Advanced Strategic Internal Auditing

This Advanced Strategic Internal Auditing course will cover:

Review of Key Audit Function Foundations

• Review of key action points
• Developing organizational specific risk matrices
• Global best practice – case studies & analysis
• Key action points – Delegate action plan development

Risk Based Auditing

• Identifying areas of risk
• Classifying and quantifying risk areas
• Developing audit and re-audit frequency in line with risk
• Overview of emerging threats

Review of Key Audit Function Foundations

• Review of key action points
• Develop organisational specific risk matrices
• Global best practice – case studies – lessons learned analysis
• Key action points – delegate and manage action plan development

Risk – Based Auditing

• Identifying areas of risk
• Identifying new areas of risk
• Classification and quantification of risk areas
• Identifying potential interface of existing and new areas of risk
• Developing audit and re – audit frequency in alignment with risk
• Overview of emerging and evolving threats

Conducting Effective Audits

• The auditor’s role as a consultant
• Utilising audit reporting to inform organisational policy development
• Continuous improvement initiatives and supervision
• Measuring improvement – toolkit for objective measurement and demonstration of audit output improvements

Financial crime compliance

• Record keeping procedures
• Controls to identify potentially suspicious activities
• Trade finance transactions
• Trade processing controls by processing staff
• Red flagging procedures
• Pre-determined thresholds systems and controls
• Escalations
• Actions taken by senior management
• Evidence and awareness of senior management evidencing how crime risks evolve in organisational type of business

Engaging with the Audit Structure

• Making effective recommendations and business cases
• Presenting information effectively
• OSCOLA (Oxford University Standard for the Citation of Legal Authorities) for internal auditors
• Contributing meaningfully to the development of the long – term audit strategy
• Upgrading the profile of internal audit within the organisation

Audit reports – Working with Stakeholders

• Effective post audit de-briefing
• Root cause analysis and remediation recommendations
• Developing departmental action plans with stakeholders: contributing to the delivery of compliance 2.0
• Managing conflict situations