Part of Internal Audit & Fraud London Summer Schools 2012.
Attend two courses in one week and save 10% (over £300)
Part 1: Developing the Annual Audit Plan
Best practice, tools and techniques to position internal audit as a value-added business partner
You will learn:
- Who should be consulted – including whether there is a risk you are consulting too widely?
- Killer questions and follow up questions to help ensure that you don’t get too many ‘turkeys’ on the plan
- Best practice ways of linking the IA plan to key risk areas, whilst delivering core assurance areas
- How to factor in value and value add into the planning process
- How to address differences between Senior Management and the Audit Committee in relation to what they would like IA to do
- How to effectively address the question “Do you have enough resource”? in a way that gets a constructive debate going, without being a too overt plea for resource
- Best practices around longer term planning horizons, the annual plan and ad hoc audit work
- Ways to use the planning process as a way of deepening the relationship between the head of audit and senior stakeholders
In this intensive, highly interactive two-day seminar we will review best practices in Internal Audit planning so that the work of the Internal Audit function is focused on the right areas.You will cover, in detail, how to develop a business focused, objective-based audit plan that will zero in on business issues of key importance and maximise the value of expended audit resources.
Throughout the course, best practice will be shared alongside useful tools and techniques to help ensure that the IA plan is demonstrably focusing on the right areas. You will learn how to incorporate the organisation’s key data into the plan and, as a result, establish the audit strategy of the future. You will focus on designing a planning methodology that emphasises outcome rather than output. This course will enable you to focus on adding real value to the organisation by creating a concrete annual audit plan which is totally business-focused.
Course Director: James Paterson
James Paterson is a leading trainer in the risk, audit and assurance field; covering topics such as assurance mapping, lean auditing and a induction masterclasses for new heads of audit. James has over 19 years experience across a range of finance roles. He became Chief Internal Auditor for AstraZeneca in 2002, and led the function for over 7 years, picking up a range of “best practice” accolades along the way. He is a regular keynote speaker on audit and risk issues across the globe; speaking recently at the Global IIA Conference in Malaysia. He has also had a number of articles published in risk and audit journals.
Part 2: Risk Based Internal Auditing
Significantly change the way internal audit operates within your organisation
You will learn how to:
- Uncover how to adopt a risk based approach to internal auditing
- Review enterprise risk management and how to effectively establish a framework in your organisation
- Evaluate internal audit’s readiness to adopt a risk based approach
- Develop a plan for how to implement risk based auditing
It has become abundantly clear from past corporate missteps and such pronouncements as the COSO ERM model, the recently issued GTAG on continuous auditing and risk assessment, and the IIA position paper on enterprise risk management in the UK and Ireland, that the internal audit department must align itself very closely with the business in order to assume a vital role in the overall success of the organisation. In addition, increased reliance of senior management and the audit committee on the competence of the internal audit staff necessitates that IA maximize the quality and impact of all of its efforts. To fulfill all of these expectations many organizations are taking a risk-based approach to their audits.
In this intensive three-day seminar you’ll see for yourself why audit functions that focus their efforts on significant risks are able to concentrate their resources on issues that drive their businesses. You will learn how to put in place a risk based approach that is truly business oriented. You will gain an understanding of what is necessary to make your audit function totally risk based; learn tools, techniques and methodologies that will boost auditor productivity and bullet-proof’ audit plans; and discover how to convert the entire audit process to a risk-based approach that will take you from planning all the way through to report writing. Throughout the seminar class exercises will allow you to hone your risk-based auditing skills. You’ll leave this session with a specific understanding of what is necessary to be risk-based and how to implement this approach.
Course Director: Liz Sandwith
Liz Sandwith has been involved in the internal auditing profession since the late 1980’s. She has worked in the public sector including central and local government and also in the private sector. In 1995 she set up her own business providing internal audit and risk management to a number of businesses from central government and local government through housing associations, regional development agencies and including a UK Broadcaster – Channel 5.
Liz has been involved in delivering internal audit training since 1991. In order to keep up to date with new internal audit tools and techniques and be able to add realism and practicality to her training course Liz ensures that 75% of her time is spent delivering internal audits. Liz also speaks at Internal Auditing conferences and was President of the IIA-UK and Ireland 2001-2002. Her training courses receive high ratings from the delegates in terms of content, delivery and the practical opportunity to ‘do’ not simply just listen.