for preparing audit programs
  • Learn to develop audit objectives, audit scope and program test steps
  • Case study: developing audit program procedures to assess controls
    • Workpapers and Audit Evidence(Performance Standard 2300)
  • The Standards’ requirements
  • Example of an audit work paper
  • Key requirements in terms of a work paper
  • Typical work paper organisation and contents
  • Nature of audit evidence
  • Types of audit evidence

     

    Day 5 Session 1: 08:30 – 12:30

    • Re-cap Day 4
    • Developing Audit Findings(Performance Standard 2400)
  • Understand when it is an audit finding (five elements of an audit finding)
  • Getting to the root cause (two methods); agreeing and reporting on the root cause
  • Developing the audit findings and value-add recommendations by addressing the identified root cause(s)
  • Follow-up procedures (follow-up) (Performance Standard 2500)
  • Management Acceptance of Risk (Performance Standard 2600)
  • Numerous practical case studies

     

    Day 5 Session 2: 13:00 – 17:00

    • Interpersonal Skills and Interviewing
  • Gain insight into behavioural skills and communication techniques to improve your ability to communicate effectively with others
  • Ice-cream model and Types of personalities
  • Learn basic techniques for effective interviewing
  • Exercise: Audit interview role playing (case studies throughout the course)
    • Teamwork(addressed in the above)
  • Understand the value of being an effective team member
  • Determine who should be on your audit team
  • Working ‘with’ the customer (getting the customer ‘on board’)
  • Practical exercises in terms of teamwork principles(throughout the course)
  • Case studies: Please refer to “Method of Evaluation” below
  • Conclusion – What have we learned?

 

Method of Evaluation

 

Numerous case studies, role-plays and video clips will be used in making the theory real and alive for the participants in order to provide them with practical “hands-on” exposure over the 5-days. The course is highly interactive and group discussions and presentations will be conducted from Days 1-5; participants will also be presenting their results. These presentations will further enhance the learning as well as providing input into the presenter’s assessment of the level of learning achieved

 

Who should attend?

 

Level 1

Entry or introductory level for those requiring a fundamental understanding of the subject.

Level 2

Internal auditors who are already practicing internal audit and have a basic understanding of the subject

 

Please be advised of the event terms and conditions.
Delegates are also requested to review the content and the levels of the courses presented before booking, to ensure they are attending the right course.

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