Finance and Accounting

Training Course: Effective Internal Auditing


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FI2047

16 - 20 May 2021

Istanbul (Turkey)

Hotel : Radisson Blu Hotel, Istanbul Sisli

Cost : 4500 €

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

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 3:

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

Day 4:

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

Finance and Accounting

Training Course: Effective Internal Auditing


Register Now
Quick Inquiry
Discount Group Download Brochure (4)

FI2047

16 - 20 May 2021

Istanbul (Turkey) - Radisson Blu Hotel, Istanbul Sisli

Hotel : Radisson Blu Hotel, Istanbul Sisli

Cost: 4500 €


  About Istanbul

Few places compare to the vibrant, cosmopolitan city of Istanbul, whose enormous size straddles both Europe and Asia, forming a bridge between western and eastern cultures. Resting upon the natural harbor of the Golden Horn, the skyline of the once-Constantinople is pierced with minarets and ancient monuments that embody centuries of history. While it is brimming with historical landmarks and colorful markets, modern Istanbul is also well represented through its contemporary art scene, European-style café culture, world-class dining venues.


  Things to do and places to visit in Istanbul

Istanbul is teeming with attractions and landmarks from historic sights and unique cuisine to lively markets and unmistakable culture. It is a thriving city, with a myriad of things to do that skillfully manage to blend every aspect of both the contemporary and the historical world.

On a city break in Istanbul be sure to:

  • Visit a hammam, a traditional Turkish bath, whose origins date back to Roman times.
  • Marvel at the Hagia Sophia, Süleymaniye Mosque and Blue Mosque, Istanbul's most spectacular monuments that dominate the skyline.
  • Explore the Topkapi Palace Museum, one of Istanbul's most visited museums, home to over 80,000 artifacts.
  • Walk through the Basilica Cistern, an underground marvel built in the 4th century.
  • Be dazzled by the Grand Bazaar, one of the world's oldest and largest covered markets.
  • Go shopping for exotic products and Turkish delights in the Spice Bazaar.
  • Cross the bridge connecting Europe and Asia against the backdrop of the Bosphorus, or take a Bosphorus cruise.
  • Taste the diversity and flavor of Turkish cuisine.
  • Admire panoramas of the city from the Galata Tower.
  • Walk through Taksim Square, the city's dynamic square that never sleeps.
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