Enhancing Audit Effectiveness: Planning and Monitoring Strategies

Course Objectives:
• Understand the importance of audit planning and monitoring in achieving audit objectives.
• Learn best practices for developing comprehensive audit plans tailored to organizational needs.
• Acquire techniques for effective risk assessment and identification during the planning phase.
• Master the art of audit monitoring to ensure timely progress and adherence to established timelines.
• Enhance communication and coordination with stakeholders throughout the audit process.
• Gain insights into post-audit review and evaluation for continuous improvement.
Course Content:
Introduction to Audit Planning and Monitoring
• Importance of audit planning and monitoring in ensuring audit effectiveness
• Overview of the audit planning process and its key components
• Understanding the role of audit objectives, scope, and criteria in planning
Developing Comprehensive Audit Plans
• Identifying and prioritizing audit objectives based on organizational goals and risks
• Establishing audit scope, criteria, and methodology for effective planning
• Allocating resources and defining responsibilities within the audit team
Risk Assessment and Identification Techniques
• Techniques for conducting risk assessments and identifying potential audit risks
• Utilizing risk matrices and other tools to assess the likelihood and impact of identified risks
• Incorporating risk considerations into the audit planning process
Effective Audit Monitoring Strategies
• Setting clear audit milestones, timelines, and performance indicators
• Monitoring audit progress and addressing deviations from the planned schedule
• Implementing corrective actions and adjustments as necessary to ensure audit objectives are met
Stakeholder Communication and Coordination
• Establishing effective communication channels with audit stakeholders
• Providing regular updates on audit progress, findings, and recommendations
• Addressing stakeholder feedback and incorporating input into the audit process
: Post-Audit Review and Evaluation
• Conducting post-audit reviews to assess audit effectiveness and identify areas for improvement
• Analyzing audit findings and recommendations for organizational impact
• Documenting lessons learned and best practices for future audit planning and monitoring

FOR WHOM:
All Internal Auditors in 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: 21st – 24th Jan,2025
2ND BATCH: 24th – 27th June,2025