Internal Auditing – Level 2

Course schedule

Classroom Training:
DateVenueDurationPrice
2 - 6 Dec 2024London5 days£4,250

Please note: prices shown above are exclusive of VAT (20%).

Course Overview

Advance your auditing skills with this course, focusing on audit planning, execution, and reporting, along with the evaluation of internal controls and risk management processes.

Who Should Attend

Delegates who have experience of auditing, either directly as an auditor or from within the financial services sector seeking to develop a professional and best practice approach to the development of the internal audit function in private and public sector organisations and enterprises

Course Outcomes

  • Develop the role of the audit function in their organisation
  • Contribute effectively to refining organisational audit strategy
  • Engage continuous improvement and quality assessment within the organisation’s audit function
  • Make high impact presentations to auditing committees and senior management
  • Manage the integration of new technology
  • Test embedded financial crime systems and controls

Course Topics

Review of Key Audit Function Foundation

  • Review of key action points
  • Develop and test alignment of organisational systems and controls to prevent and mitigate financial and cyber-crime risks
  • Global best practice – case studies – lessons learned analysis
  • Key action points – delegate and manage action plan development

Risk – Based Auditing

  • Identifying areas of risk
  • Identifying new areas of risk
  • Classification and quantification of risk areas
  • Identifying potential interface of existing and new areas of risk
  • Developing audit and re – audit frequency in alignment with risk
  • Overview of emerging and evolving threats

Conducting Effective Audits

  • The auditor’s role as a consultant
  • Utilising audit reporting to inform organisational policy development
  • Continuous improvement initiatives and supervision
  • Measuring improvement – toolkit for objective measurement and demonstration of audit output improvements

Financial Crime Compliance

  • Record keeping procedures
  • Controls to identify potentially suspicious activities
  • Trade finance transactions
  • Trade processing controls by processing staff
  • Red flagging procedures
  • Pre-determined thresholds systems and controls
  • Escalations
  • Actions taken by senior management
  • Evidence and awareness of senior management evidencing how crime risks evolve in organisational type of business

Engaging with the Audit Structure

  • Making effective recommendations and business cases
  • Presenting information effectively
  • OSCOLA (Oxford University Standard for the Citation of Legal Authorities) for internal auditors
  • Contributing meaningfully to the development of the long – term audit strategy
  • Upgrading the profile of internal audit within the organisation

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