Management

Training Course: Management of financial audit


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MA2050

28 Apr - 2 May 2024

Dubai (UAE)

Hotel : Residence Inn by Marriott Sheikh Zayed Road, Dubai

Cost : 4150 € Euro

Introduction

The development, monitoring and continuous improvement of a highly-integrated, internal audit function are essential for the continued financial success, stability and growth of world-class business entities. A well designed and effective internal audit system will provide verification and support that accounting and financial policies, procedures and controls are working adequately and will spotlight any significant matters that need attention.

Course Objectives:

During this program, you will learn how to:

  • Understand and recognize the purpose and design of an internal audit function along with practical methodologies in establishing departmental policies and procedures
  • Develop a comprehensive internal audit structure, including departmental staffing positions and lines of responsibilities
  • Plan an internal audit examination and communicate the findings and conclusions to an Internal Audit Committee and senior management
  • Implement the functions of an internal audit department, review various internal control processes and understand the objectives of preparing and presenting findings reports within an organization
  • Ensure that an internal audit function meets or exceeds best practices in terms of a peer group or industry standards

Target Competencies:

The Goals

  • Understand the role and functioning of an Internal Audit Department compared to the role and responsibilities of external auditors
  • Develop an Audit Committee Charter for a Board of Directors
  • Create personal descriptions and job requirements of an internal audit staff
  • Acquire knowledge of the different types and purposes of various audits as to applicability and function, including risk factors
  • Planning, notifying and implementing internal audit examinations for selected types of audits to be performed
  • Evaluate the effectiveness of in-place internal controls and security policies for organizational networks and information technology frameworks
  • Planning for an audit commencement conference meeting
  • Understanding relevant documentation as it pertains to professional standards and responsibilities as well as best practices
  • Understanding the need of establishing credibility for an internal audit team
  • Communicating audit findings and reports and addressing areas needing improvement
  • Planning audit exit conference meetings and distributing internal audit reports within an organization
  • Conducting post-audit reviews and compiling internal control updates for Boards of Directors
  • Developing audit risk and other risk-related assessments

The Benefits

  • Presentation and understanding of complex, financial topic terminology, concepts, applications, and associated best practices
  • Building professional knowledge and expertise in an ever-evolving business environment
  • Increased assurance in professional, technical and managerial skills and abilities
  • New opportunities to build relationships with other financial professionals through networking

The Results

  • Develops financial professionals and senior management by providing advanced education and training is an important, functional control area
  • Presents objectives that will further develop and/or improve achieving organizational goals
  • Broadens exposure to a wider scope of concepts relative to organizational planning and decision making
  • Presents opportunities to engage with other delegates and to pursue further business relationships through networking

Target Audience:

Anyone interested in Finance, Accounting, or related fields.

Course Outline:

Day (1) Defining and Developing the Internal Audit Process and Establishing Roles, Functions, and Responsibilities for the Internal Audit Department

  • Defining, developing and implementing an Internal Audit Function
  • Defining the distinctions and responsibilities between Internal and External Auditors
  • Identifying the Internal Audit Staff Positions
  • Developing the Audit Committee Charter for a Board of Directors
  • Review of Statements on International Auditing Standards Update and General Auditing Practice Issues
  • Identifying Internal Audit Staffing Requirements

Day (2) Examining and Understanding the Differences between Various Types of Audits, including Risk Factors

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

Day (3) Selecting, Procedural Planning and Commencing Internal Audit Examinations

  • Developing Streamlined Processes for Conducting Internal Audit Examinations
  • Identifying Effective Audit Programs for the Various Types of Audits
  • Evaluating 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
  • Evaluating Internal Controls Systems and Accessing Network and Computer Files and Folders
  • Effecting Changes to an In-Process Internal Audit Examination

Day (4) Managing and Monitoring Internal Audit Examinations and Methodologies of Ensuring Credibility for the Internal Audit Team

  • Planning the Audit Commencement Conference Meeting
  • Accumulating Relevant Documentation during the Internal Audit Process
  • Professional Standards and Responsibilities Associated with Internal Auditing Documentation
  • Tools and Methods for Ensuring a Smooth Audit Process
  • Techniques for Ensuring Credibility for the Internal Audit Team

Day (5) Issuing Reports of Audit Findings, Conducting Exit Conferences and Implementing Sound Corporate Governance Policies to Achieve Effective Internal Controls

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

Management

Training Course: Management of financial audit


Register Now
Quick Inquiry
Discount Group Download Brochure (14)

MA2050

28 Apr - 2 May 2024

Dubai (UAE) - Residence Inn by Marriott Sheikh Zayed Road, Dubai

Hotel : Residence Inn by Marriott Sheikh Zayed Road, Dubai

Cost: 4150 € Euro


  About Dubai

Dubai, located on the Persian Gulf, is one of the seven United Arab Emirates and one of the most popular tourist destinations in the world. The discovery of oil in the region has made Dubai extremely wealthy, allowing it to build the glittering skyscrapers that it is now famous for. That wealth is strongly in evidence in Dubai and visitors will see luxurious buildings and supercars aplenty. Perfect beaches and endless shopping opportunities are to key to Dubai's attractions. Flights to Dubai open up the city's cultural attractions to tourists, with beautiful mosques, museums and art galleries scattered throughout this ultra-modern metropolis.


  Things to do and places to visit in Dubai

Dubai's wealth has made it famous for building ever taller buildings and creating artificial islands off its shores. The city's hotels are luxurious and shoppers will love its extensive shopping malls which showcase all the world's top brands. Dubai's attractions don't end there. Dubai also caters to adventure lovers, who can jump in a 4x4 or on a board to speed over dunes outside the city. Local culture mustn't be forgotten either, and visitors have wonderful mosques to visit and old districts to explore. All that combined means that a flight to Dubai is sure to lead to an unforgettable holiday.

When visiting Dubai, be sure to:

  • Go to the observation deck of the Burj Khalifa, the tallest building in the world.
  • Admire the intricately beautiful Grand Mosque, which has the tallest minaret in the city.
  • Understand the local history and culture with a visit to the Dubai Museum.
  • Discover objects from the 6th century at Jumeirah Archaeological Site.
  • Go skiing – That's not a joke, the Mall of the Emirates houses a snowdome.
  • Go shopping at the Mall of the Emirates or the Dubai Mall.
  • Explore the desert surrounding the city – either by 4x4 or atop a camel.
  • Eat fantastic seafood at Dubai Marina.
  • Cool off at the Wild Wadi Waterpark.
  • Marvel at gorgeous Arabic calligraphy at Jumeirah Mosque, the biggest in the city.
  • Take a yacht tour around the artificial islands of Palm Jumeirah.
  • Haggle for souvenirs in one of the city's souks.
  • Wander around the traditional building in Bastakiya District.
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