CPE Credits: 15
Description: This course covers the skills experienced auditors need in order to lead internal audits. The course focuses on audit planning, client relationship management, writing audit reports and supervising auditors.
Audience: The course is designed for experienced auditors beginning to supervise other auditors during the conduct of an audit and experienced lead, or in-charge, auditors who want to expand their skill set. The class format is small and large group discussions, case studies, practical exercises, facilitator presentations and skill practices.
Prerequisites: All participants should be experienced in internal audit concepts and practices with skills similar to those covered in auditing techniques and COSO internal control and ERM courses. These concepts are also covered in Parts 1, 2 and 3 of Sawyer’s Internal Auditing 5th Edition. Attendees should be performing, or beginning to perform, the in-charge or lead auditor role on audits with one or more assisting auditors.
Objectives:
This seminar is designed for experienced auditors who are beginning to lead audit engagements. It is designed to help participants:
· To develop an understanding of the roles and responsibilities of the auditor-in-charge.
· To develop and understand those skills and processes necessary to be an effective auditor-in-charge.
Course Outline:
Roles and Qualities of Auditors-in-charge
· The role of the auditor-in-charge
· Duties and qualities of the successful auditor-in-charge
Planning the Audit
· The importance of audit planning
· Audit objectives
· The preliminary survey
· The opening conference
Completing Audit Programs
· Attributes of an effective audit program
· Developing and revising audit programs
· Assigning audit tasks efficiently and effectively
· Supervising and Controlling Audits
· Effective supervision techniques
Reviewing Working Papers
· Attributes of quality working papers and review notes
· Reviewing working papers
· Tips for using electronic work papers
Audit Concerns and Reports
· AIC's responsibilities for audit concerns and reports
· Principles of effective audit reports
The Exit Conference
· Purpose of exit conferences
· Techniques to ensure conferences fulfill audit objectives
Wrapping Up the Audit
· Tasks required to complete audits
· Evaluating management responses to audit reports
· Appraising Staff Auditor Performance
Instructor Bio:
Larry Hubbard is a professional trainer and consultant with a broad background in accounting, auditing, and finance. Prior to founding Larry Hubbard & Associates, Larry’s work experience included Mobil Corporation and Ernst & Young. More information about Larry is at:
www.LHubbard.com