Audit and Assurance

Audit and Assurance

PROGRAM TOPICS:

The Internal Audit Environment

• The Definition of Internal Auditing
• The Components of an Effective Internal Audit Function
• The Effective Organizational Placement of a Successful Internal Audit Function
• The Standards for the Professional Practice of Internal Auditing
• The Various Types of Internal Audits

The Principles of Effective Internal Auditing

• The Principles of Effective Audits
• Alpha and Beta Audit Risk
• Compliance, Substantive, and Operational Tests
• Analytical Review, Confirmations, Reperformance, Observation and Inquiry, Inspection, and Other Types of Audit Evidence

Developing Achievable Audit Objectives

• Relating the Concept of Internal Audit Strategies to the Audit Planning Process
• Developing a Long-Term Audit Plan for the Internal Audit Department Using Internal Control-Based Risk Assessment
• Designing the Audit Plan and Preparing an Audit Planning Memorandum for an Individual Internal Audit Project Assignment

Principles of Internal Control

• The Relationship between Internal Controls and the Audit Process
• The Requirements to Ensure Compliance with Statement on Internal Auditing Standard No. 1 Control: Concepts and Responsibilities

Audit Evidence and Audit Work papers

• Discuss the Basic Concepts of Audit Evidence
• Performing Analytical Reviews
• Testing and Gathering Review Evidence
• Selection of Appropriate Testing Method
• Overview of Statistical Sampling Techniques .