Training Courses

AT100 Auditing Techniques

CPE 15.0

Description This course reviews the International Standards for the Professional Practice of Internal Auditing and the basic tools used by internal auditors. Also covered are various types of audits, workpaper techniques, audit evidence and testing and reporting of audit issues. The course covers Parts 1 – 3 of Sawyer’s Internal Auditing 5th Edition, which is a suggested reference aid to prepare for the course.

Audience The course is designed for:

· Experienced auditors who want to learn more about the IIA Standards to prepare for the CIA Exam.

· Auditors who want to learn more about the rules of audit evidence, sampling and testing of controls.

· Auditors who want to practice writing audit issues using the five elements of an audit finding.

· Anyone wanting to learn more about the differences between and design and operation of internal controls.

Prerequisites There are no prerequisites for this course.

Objectives This seminar is designed for business personnel who are entering internal auditing for the first time and more experienced auditors who are preparing for the Certified Internal Auditor exam. It is designed to help participants:

· Expand knowledge of rules of audit evidence, sampling and testing of controls

· Practice writing audit issues using the five elements of an audit finding

· Learn more about the differences between the design and operation of internal controls

· Learn more about IIA Standards to prepare for CIA exam

Course Outline:

The IIA Professional Practices Framework

· Definition of internal auditing and ethics statement

· The Attribute, Implementation and Performance Standards

· Practice Advisories

Types of Audits

· Assurance Services

· Consulting Services

· The Audit Process

· Financial, Operational and Compliance Audits

· IT Audits

Identifying Internal Controls

· The COSO definition of internal control

· The COSO Enterprise Risk Management framework

· Design vs operation of controls

Workpapers and Audit Evidence

· Testing soft controls

· Testing hard controls

· Testing IT controls

· The concept of sufficient, competent, relevant, useful

· What should be in the work papers?

· Electronic work papers

Elements of an Audit Finding

· Criteria

· Condition

· Cause

· Impact

· Recommendation

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

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