Introduction
With businesses under closer scrutiny, it’s more important than ever that your company’s internal auditing meets standards requirements. This seminar will help you ensure that your company’s internal auditing systems fully comply with these standards. More than that, however, this seminar goes beyond the boundaries of accounting to provide real insight into the managerial, political, and technical dynamics of internal auditing.
Course Objectives of Effective Internal Auditing
By the end of this program, participants will be able to:
- Define internal auditing and internal control
- Identify “high-risk” processes—and build control systems that mitigate the risk
- Develop control-based internal auditing recommendations that truly help management meet tactical and strategic objectives
- Focus on the Investment in Internal Audit
- Document and Evaluate Internal Control Systems
- Audit Evidence and Audit Sampling
Course Outline of Effective Internal Auditing
Day 1: Internal Auditing and the International Business Environment
- Define Internal Auditing
- Identify the Components of an Effective Internal Audit Function
- Define Management Responsibilities of an Internal Audit Function
- Discuss the Similarities and Differences Between Internal Auditing and External Auditing
- Define the Various Types of Internal Audits
Day 2: The Road Map to Effective Internal Audits
- Discuss the Principles of Effective Audits
- Define Alpha and Beta Audit Risk
- Perform Compliance, Substantive, and Operational Tests
- Calculate Audit Risk
- Define the Relationship Between the Internal and Control Environment and Audit Testing
Day 3: Focusing the Investment in Internal Audit
- Relate the Concept of Internal Audit Strategies to the Audit Planning Process
- Develop a Long-Term Audit Plan for the Internal Audit Department Using Internal Control-Based Risk Assessment
- Design the Audit Plan and Prepare an Audit Planning Memorandum for an Individual Internal Audit Project Assignment
Day 4: Documenting and Evaluating Internal Control Systems
- Understand the Work Process
- Document the Work Process
- Develop Process Flow Diagrams and Process Maps
- Complete the Audit Internal Controls Documentation Matrix
- Finalize the Audit Objectives
Audit Evidence and Audit Sampling
- Discuss the Basic Concepts of Audit Evidence, and Their Impact on the Development of Audit Work papers
- Document Analytical Reviews
- Test and Gather Audit Evidence
- Complete and Document Compliance and Substantive Tests
- Select the Appropriate Testing Method
- Discuss Statistical Sampling Techniques
- Determine the Objectives of the Sampling Plan
- Develop the Sampling Plan
- Apply Attribute Sampling Techniques
- Extrapolate the Sample Results
- Ensure That Audit Work papers Support Audit Conclusions and Recommendations
Day 5: Planning and Conducting Successful Audit Interviews
- Plan Interviews
- Discuss a Framework for Planning, Conducting and Evaluating the Results of Interviews
- Overcome Resistance
- Manage Conflict with Management
- Listen Effectively
- Talk Effectively in a Non-Threatening Environment
- Get to "Yes"
- Understand the Nature of Confidentiality of Information
About Barcelona
Barcelona, the main city of Catalonia on Spain's east coast, is known for its fantastic weather and proud local culture. It is also Spain's second largest city and has all the cosmopolitan trappings you would expect. Among Barcelona's many attractions are the delicious seafood, stunning architecture and vibrant atmosphere. It began life as a Roman city and has remained important ever since. Today, it is a buzzing city offering more than enough reasons to look for flights to Barcelona. Between UNESCO World Heritage Sites, famous sports teams plus great food, there's no shortage of ways to amuse oneself.
Things to do and places to visit in Barcelona
Barcelona really does have something for everyone. The attractions of Barcelona include beautiful beaches to relax on, almost endless historical locations to explore, all the shops you could ever wish for, one of the world's most admired football clubs and world-class eateries - you may never want to leave. Luckily, with so much to do the city's compactness makes it easy to explore. Simply wandering through the streets is a great way to soak up the atmosphere.
Just some of the great things to do in Barcelona include:
- Marvel at Gaudi's masterwork, the Sagrada Familia.
- Sample the wide range of tapas in Barcelona's bars.
- See the somewhat surreal architecture of Antoni Gaudi.
- Wander through Park Guell, which offers great views over the city and out to sea.
- See the Cubist master’s early work in the Picasso Museum.
- Get lost in the winding streets of the Gothic Quarter, known locally as the Barri Gotic.
- Browse the upmarket shops along the Passeig de Gracia.
- Soak up the tranquil atmosphere in the Cathedral of the Sea.
- Watch the silky skills of FC Barcelona in a game at the Camp Nou.
- Enjoy authentic paella with fresh seafood.
- Climb Montjuic for spectacular views.