Building Results-Driven Audit Work

OBJECTIVES
• Gain an understanding of the role of the Audit Work Program
• Become familiar with Standards-based Requirements for Audit Work Programs
• Strengthen one’s skills in developing audit steps and audit work programs
• Understanding how Checklists and Internal Control Questionnaires can be used

CONTENT
Setting the Stage: The Role of Audit
• Defining audit evidence
• Impact of audit evidence on audit risk
• Requirements from auditing standards
• Audit charter
• Compliance
• Audit work plan vs. audit checklist

Audit Development Cycle
• Closing the Loop Process

Planning—Understanding the Business
• Identifying and understanding business objectives
• Document review
• Understanding the business processes
• Documenting business processes

Planning—Scope
• SIPOC
• Defining scope—what’s in and what’s out
• Setting expectations with Management
• Scope statements

Interviews
• Information gathering and fact finding
• Establishing rapport
• Whom to interview
• Interviewing approaches and styles
• Questioning styles and approaches
• Conducting the interview
• Interviewing rules and best practices
• Communication barriers

Engagement Risk Assessments
• Understanding risk
• Types of risks—operational/financial/reputational/regulatory
• Identifying risk
• Evaluating risk
• Prioritizing risk

Identification of Controls
• Types of controls
• Control objectives
• Entity-level controls
• Activity-level controls
• Evaluating controls: design vs. operating effectiveness

Documenting Processes and Controls
• Narratives
• Flowcharts and process flows
• Walkthroughs

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: 18th – 21st Feb,2025
2ND BATCH: 5th – 8th Aug,2025