Internal Auditing - Procedure and Controls

Course details

The Internal Audit Course is designed to develop and improve the auditing function of any organization so as to establish and maintain high standards of auditing, while meeting the developing needs of users of financial information. High quality auditing also ensures public confidence in the auditing process, which is a key quality for businesses.

Course Objectives:

By the end of this course, participants will be able to:

• Establish the principles and procedures with which auditors are required to comply to in carrying out audits
• Understand the roles and responsibilities of auditors
• Understand the procedures and rules of auditing, as per the International Standards for Auditors
• Understand the existing International Accounting Standards

Course Outlines:

• The Framework of Internal Auditing
• The Institute of Internal Audit Standards
• Performance, Attribute and Implementation Standards
• Recent changes in International Accounting Standards/Sarbanes-Oxley
• Enhancing Bank Transparency
• The Assessment and Ranking of Operational Risk
• The Function of the Internal Audit in the Reinforcement of Internal Controls
• Engagement Objectives
• Quality Assurance

Roles of Internal Audit Risk Management and Management Compliance Functions

• Engagement Disclosure to Management of Non-compliance with Audit Standards
• Communication and Dissemination of Audit Results
• Financial Fraud – Methods and Detection
• Current Problems in Auditing and Accounting Standards
• Foreign Exchange Operations