Advanced Strategic Internal Auditing Master Class

Advanced Strategic Internal Auditing Master Class
OBJECTIVE
This Advanced Level course is four days, and is designed to help participants get a full understanding of Strategic Internal Auditing and the role and impact of the internal audit function.
Learning outcomes for participants of this Advanced Strategic Internal Auditing course:
• To focus on critical enterprise risks and emerging risks from the audit function side
• To contribute effectively to addressing ongoing Organisational business management risks on an outlier basis
• To ensure that risk reporting is linked to the Organisation’s business objectives
• To use effectively risk reporting in order to advance dialogues around risk appetite
• To integrate risk reporting with performance reporting
• To assess and report on whether changes in the external environment affect the critical assumptions underlying the Organisation’s strategy

CONTENT
Review of Key Audit Function Foundations
• Review of key action points
• Developing organizational specific risk matrices
• Global best practice – case studies & analysis
• Key action points – Delegate action plan development
Risk Based Auditing
• Identifying areas of risk
• Classifying and quantifying risk areas
• Developing audit and re-audit frequency in line with risk
• Overview of emerging threats
Review of Key Audit Function Foundations
• Review of key action points
• Develop organisational specific risk matrices
• 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
Audit reports – Working with Stakeholders
• Effective post audit de-briefing
• Root cause analysis and remediation recommendations
• Developing departmental action plans with stakeholders: contributing to the delivery of compliance 2.0
• Managing conflict situations

FOR WHOM:
All Internal Auditors in both the Public and Private Sectors.
METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 11th – 14th Feb,2025
2ND BATCH: 29th July – 1st Aug,2025