Certificate in Internal Audit
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Certificate in Internal Audit

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Join Today our Internal Audit Training courses and become a professional in the Audit Department. Contact me directly at howard.fernandes@iirme.com

Join Today our Internal Audit Training courses and become a professional in the Audit Department. Contact me directly at howard.fernandes@iirme.com

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Certificate in Internal Audit Certificate in Internal Audit Document Transcript

  • Certificate I Essentials Of Internal Audit 9 – 13 February 2014 • 31 August – 4 September 2014 Certificate II The Developing Internal Auditor 9 – 13 March 2014 • 12 – 16 October 2014 Certificate III Risk Based Auditing 16 – 20 March 2014 • 19 – 23 October 2014 Certificate IV Advanced Audit Techniques 15 – 19 June 2014 • 7 – 11 December 2014 Certificate V Leading The Internal Audit Function 22 – 26 June 2014 • 14 – 18 December 2014 Certificate In Internal Audit A Series Of Training Certificates For Audit Professionals 5Cutting-Edge Audit Certificates In One Exclusive Programme www.iirme.com/auditcertificate Follow us on: www.twitter.com/iirmiddleeast www.facebook.com/iirmiddleeast www.youtube.com/iirmiddleeast Dusit Thani Hotel, Dubai, UAE *Earn Upto 30 CPE credits on each course To Register Call Howard Fernandes at 00971 4 4072657 or Email him at howard.fernandes@iirme.com
  • The George Washington University School of Business, IIR Middle East’s Academic Partner, is dedicated to excellence: in its teaching and research about management, in the public and private sectors, within the United States and internationally. The school has a 75 year history of preparing men and women for leadership in both the public and private sectors. Known internationally for its dedication to academic excellence, the school draws students from all parts of the United States and around the world. Beyond first class teaching and scholarship, the school’s faculty offers practical experience in the issues and challenges confronting business and government. Its research centres link faculty and students with US and international business and government organisations. Recent distance learning initiatives have expanded the school’s global reach. Course Requirements And Certificates Delegates must meet two criteria to be eligible for an IIRME/GW Certificate of Completion for a course: 1. Satisfactory attendance – Delegates must attend all sessions of the course. Delegates who miss more than 2 hours of t he course sessions will not be eligible to sit the course assessment. 2. Successful completion of the course assessment. Delegates who do not meet these criteria will receive an IIRME Certificate of Attendance. If delegates have not attended all sessions, the Certificate will clearly state the number of hours attended. Business Risk Management Ltd is in the process of seeking approval for registration with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org Course Assessment Assessment will be based on an interview with each delegate anda multiple-choice questionnaire, each equally weighted. Meet Your Expert Course Leader Phil Griffiths is founder and Managing Director of Business Risk Management Ltd. A Chartered Accountant with over 30 years experience in risk management, internal audit and fraud prevention as practitioner, professional adviser, facilitator and trainer. His specialisms are: • Assisting senior management to identify, manage and then exploit the risks within their business via facilitated business risk management programmes • Helping Internal Audit functions to implement world class standards • Developing fraud prevention, detection and investigation programmes • Training both private and public sector organisations in all the above disciplines He has extensive experience of the MENA region having trained professionals from over 600 organisations in this region during the past 15 years. He has developed over 60 training courses on all aspects of internal audit, risk management and fraud and delivered them across the globe. He is an accomplished author. His first book ‘Risk Based Auditing’ is an international best seller and his brand new book ‘Enterprise Risk Management’ – the key to business success’ is receiving much acclaim. He is recognised as an accomplished and charismatic facilitator, trainer and lecturer and is in continual demand to speak at the most prestigious events on risk management, internal audit and fraud. T: +971 4 335 2437 F: +971 4 335 2438 W: www.iirme.com/auditcertificate • Heads of internal audit • Audit managers and those about to be appointed to that role • Directors responsible for internal audit • Senior auditors • Audit managers and those about to be appointed to that role • Auditors that need to audit projects, contracts or technical business areas • Assurance professionals who need to assess technical issues • Audit managers and senior auditors • Auditors responsible for developing or implementing a risk based approach • Auditors with more than 6 months experience in internal audit • Auditors or other assurance professionals who want to significantly improve their reports • Personnel in other functions who need a wider understanding on the modern • internal audit role or improve their reports • New entrants to internal audit • Internal auditors with up to 18 months experience • Those returning to or already working in internal audit who need practical guidance on the changing role of the function • Personnel in other functions who need a better understanding on the modern internal audit role Who Should Attend: Certificate V Leading The Internal Audit Function Certificate IV Advanced Audit Techniques Certificate III Risk Based Auditing Certificate II The Developing Internal Auditor Certificate I Essentials Of Internal Audit V IV III II I *CPE Credits (subject to approval) • Delegates can earn upto 30 CPE credits To Register Call Howard Fernandes at 00971 4 4072657 or Email him at howard.fernandes@iirme.com
  • After Completing This Course You Will Be Able To: • Practice the skills required by a modern auditor • Apply the professional standards of the Institute of Internal Auditors • Deliver a range of audit assignments • Plan and complete an effective audit • Deliver successful audit programmes • Evaluate the balance between risk and control • Write a report with impact • Persuade management to accept your recommendations CPE Credits • Delegates can earn up to 30 CPE credits in the auditing field of study Who Should Attend? • New entrants to Internal Audit • Internal auditors with up to 18 months’ experience • Those returning to or already working in Internal Audit who need practical guidance on the changing role of the function • Personnel in other functions who need a better understanding on the modern Internal Audit role Course Level • This is a basic level course and delegates are not required to have any previous experience in Internal Audit to attend • There are no minimum educational requirements • No advance preparation is required • Delivery method – Group-live (with exercises and role-plays to simulate audit scenarios and situations that new auditors will encounter) • A pre-course questionnaire will be sent out 2 – 3 weeks prior to the course date to obtain some information about the delegates’ roles and to provide an opportunity to indicate specific learning requirements New For 2014 • New IIA guidance on delivering Internal Audit • How to deliver audit assignments – step-by-step guide • How to gather and evaluate information • 7 attributes of effective Internal Auditors • How to follow up recommendations • Audit methodology flowchart Why You Should Attend This course covers everything you need to know as a newcomer to Internal Audit regarding the most effective audit practices. There has probably never been a more important or interesting time to be an Internal Auditor. The function has changed significantly from the basic compliance and checking function it used to be. People are joining Internal Audit from a variety of backgrounds and the function is becoming much more operationally rather than financially based. Internal audit should be vibrant and exciting, adding real value to the organisation and being recognised as a catalyst for change and a business partner. If you have staff who are new to Internal Audit you will want them to learn the best audit practices and be able to apply them efficiently. The course will introduce you to the worldwide best practice and how to apply it. Maybe you have auditors who are returning to the function, or staff who are to be seconded to you for a period of time? You will want them to learn about the changing role of the audit function. Perhaps you work in a line function with responsibility for providing assurance to the Board and need a fuller understanding of the Internal Audit role. T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate Certificate I Course Timings: Registration will be at 08:00 on Day One. The course will commence at 08:30 every day and finish at 14:30. There will be breaks for refreshments at approximately 10:30 and 12:30 and lunch will be served at the end of each day’s session. Day One The Challenges For Internal Audit What Is Internal Audit? • New IIA guidance • How the profession has changed over the last decade • What it means to be an internal auditor Exercise 1 – What is internal audit? • Definitions and trends • Internal Audit role and responsibilities • Frequently asked questions • Misconceptions about the role • The global tree – IIA explanation about the role The Professional Standards • Integrity • Objectivity • Confidentiality • Proficiency • Due professional care • Independence Exercise 2 – The challenges for an inexperienced auditor How Does The Role Differ From Other Assurance Providers? • How should you coordinate your efforts with other assurance providers? • Optimising assurance – a model • IIA GCC challenges • Corporate Governance and the IA role • The Audit Committee and the audit relationship Audit Skills • Internal Audit as a career or stepping stone • 7 attributes of effective Internal Auditors • The IIA competency framework Exercise 3 – The skills inventory • Technical skills • Analytical skills • Communication skills • Soft skills Exercise 4 – Moon shot Day Two The Internal Audit Role The Modern Approach To IA • Perceptions of Internal Audit – results of surveys • How the role of the function has developed • What is best practice? • The audit charter • The challenges Exercise 5 – How is the role of IA changing? Preparing For An Audit • The different approaches to Internal Audit - Compliance - Systems Based Audit - Risk Based Audit - Assurance based IA • Steps in preparing for an audit • Paper with step-by step-guide will be provided • How to approach unfamiliar areas – guidance paper • New IIA guidance on delivering Internal Audit assignments • The danger of making assumptions • Delivering the IA flowchart Essentials Of Internal Audit 9 – 13 February 2014 31 August – 4 September 2014 To Register Call Howard Fernandes at 00971 4 4072657 or Email him at howard.fernandes@iirme.com View slide
  • The Need For A Risk Based Approach • Challenge from the IIA • Key requirements of risk based auditing • Translating risks into the basis of the IA programme • Asking about surprises • The link between risk, objectives and control Exercise 6 – Risk and control • Identifying risk exposures • Reviewing the risk register • How IA needs to take the risk pulse • Case study of a risk based audit assignment • Documenting internal controls Exercise 7 – Planning an audit assignment Meeting With Functional Management To Discuss The Audit • When to meet • The need to treat your customers with respect • Techniques to put management at ease • IIA guidance on influencing skills • Securing management input Exercise 8 – Pre-meeting with management: role play • Functional and audit objectives • Developing terms of reference for the assignment • Determining sources of information Day Three Internal Audit And The External Audit Relationship Meeting Management Expectations • Relationships with management • Expressing yourself effectively • Recognising different management styles Exercise 9 – Getting the most out of audit customers • The need for simplicity • Power words • Auditor – it means someone who listens • Active listening Exercise 10 – Listening exercise • How to get on the same wavelength as management • Persuasion and negotiation • Explaining the audit approach to staff of the function audited • An example presentation will be shared Marketing Your Services Exercise 11 – Promoting your function • Marketing measures • An example audit brochure will be provided Internal Audit And The External Relationship • The differences in the roles • Options for co-ordination Developing Team Relationships Exercise 12 – The final straw Day Four Completing An Audit The Need To Understanding Controls • Types of control • Preventative, corrective and detective controls • Questions to ask • How to gather and evaluate information • Documenting controls T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate Exercise 13 – Internal controls The Audit Manual • IA organisation • Control framework • Audit planning • Completing the assignment • Interpersonal awareness • The audit file • Audit assignment checklist • Guest auditors Audit Interviews • The approach to interviews • How to decide who to interview • Tips for success Exercise 14 – Audit interviews – role play Audit Programmes And Testing • Audit programmes with examples • Walk through tests • Fieldwork techniques (compliance, transactional, analytical review and sampling of audit) – the differences and how to use them • Audit testing – how to decide the type and depth of testing • IIA guidance on testing • Audit working papers The Clearance Or Closing Meeting • Tips for success • Personnel to discuss the observations with Exercise 15 – The clearance meeting – role play Audit Tools And Measures Of Success • The need for automation – software available • Computer Assisted Audit Techniques (CAATs) • Audit KPIs • How to measure effective performance • SMART measures Exercise 16 – The puzzle: an exercise in planning Day Five The Audit Report The Challenges Of Audit Reporting • The need for reports with impact • Examples of six reports – which are the best? • Who reports are for and what are the implications • The report as your shop window • How do you know a good report when you see one? Exercise 17 – What makes an excellent report? What Management Expects • Professional standards • The problems with audit reports • Questions about audit reports • How to adopt best practice • How to assess a report Exercise 18 – Analysis of three reports Getting Commitment To Action • Best practice reports – the way forward • The psychological dilemma with reports • Why audit reports are taken as a criticism of management • What causes attitudes to change • Wording and layout ideas • How to get 95% of your recommendations actioned • The executive summary – dos and don’ts • The main report – best practice ideas • Words and phrases to avoid • Audit opinions – how to express them • New IIA guidance on following up recommendations • Presenting results • Tips and techniques for success • Example – best practice report will be shared Exercise 19 – Action plans To Register Call Howard Fernandes at 00971 4 4072657 or Email him at howard.fernandes@iirme.com View slide
  • T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate Certificate II Course Timings: Registration will be at 08:00 on Day One. The course will commence at 08:30 every day and finish at 14:30. There will be breaks for refreshments at approximately 10:30 and 12:30 and lunch will be served at the end of each day’s session. Day One Challenges Of The Internal Audit Role Worldwide Trends In Internal Audit • The role of the Internal Audit function - The policing role - The risk assessor role - The consulting role • The future of Internal Audit (E&Y survey) • What should the balance between the roles be? • How much time should be given to each? • Maturity model for assurance and consulting Exercise 1 – The role of IA in 2014 and beyond How Can A Better Understanding Of The Role Be Gained? • How can the profile be enhanced? • What do management think of the IA service? • Ways to promote your function better • Communication strategies • New IIA guidance ‘What every director should know about IA’ • Opportunities for Internal Audit The Role Of The Modern Auditor • The multi-faceted role of the auditor - Negotiating - Planning - Questioning - Listening - Establishing rapport - Investigative skills - Building trust - People management • What leadership means • Leadership styles • Delegation and tips for success Exercise 2 – Performing a self analysis The Different Requirements And Challenges Facing IA In Major Sectors In The GCC And MENA Region • Sector challenges • The need to adapt quickly to new regulatory requirements • Ensuring governance risk is recognised • Smarter use of technology • The move to continuous auditing • Making IA a more strategic partner • Thinking and acting more creatively • Recruiting people from non traditional areas Exercise 3 – Key audit challenges Initial Planning • The importance of planning • Stages in planning • Constraints to effective planning • 20 questions to aid planning • Preparing for an audit engagement • The need to engage audit customers Exercise 4 – The drawing exercise (planning) The Audit Manual • Outline of the key elements • Assignment planning • The audit file • Working papers • Personal learning planner • Guest auditors • Post audit questionnaire • A 64 page manual will be provided to all delegates 9 – 13 March 2014 12 – 16 October 2014The Developing Internal Auditor After Completing This Course You Will Be Able To: • Perform a self-analysis of your skills and techniques • Improve your audit manual • Plan and lead assignments effectively • Complete more audits on time • Develop excellent working papers • Use Computer Assisted Audit Techniques (CAATS) with confidence • Simplify your reports and enhance their readability • Significantly enhance the impact of your reports • Make your reports easier to write, easier to review and easier for management to implement • Improve the acceptance and implementation of your recommendations CPE Credits • Delegates can earn up to 30 CPE credits (14 in the auditing field of study, 12 in the communications field of study and 4 in the personal development field of study) Who Should Attend? • This course will be particularly useful for delegates who have previously attended the Certificate In Internal Audit I – Essentials Of Internal Audit course • It will also be very beneficial to auditors or other assurance professionals who need to significantly improve their reports – as this topic is covered in depth • Personnel in other functions who need a wider understanding of the modern Internal Audit role or want to improve their reports Course Level • This is a basic/intermediary level course and it is advisable that delegates have six months’ experience in Internal Audit to attend • There are no minimum educational requirements • No advance preparation is required • Delivery method – Group-live (with exercises and role-plays to simulate audit scenarios and situations that auditors will encounter) • A pre-course questionnaire will be sent out 2 – 3 weeks prior to the course date to obtain some information about delegates roles and to provide an opportunity to indicate specific learning requirements New For 2014 • New IIA guidance on developing audit competencies • How to plan an effective audit engagement • A method of assessing assurance maturity • New guidance on audit sampling • 20 questions to help you prepare better audit plans • Proven ways to promote your function • New guidance on communicating results • New IIA guidance – ensuring your reports are transparent • Audit report templates Why You Should Attend The course is designed to enable you to develop the key skills of a modern auditor – communication, teamwork, negotiation, planning and time management – to name but a few. The course will be particularly beneficial for those supervising assignments, lead auditors and those being asked to lead audit teams. It is designed to challenge your thinking about the whole approach to writing and reviewing audit reports – it is targeted at both new auditors and also more experienced personnel. You will also be introduced to the new ideas in the IA profession and how to apply them.
  • Exercise 5 – How to improve the audit manual Day Two Enhancing Audit Effectiveness Organising The Assignment • The key issues in assignment planning • Developing a planning memo for the assignment • Determining an effective time budget • Determining the business process using a model • Determining sources of information • Getting management input • Deciding on the audit team • Allocating the roles • Getting the most out of the team • Determining the potential difficulties • Process analysis • Preventative, detective, directive and corrective controls • Strategies for improving time management Exercise 6 – How to complete more audits on time Risk Based Auditing • Determine business objectives • Consideration of threat to achievement • Understand the risk appetite • Assess how well such risks are being managed • Linking objectives, risks and audit observations Audit Programmes • Developing effective audit programmes - What makes a good programme? - Mistakes to avoid - The dangers of re-inventing the wheel - Assigning tasks - Staffing factors - The need for regular updates for standard programmes • Example audit programmes will be shared Exercise 7 – Preparing an audit programme Fieldwork Techniques • Types of fieldwork • Compliance • Transaction testing • Analytical review • Statistical sampling • Process reviews • Flowcharting • Questionnaires • Workshops • How to decide what techniques to use • How to determine the depth of testing required • New IIA advice on audit sampling • Audit testing • Working papers Exercise 8 – The challenges of audit testing Use Of Computer Assisted Audit Techniques ( CAATs) • The benefits of ACL and IDEA • CAATs and data mining • Opportunities • Types of tests ideal for CAATs applications • Cash monitoring • Stock control • Payroll • Revenue • Cost comparisons • External comparisons (with external databases) • Branch or business comparison • Worked examples of the use of ACL will be provided • Advice from ISACA will be shared Exercise 9 – Use of ACL – group exercise using audits chosen by the delegates Day Three Audit Reports – Your Shop Window • The five dilemmas of audit reporting • Video from IIA president • What is a best practice report? • Who do you need to convince? • Top tips – communicating results • The challenges of audit reporting • Grabbing attention • Getting the message across • Getting action • The need for impact • Which of six reports shown would you be likely to read? • Ideas on creating impact • How do you know a good report when you see one? • What Management expect – recent survey of chief executive • IIA professional standards • Who are the reports really for? Exercise 10 – What are the factors that separate an excellent report from the rest? The Problems With Audit Reports Exercise 11 – 35 questions about your audit reports issued during the last 12 months • The 35 questions (all based on best practice) – how did you score? • What are the factors preventing the achievement of these best practice measures • 30 tips, techniques and ideas to help you score a maximum - How to get 95% of recommendations implemented - Use of charts and photos - Dealing with minor issues - Future focus - Order of importance of the issues - Actions rather than recommendations - Action plans • Discussion of the implications • How to assess the needs of the audit customers Analysis Of Actual Reports • Explanation of a proven method to evaluate audit reports Exercise 12 – Analysis of four actual reports • Feedback and discussion Assessment And Evaluation Of Your Own Reports • A model for assessing reports will be outlined Exercise 13 – Self evaluation against the model provided (delegates are requested to bring along two recent reports – purely for their own reference) • Discussion of key issues and identification of opportunities for improvement The Executive Summary Exercise 14 – Comparison of three executive summaries • The role of the executive summary • 20 tips for writing better summaries • Targeting the executive summary to the reader • The benefits of writing the executive summary before the main report • Asking a non-technical person to read it T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • Exercise 15 – Roleplay a meeting with senior management to discuss the report • Feedback and discussion of the issues Exercise 16 – Writing an executive summary – based on the roleplay Day Four Best Practice Internal Audit Reports – The Way Forward Developing A Collaborative, Consultative Style • The psychological problem with reports • The need to meet and hopefully exceed management expectations • The need to focus on benefits rather than problems • Marketing the audit reporting process • An example presentation will be shared • Relationships with management • Expressing yourself effectively • The need to drive action • Creating rapport with your customers – tips and techniques • The need to understand the people receiving the reports Exercise 17 – The psychology of reports Writing Reports With Impact • Messages rather than content • Outcomes rather than output • Solutions not problems • Auditor and reader mindsets • Why audit reports are taken as a criticism of management • Ways to make the reports more positive • Benefits and deliverables • Conclusions • How to draft a report with impact – discussion of banner headlines and their relative impact • Language and impact • Simple and complex language • The use of ‘power words’ in your communications • How to get on the same wavelength as your customer • Highlighting the issues that matter • Audit observations • New paper on audit observations will be shared • Causes and effects Exercise 18 – Causes and effects exercise Ideas On Improving The Review Process • The peer review process – the need for a positive approach • Techniques for effective review • Putting yourself in the position of the writer and recipient • Avoiding the use of the ‘red pen’ • Encouraging the auditor • Avoiding making changes for change sake • Messages rather than content • Outcomes rather than output • Solutions not problems Exercise 19 – Reviewing a draft report Day Five Keeping The Report As Simple As Possible The Main Report • Keeping it simple • The report process • Writing the main report • Dealing with writer’s block • Audit objectives • Scope • Forming and expressing the audit opinion • Wording tips • Tone • Writing effective coherent sentences and paragraphs • The editing process – tips for success • The power of senior management comments • Circulation lists • Formatting ideas • How to avoid repeating any sections in the executive summary • Words and phrases to avoid • How to reduce the number of words • Why the spell checker sometimes does not help you • Dealing with the difficulties of the English language Exercise 20 – Picking the biggest paragraph from a report and rewriting it in one third of the words originally used Finalising The Report • Recommendations and action plans • Management comments • How to reflect the right issues for the Audit Committee • Audit Committee report examples • The need to be on your customers’ side • Follow up audits – using the action plan • How to get management to take responsibility for actions • Ways to improve the follow-up process • Issuing the report • Presenting or issuing reports (including use of e-mail and the Intranet) • Alternative methods of reporting e.g. PowerPoint • Examples of excellent reports will be provided • The need to be on your customers side • Reporting performance indicators’ • Tracking actions • Steps to success Exercise 21– Follow up of reports T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate Phil was very explicit and gave good examples. He came across clearly and is very knowledgeable.  Clara Ngando, Audit Manager, National Lottery Authority, Ghana The trainer had all the skills a trainer should have. Hamad Abdulaziz Hamad Najem, Internal Auditor, Bahrain Bourse Bahrain Stock Exchange, Bahrain
  • After Completing This Course You Will Be Able To: • Apply the concepts and practical approaches to risk based audit • Advise management on the identification, mitigation and control of risks • Challenge management and sell the benefits of proactive risk management • Audit major areas of risk for your business with confidence • Add value to your organisation by the application of risk-based audit services • Deliver more effective audit plans through understanding the role of risk • Plan risk based assignments efficiently and effectively • Measure success effectively CPE Credits • Delegates can earn up to 30 CPE credits (20 in the auditing field of study and 10 in the management advisory services field of study) Who Should Attend? • Heads of audit, audit managers and senior auditors • Auditors responsible for developing or implementing a risk based approach • Other assurance professionals such as those in compliance and QA functions who are wanting to develop their risk based approach • Managers and directors of business functions – to aid their knowledge of a risk based audit approach • This course will be highly beneficial for delegates that have previously attended the Certificate In Internal Audit II – The Developing Internal Auditor or Certificate In Internal Audit I – Essentials Of Internal Audit Course Level • This is an intermediary level course and delegates should have 12 months’ experience in Internal Audit (or other assurance roles) to attend • Delegates should have a good educational standard (Bachelors Degree or above) and/or a professional qualification or be in the process of studying for such qualifications • No advance preparation is required • Delivery method – Group-live (with exercises and case studies to provide practical application of the tools and techniques) • A pre-course questionnaire will be sent out 2 – 3 weeks prior to the course date to obtain some information about delegates’ roles and to provide an opportunity to indicate specific learning requirements New For 2014 • A new 2 hour session – step-by-step guide to completing a risk based audit • New IIA professional guidance – an approach to implementing Risk Based Audit (RBA) • New IIA guidance on annual Internal Audit coverage plans • Audit universe • Internal Audit coverage of risks to achieving strategic objectives • Risk Based Internal Audit plan example • The RBA audit plan preparation • New IIA guidance on preparing for an External QA review of IA • Risk management challenges and the IA impact • New audit programme – auditing ERM Certificate III Course Timings: Registration will be at 08:00 on Day One. The course will commence at 08:30 every day and finish at 14:30. There will be breaks for refreshments at approximately 10:30 and 12:30 and lunch will be served at the end of each day’s session. Why You Should Attend The Institute of Internal Auditors in a professional guidance statement stated the following: 'Internal Audit are being asked to provide much greater assurance to senior management than ever before. The Institute believes that the only way to provide such objective assurance is by means of risk based auditing'. Audit functions that are able to focus their efforts towards the significant risk in their organisations are able to concentrate their limited resources on the issues which drive business goals and aspirations. In consequence audit plans are directed at the issues, which really matter. This course provides all the latest developments. The 2014 course features a case study on the step-by-step approach to a risk based audit. Furthermore, a participative approach whereby auditors and managers work together to identify, assess and control business risks significantly enhances the level of assurance and reduces the chances of nasty surprises – a huge benefit in these more difficult times. Day One Risk And Internal Audit What Is Risk Based Audit? • Explanation of Risk Based Audit (RBA) • Worldwide trends • Trends (from the BRM Internal Audit best practice database) • The transition from systems based to risk based assurance • How risk based audit has changed the face of auditing • Audit’s primary roles, objectives and concerns • Questions about the maturity of the audit process • How RBA links to other audit approaches • The role of the function – policeman, risk assessor or consultant • How to ensure you adopt best practice • The need widen the coverage – to become less financially based • RBA in the different sectors in the GCC • The steps needed to embrace a risk based approach • Audit risks (what risks do you face?) • The key challenges resulting Exercise 1 – Challenges for Internal Audit The Nature Of Risk • The concept of risk • The relationship between risk and objectives • Why senior management may lack a full understanding of the risks • Risk cultures • Surprises and risk • Measurement of risk: probability and impact (or likelihood and consequences) • Categories of risk • The most common critical risks Exercise 2 – Analysing a disaster Business Risk • The wider business agenda – understanding strategic risks • How risk management has grown from being a useful tool to being the very pulse of the organisation • Selling the need for an RBA approach • Building an appreciation of your organisation’s risk appetite • The International Risk Standard ISO 31000 16 – 20 March 2014 19 – 23 October 2014Risk Based Auditing T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • • A new paper on the audit implications of ISO 31000 will be shared • The AUS/NZ risk management standard • The COSO standard • Steps to take in establishing a business risk management programme • Outline of a best practice process • A new paper on risk management challenges and the IA impact Risk Identification And Evaluation • Approaches and techniques • Explanation of a risk workshop approach • The need for facilitation skills and the characteristics required • How to identify, sift and group the risks • The use of diagnostic questions and thought-provokers • Measuring the consequences and the likelihood of occurrence of each key risk • Inherent and residual risk • The use of risk matrices to prioritise the risks • Case study and identification techniques • A new paper on auditing risk assessment will be provided Exercise 3 – Risk based audit – the risks Day Two Risk Management And The Audit Role The Role Of Internal Audit In Risk Facilitation • Key requirements of the facilitator • Risk workshop do’s and don’ts • Selling the benefits of attendance • The workshop process Exercise 4 – Interactive risk workshop Assessment Of Risk Mitigation • The need for separate mitigation workshops • How to assess risk mitigation • Identification and evaluation of risk exposures • Dealing with the exposures (The 4 Ts – Terminate, Tolerate, Treat or Transfer) • Exploiting opportunities • Completing the risk register • Establishment of action plans Exercise 5 – Risk exposures Risk And Internal Audit • New IIA professional guidance – an approach to implementing RBA • Guidance on the links and differences between the audit and risk management roles (including the IIA position) • Identifying, appraising and evaluation risk during the audit process • Translating key risks from the business risk process into the basis of the audit programme • Auditing the process Exercise 6 – Risk and reward – team exercise Embedding The Process • Integrating the risk output with business plans • Risk owners • Annual statements from risk owners • The risk register as a decision skeleton • Quarterly board reporting to review progress in addressing the exposures • Risk Management Committee reporting • Bi-annual evaluation of key risks to ensure new risks identified and included Exercise 7 – Interactive risk workshop – mitigation Day Three Practicalities Of Risk Based Auditing The Internal Audit Role • A strategic vision for Internal Audit • The audit charter and terms of reference • Measuring success and adding value • Meeting management expectations Exercise 8 – Success measures Strategic Audit Planning • Strategic audit planning • How to decide which areas to audit • The audit universe – new IIA guidance • Determining the level of assurance • New IIA guidance on annual Internal Audit coverage plans • The RBA audit plan preparation • Risk Based Internal Audit Plan example • Demonstration of a best practice audit risk planning model (an electronic version will be provided) Exercise 9 – Developing a strategic audit plan using the model Tactical Audit Planning • Audit programme development • Sources of audit work • Assignment planning and control • Managing audit requests • Fieldwork techniques • Use of technology – CAATs, audit automation, etc. • Audit coverage – geographic and business units • How to cover specialist areas The Converging Roles Of The Assurance Providers • The increasing emphasis on governance, assurance and control • How should the various assurance providers rise to the risk challenge? • Synchronising regulatory compliance with Internal Audit and the risk management functions • The need to coordinate quality assurance, security, insurance and the health and safety functions in relation to risk management • Linking external auditors into the process Exercise 10 – Coordinating your efforts with other assurance providers Day Four Risk Based Auditing In Practice Planning A Risk Based Audit • A worked example of a risk based audit • Brainstorming the functional objectives • Building a picture of the risks • Consider threats and opportunities • Building the details of the controls • Planning the assignment • Determining the types of tests and techniques to use • Determining the threats to success Exercise 11 – Specific audits will be chosen for this purpose by the delegates and the functional objectives and risks brainstormed in groups The Risk Based Audit Step- By-Step • A risk based programme example will be walked through • Reviewing the business objectives - Are the objectives comprehensive and SMART? T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • • Do the risks in the register relate properly to the objectives? - Are they specifically linked to the objectives and recorded? • Are the inherent risks correctly evaluated? • Are any key risks missing? • Are the causes of the event identified? • Have mitigating actions been recorded for each risk? - Is such mitigating detailed enough? • Are there any actions in progress to deal with risk? - Assess the status of such actions - Are there any management decisions pending? - Has a target risk been established? - Assess confidence levels to reduce the risks in a situation - Is the target risk realistic? • Audit testing - Test each mitigating control by means of walk through tests - Extend testing as required to obtain sufficient evidence • Determining an audit risk and control assessment - Evaluating and recording such assessments - Presenting the evidence to management - How to ensure consistency Exercise 12 – The RBA in practice – using audits selected by you The RBA Approach • The need to assess the risk maturity of the function • Commitment to risk management • The questions to ask • Assessing risk appetite • Reviewing the effectiveness of the risk management process adopted • Determining which risks should be concentrated on in the audit • Reviewing risk ownership and identifying gaps • Identifying residual risks above the risk appetite • Assessing the 4Ts • Monitoring of action plans • Evaluation and reporting of actual versus perceived controls • Determining which key risks are not readily auditable • New audit programme – auditing ERM Exercise 13 – Challenges of the RBA – group discussion Day Five RBA Challenges Relationships With The Board And Audit Committees • Board requirements of Internal Audit • Developing regular contact with the chief executive • Role of the Audit Committee • The Audit Committee relationship – how to develop this • Evaluating the Audit Committee requirements • How to anticipate requests • Audit Committee oversight paper • Questions the Audit Committee should ask • How to develop effective audit committee reports • Developing an annual report for the Board or Audit Committee Exercise 14 – The Audit Committee or board report Quality Assuring Or Benchmarking The IA Function (And The RBA Approach) • The IIA requirements • New IIA guidance on preparing for a QA review of IA • The power of EQA • Internal and external reviews • What constitutes an acceptable process (IIA) • Selecting the assessor • Key aspects of the review • Corporate Governance and the Internal Audit role • Professional standards • Audit charter • The Audit Committee relationship • Skills, training and resources • Strategic audit planning • The audit manual • Completing the audit • Audit reports • Measuring performance • Marketing the function • IIA QA checklist will be shared • A global guidance paper on QA assessments will be provided Exercise 15 – The challenges of EQA Risk Based Audit Reporting • The challenges of risk based audit reporting • Getting the message across • Getting the desired action • The messages you want the Board to hear • How to ensure no overreaction • Including positive comments • How to keep it short and focussed • Developing a risk based executive summary • How to get recipients to react positively • How to write balanced reports • Highlighting the issues that matter • How to reduce the number of words • The power of pictures and graphics • The need to relate the issues to objectives and risk • How to deal with sensitive issues in the report Exercise 16 – Discussion – how to deliver risk based reports T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate Vast knowledge, priceless experience. Excellent presentation and good material.  Azzan Al Raisi, Internal Auditor, Qalhat LNG, Oman Phil has vast experience which he was able to share and gave us real life examples that helped to explain the material better. Nadin El Hayek, Internal Auditor, Abu Dhabi Health Services Co., UAE
  • After Completing This Course You Will Be Able To: • Assess Internal Audit’s contribution as a function • Audit Corporate Governance effectiveness • Audit the risk management process • Apply continuous audit techniques • Assess the effectiveness of business continuity planning • Complete complex audits such as the marketing function and performance management • Deliver successful value for money audits • Audit joint ventures and partnerships • Deliver audits of technical areas such as IT and outsourced contracts CPE Credits • Delegates can earn up to 30 CPE credits (24 in the auditing field of study and 6 in the management advisory services field of study) Who Should Attend? • Senior auditors • Audit managers and those about to be appointed to that role • Auditors that need to audit projects, contracts or technical business areas • Assurance professionals who need to assess technical issues • Assurance providers that need a greater understanding of Corporate Governance • This course will be beneficial as a development aid for delegates that have previously attended the Certificate In Internal Audit II – The Developing Internal Auditor course Course Level • This is an advanced level course and delegates should ideally have at least 18 months’ experience in Internal Audit (or other assurance roles) to attend • Delegates should have a good educational standard (Bachelors degree or above) and/or a professional qualification • No advance preparation is required • Delivery method – Group-live (with exercises and case studies to provide practical application of the tools and techniques) • A pre-course questionnaire will be sent out 2 – 3 weeks prior to the course date to obtain some information about delegates’ role and to provide an opportunity to indicate specific learning requirements New For 2014 • Making the most of Internal Audit – new guidance • New IIA guidance on auditing performance management • Guidance paper on continuous assurance • Audit Committee oversight of IA guidance • New IIA paper on automated transaction testing • New GTAG guide to audit sampling • 10 steps to cyber security • IIA guidance on auditing the marketing function Why You Should Attend As a progressive audit practitioner who strives for excellence, your vision is world-class and you realise that long term survival in today’s competitive marketplace means delivering impeccable products and services and auditing the wide range of business risks. An advanced and innovative auditing strategy coupled with effective implementation can greatly enhance the departmental value added and company-wide support of your auditing function. Expertise in the more technical business areas is essential to maintain a stable foundation from which your organisation can effectively compete in the Middle East environment. Certificate IV Course Timings: Registration will be at 08:00 on Day One. The course will commence at 08:30 every day and finish at 14:30. There will be breaks for refreshments at approximately 10:30 and 12:30 and lunch will be served at the end of each day’s session. The biggest challenges to modern Internal audit functions will be covered during the course – including auditing your organisations reputation and brand Day One The New Internal Audit Challenges Recent Professional Guidance And Practice Advisory Statements • New guidance and its implications • Aligning plans with risks • Dealing with unacceptable risk – escalation with senior management • Gathering information from multiple engagements • Expectations of senior management • Relationship with the Board • IT governance • Fraud risk management • Evaluating ethics programmes • Quality assurance and improvement programme • The IIA global tree • Key issues from the IIA BOK (Body Of Knowledge) survey • Imperatives for change – IIA standards • An effectiveness of IA checklist will be shared • Making the most of IA – new IIA paper Exercise 1 – The challenges of the IIA standards The Key Aspects Of Corporate Governance • What is Corporate Governance? • 6 core principles of governance • 7 governance warning signs • New Corporate Governance insights paper will be shared • Meeting stakeholder requirements • How the organisation is managed on behalf of the stakeholders • The key parties within governance - Audit Committee - The Board - Regulators - Customers - Suppliers Exercise 2 – Defining the parties – Who killed Amos? Auditing Governance Readiness • Assurance mapping • Holding a pre-meeting – dos and don’ts • A new governance and accountability tool will be shared • Developing a terms of reference for the assignment • Should this be a review only – will evidence be gathered? • A new audit programme will be shared • Corporate Governance statements Exercise 3 – The challenges in carrying out a Governance Audit Auditing The Risk Management (RM) Process • Establishing the position regarding RM in the business • Establish corporate targets and monitor overall progress • Risk management using ISO 31000 paper from IIA • Keeping the Board apprised of the most significant risks • Assessment of RM capabilities • Review of risk evaluations in each function • Ensuring actions to treat exposures are implemented • Ensuring all functions evaluate their risks consistently • Evaluating the results and challenging them where necessary • Identification of exposures • Reviewing risk registers • Imperatives for change – RBA planning • Basing audit programmes on most significant risks 15 – 19 June 2014 7 – 11 December 2014Advanced Audit Techniques T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • • Comparing perceived versus actual controls • A risk management evaluation tool will be provided Exercise 4 – The challenges in auditing the risk management process Day Two The Wider Internal Audit Brief Auditing The Audit Committee Process • The Audit Committee role • Structure and independence • Does the Committee approve (but not direct) Internal Audit strategy, plan and performance? • Does the Committee review summary IA reports and the main issues arising and seek assurance that action has been taken? • How does the Committee consider the reports of external audit and other external agencies? • How are the effectiveness of relationships between IA and EA and other bodies reviewed? • How are the effectiveness of the risk management environment and anti fraud arrangements assessed? • The Audit Committee/IA relationship • New paper on how the Audit Committee should assess IA • Case study and audit programme will be provided • How does the Committee satisfy itself that assurance statements and the annual statement of accounts properly reflect the risk? • An Audit Committee checklist will be shared Exercise 5 – The Audit Committee challenges Continuous Auditing • The IIA Global Technology Audit Guide (GTAG) • The practicalities of continuous auditing • Paper – fantasy or reality • Continuous assurance – new guidance • Continuous auditing and continuous monitoring • The use of CAATs for continuous auditing • Continuous risk assessment techniques • Examples of continuous auditing - Segregation of duties - Purchase orders - System access logs - Purchase cards • A paper on continuous audit using ACL will be shared • New GTAG on audit sampling Exercise 6 – Opportunities for continuous auditing Auditing Complex Business Areas • Environmental auditing - Environmental risks - Energy management audit - Water management - Waste management • Auditing the marketing function - The benefits - Case study - The 7Ps - Determining metrics • Auditing performance management - The performance framework - Risks and responses - Audit considerations Exercise 7 – Complex problems Auditing Brand And Reputation • The rise of reputation as a key risk • The increasing importance of a positive image – the need to be admired • Where does reputation come from? • How do you measure it? • The magnifying effect of business failures on reputation • Global brands • How to judge reputation • Identifying reputational risks • A checklist for reviewing reputational risk will be provided to all delegates Exercise 8 – Auditing a reputational disaster Day Three Auditing Joint Ventures And Outsourced Operations Auditing Joint Ventures (JVs) And Partnerships • Ensuring that there is a risk strategy for JVs • What protocol is in place? • What is the review mechanism? • Is it effective? • What is the frequency for review by the management? • What is the mechanism to guide management in attending JV meetings? • Does anyone know the number of JVs and partnerships you are involved in and how much money and other resources are invested in them? • Has each JV been risk reviewed? Case Study – What can go wrong in JVs and partnerships Reviewing A Current JV Or Partnership • Rationale • Added value • Decision making • Performance • Finance • Problems • Termination Exercise 9 – Select 2 JVs or partnerships – one you regard as successful and another less so. Complete the checklist and try to identify the main differences Auditing Outsourced Contracts • Overview of outsourced contract management • Outsourcing objectives • Transfer of risk • Outsourcing delivery models • Roles and responsibilities • Different approaches to outsourcing • The key risks - Picking the wrong contractor - Higher costs - Negative impact on service - Loss of control - Loss of knowledge or resources - Difficulty of bringing the activity back in-house - Loss of public focus - Conflicting objectives - Payment issues - Contract variations • Assessing the contract • How to assess continuing viability – performance management • Right to audit clauses • A new paper on auditing external business relationships Exercise 10 – Challenges of auditing external contracts Auditing Business Continuity Management • The importance of Business Continuity Planning (BCP) • The need to recognise BCP is not just about IT recovery • Reviewing the different types of disaster – have all been considered? • Does the organisation’s leadership understand the current business continuity risk level and the potential impacts of likely degrees of loss? • Can the organisation prove the business continuity risks are mitigated to an approved acceptable • Are they tested effectively? • Is the Board well set up to respond swiftly and capably in a crisis? • The transition from an emergency to a disaster and the questions to ask at each stage T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • • Is there an appropriate contingency plan ready to be used to manage a crisis? • Communication testing • Alternative site testing • A paper on BCP resilience will be shared Exercise 11 – BCP audit discussion Day Four CSR And VFM Audit Social Responsibility, Ethics And Meeting Stakeholder Expectations • The increasing importance of Corporate Social Responsibility (CSR) • New IIA standard 2110 re-auditing of ethics • What constitutes CSR? • The wider aspects of CSR and the implications for IA • Doing responsible things responsibly • A paper on auditing ethics will be provided • Redefining the IA role with CSR in mind • An audit framework • How to audit CSR – key steps - Is communication with main stakeholders taken seriously? - Are the expectations of these stakeholders accurately understood, and what are the risks that these will not be met? - Are opportunities taken to develop the ethical reputation of the business? - How do we ensure that staff have and display the right attitudes? - Has the business assessed its reputation for social responsibility and its impact on your business prosperity? - Is the Board, and in particular the Chief Executive, sensitive and responsive to the concerns of customers? Exercise 12 – CSR and meeting expectations – the audit challenges The Modern Approach To Value For Money (VFM) Auditing • What is VFM auditing? • How does it differ from other audit approaches? • The relationship between VFM and other types of audit • The benefits of VFM auditing • The associated dangers e.g. trying to quantify non-quantifiable savings The 3 Es • The 3 Es – the cornerstone of VFM auditing • Economy and how it can be evaluated • Examples of poor economy • Efficiency and how it should be assessed • Why it is critical to evaluate efficiency – with examples • Effectiveness and how it can be assessed • Identification of inputs and outputs • How to measure the 3 Es Exercise 13 – VFM review of customer service Key Steps In Completing a VFM Review • How to select VFM topics • The research phase • Objectives, methodology and techniques • Establishing terms of reference (how this differs from a traditional assignment) • Defining the boundaries of the review • Gathering of information • Evaluation of data and effectiveness of management processes • Evaluation of performance and cost saving potential • Measuring the benefits Exercise 14 – Assessing performance via PIs VFM Audit Techniques • The range of techniques • Comparative analysis • Evaluating effectiveness, efficiency and economy • Evaluating productivity in practice • Working with other specialists • Measuring opportunities Case Studies With Hints, Tips And Practical Advice • Practical applications for VFM – open discussion with an opportunity for delegates to raise specific concerns and ideas Exercise 15 – VFM audits – topics will be chosen by the delegates and the audit brainstormed Day Five Auditing In The IT Arena Auditing IT Projects • New GTAG IT risks • Project management audit - Project organisation - Content and scope - Time management - Cost management - Quality management - HR issues - Communication - Reporting - Risk management - Procurement • Other types of project audit - Business case audit - Business requirements audit - Project framework audit e.g. use of PRINCE - Post project audit Exercise 16 – Completing an IT project audit Auditing Systems Under Development • Why auditing systems under development need not compromise your wider audit role • The need to audit at key stages – not to be part of the project team • Ensuring that the processes and policies are complied with • Determining the points of potential failure • Ensuring controls are not bypassed – due to time constraints • Ensuring risks are identified at the start and regularly reviewed • Ensuring sufficient end user involvement • Audit stages and the questions to ask Exercise 17 – Challenges of systems development audit IT Auditing For Non IT Specialists • Global Technology Audit Guides (GTAGs) - Information technology controls - Management of IT auditing - Managing and auditing IT vulnerabilities - Auditing application controls - Information technology outsourcing - Identity and access management - Change and patch management controls - Managing and auditing privacy risks - Developing the IT audit plan • What can be done without specialist IT audit resources? • New paper on automated transaction testing • The need to determine the boundaries • Defining the IT audit universe - Focus on high risk areas - Assess IT vulnerabilities • Target areas where you are focusing on process rather than technical aspects • Use of audit frameworks such as CoBIT and ISO 27000 • The need to review IT governance – IIA new standard • Risk based audit of general controls (GAIT) • IIA guidance regarding GAIT • An ISO 27000 audit checklist will be shared Exercise 18 – Challenges of IT audit T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • After Completing This Course You Will Be Able To: • Benchmark your IA function against worldwide best practice • Make the transition from a good function to a great one • Quality assure your function in line with IIA requirements • Build a world-class team • Manage the audit process more efficiently and improve strategic audit planning • Deal with the challenges of consultancy • Manage effective investigations • Meet the governance challenges • Deliver stakeholder assurance more effectively CPE Credits • Delegates can earn up to 30 CPE credits (18 in the auditing field of study, 6 in the communications field of study and 6 in the personal Development field of study) Who Should Attend? • Heads of Internal Audit • Audit Managers and those about to be appointed to that role • Directors responsible for Internal Audit • Heads of other assurance functions such as Compliance or Quality Assurance • This course is specifically for the most senior audit professionals Course Level • This is an advanced level course and delegates should be Head of the Internal Audit function or a senior manager in the IA or other assurance role to attend • Delegates should have a good educational standard (Bachelors degree or above) and/or a professional qualification • No advance preparation is required • Delivery method – Group-live (with exercises and case studies to provide practical application of the tools and techniques) • A pre-course questionnaire will be sent out 2-3 weeks prior to the course date to obtain some information about the delegate’s role and to provide an opportunity to indicate specific learning requirements New For 2014 • A new paper on working with stakeholders will be shared • New advice on auditing strategy • New research papers from the ECIIA, E & Y and Protiviti • Recent professional guidance and practice advisory statements • New Audit Committee evaluation checklist • New guidance on co-sourcing • New guidance on managing dispersed teams • New IIA guidance – maturity models for assurance • New IIA integrated auditing guidance • New IIA guidance on audit plan preparation • A new paper on engaging senior management will be shared • 20 questions directors should ask the CAE Why You Should Attend This course is unique in that it is targeted specifically to the most senior assurance professionals – and is based on a series of round table discussions on the key aspects of a modern Internal Audit function – and the challenges faced by the ever changing world economy. Certificate V Course Timings: Registration will be at 08:00 on Day One. The course will commence at 08:30 every day and finish at 14:30. There will be breaks for refreshments at approximately 10:30 and 12:30 and lunch will be served at the end of each day’s session. A wide range of key topics will be discussed – such as meeting the changing needs of stakeholders, developing more proactive relationships with the Audit Committee, auditing corporate social responsibility and the challenges of making successful presentations. The course represents a superb opportunity to meet your peers from both your sector and others and develop new approaches to the difficult challenges facing audit managers and Heads of Audit today. The course also includes opportunities to discuss issues of your choosing with fellow decision makers in the IA profession. Day One The Future Of Internal Audit In The MENA Region The Significant Changes In The Internal Audit Role • How the IA profession has changed in the last 10 years • The transition from a systems based approach to Risk Based Auditing • Key messages from the IIA Body of Knowledge survey • Deciding the strategic direction for your function • Pulse of the profession survey results • E & Y and Protiviti survey results • IIA becoming more effective guidance will be shared • ECIIA research paper – making the most of the IA function • Ensuring effective communication lines between the CAE and the Board • Gaining assurance regarding the quality of the function’s work • Overseeing the relationship between the IA function and the organisation’s centralised risk monitoring function • Monitoring management follow-up of IA recommendations Round Table Discussion 1 – The challenges facing Internal Audit in the region • Feedback and discussion – and ideas for dealing with the challenges – generated by the delegates Meeting Stakeholder Expectations • Who are the stakeholders? • Are stakeholders’ expectations known? • Are the expectations clear? • How can you meet the widely differing expectations? • Are there any areas where expectations could be exceeded? • Are there any quick wins? • What reports should IA provide to stakeholders? • A new paper on working with stakeholders will be shared • New advice on auditing strategy Round Table Discussion 2 – Meeting the ever expanding needs of stakeholders – what should the IA role be? • Feedback and discussion – and ideas for dealing with the challenges – generated by the delegates Benchmarking Or Quality Assuring Your IA function • The power of benchmarking - To demonstrate excellence - To meet Board and Audit Committee challenges - To identify opportunities - To recognise progress made - To ensure best practice is being followed 22 – 26 June 2014 14 – 18 December 2014Leading The Internal Audit Function T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • • The need for external evaluation as per the IIA standards - Should be conducted at least once every 5 years - By a qualified external reviewer - Results should be given to the Board • New QA checklists will be shared Round Table Discussion 3 – Quality assuring the function – achievements and challenges • Feedback and discussion – and ideas for dealing with the challenges – generated by the participants Recent Professional Guidance And Practice Advisory Statements 2013 • Risk management • Senior management resolution of risk • Management expectations • IT governance • Fraud risk • Business ethics Day Two New Challenges Proactive Audit Committee Relationships • How to create the correct relationship with the Audit Committee (or the Board if you do not have an Audit Committee) • The need for at least one Audit Committee meeting per year exclusively for Internal Audit • The need for one–to –one meetings with the Chairman of the Audit Committee • The need for the Committee to approve (but not direct) Internal Audit strategy, plan and performance • How should the Audit Committee assess IA performance? • The annual report for the Audit Committee – best practice ideas • Are effective relationships between IA and EA and other bodies reviewed by the Audit Committee? • Is the effectiveness of the risk management environment and anti-fraud arrangements assessed – what information should be provided by IA? • Two new Audit Committee evaluation checklists will be provided Round Table Discussion 4 – Assessing the Audit Committee/ Board relationship • Feedback and discussion – and ideas for dealing with the challenges – generated by the delegates Building World-Class Internal Audit Teams • The recruitment dilemma – what if you cannot get the talent you need • Determining a strategy for building the team • Sources of talent – growing your own or recruiting from outside? • New guidance on co-sourcing • Should you try to recruit personnel with previous IA experience? • Which is more important – knowledge of your sector or IA knowledge? • Use of coaching • Performance management – what are the most effective measures? • What skills should you be looking for? • Checklist of issues to assess in a potential auditor • New guidance on managing dispersed teams will be provided • Succession planning Round Table Discussion 5 – The challenges of recruitment in the Gulf market • Feedback and discussion – and ideas for dealing with the challenges – generated by the delegates Challenges For Internal Audit • Auditing outsourced operations - Should these operations be audited? - How should you tackle such assignments? - Ensuring contracts include the right to audit • Value for Money (VFM) Auditing - What is VFM? - What are valid VFM topics? - Does your audit programme target areas of opportunity as well as risk? - Do you measure the value of monetary savings made as a direct result of your audits? - Are these savings known to and recognised by management? • Corporate Social Responsibility Auditing - What is CSR? - Does it need to be audited? - The importance of ethics and how it should be reviewed - A new paper on auditing ethics will be provided - The need for transparency and accountability - Challenges of CSR in the Gulf region Round Table Discussion 6 – Audit challenges (Topics to be chosen by delegatess on the day) – this is your opportunity to table any issue that you would like to discuss with your peers • Feedback and discussion – and ideas for dealing with the challenges Day Three Risk And Governance Risk Management And Internal Audit • The need to focus audit attention towards the most significant risks • New IIA guidance – maturity models for assurance • The need for much higher levels of assurance than ever before • What level of assurance can really be provided? • What should be the audit role in relation to identification and managing of risks • What should the IA role be if your organisation has or does not have a risk management function? • Could working with management to identify and evaluate risks compromise the independence of the function? • How should audit plans be developed to ensure the correct risk focus? • Is Risk Based Auditing a methodology or a state of mind? • Why has it become so important? • What are the ideas behind RBA? • Is RBA a revolution or an evolution? • Can such an approach really enhance the profile of IA within the business? • New IIA integrated auditing guidance will be shared Round Table Discussion 7 – What does Risk Based Auditing mean to you? What are the challenges in driving better risk awareness? • Feedback and discussion – and ideas for dealing with the challenges – generated by the delegates Corporate Governance And The IA Role • What is Corporate Governance? • Key challenges for the Gulf region – Hawkamah research • Meeting stakeholder requirements • How the organisation is managed on behalf of the stakeholders • Developments in CG – new paper • The audit role in the CG process • The risk focus of the function (and the relative roles of other assurance providers) T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • • Coordination with other assurance providers • A guidance paper on assessing organisational governance will be provided • The external audit relationship • Role in fraud prevention and investigation • Managing reputation - Is communication with main stakeholders taken seriously? - Do the goals and values of the business, as well as its principal policies on conduct, sufficiently address the main areas of reputational risk? - Are corporate values shared? - How is sufficient coverage of different business issues achieved within the policy statements and codes of practice, and is reputational risk addressed appropriately in each case? - Are policies governing reputation management clearly communicated internally? • Crisis management - Is there an appropriate contingency plan ready to be used to manage a crisis? Round Table Discussion 8 – The challenges of Corporate Governance • Feedback and discussion – and ideas for dealing with the challenges – generated by the delegates Strategic Audit Planning • Determining audits priorities • Determining the audit universe • Building Risk-Based Audit plans • Tapping into risk assessments carried out by management • Determining the level of assurance required • Getting management input • New IIA guidance on audit plan preparation will be provided • Audit planning model – an electronic version will be provided to all delegates Round Table Discussion 9 – Strategic audit planning – how to convince senior management and the Audit Committee that you are auditing the right topics Day Four Managing The Audit Process • Building an understanding of the audit process • Establishing audit objectives • The audit manual • Developing effective audit programmes • What makes a good programme? • Mistakes to avoid • The dangers of re-inventing the wheel • Assigning tasks • Staffing factors • The need for regular updates for standard programmes • Supervising and controlling audits – tips for success Round Table Discussion 10 – What makes a good audit manual and effective audit programmes Working Paper Review • The need to motivate not criticise staff • The need for peer review during the audit • How to ensure all areas are covered • Identification of key review points • How to write value-added review notes • Tips for electronic working papers • Quality control mechanisms Round Table Discussion 11 – Working paper reviews Consultancy Assignments • The IIA standards • Why consultancy should be encouraged • The difference in approach • How to document these assignments • Reporting consultancy assignments • Audit by workshop • Facilitation –dos and don’ts Round Table Discussion 12 – How to convince management that consultancy is the direction for Internal Audit Investigations • Investigations – the major differences from standard audits • Which investigations should IA accept? • How can this decision be made? • The skills required • The need for perfect audit trails • Difficulties Round Table Discussion 13 – Challenges of investigations Day Five Convincing Management • A new paper on engaging senior management will be shared • 20 questions directors should ask the CAE • The need for effective presentations by senior audit management • Determining the audience and preparing an appropriate approach • The need for impact • Deciding the form of presentation • Use of visual aids • How many notes should you use • Use of humour – is this a good idea? • Education or decision seeking – the different techniques • How to deliver a successful presentation - How to combat nerves - Keeping in control - How to deal with questions - Keeping the flow - The need not to over prepare - Use of simple language - How to keep the audience’s interest - Use of props - Anticipating the questions - Considering what the audience will expect - Assessing the results - Getting feedback Round Table Discussion 14 – Challenges of making successful presentations • Making presentations Open Forum • An open forum will be held to discuss any topic of interest. A number of topics will be tabled – you can highlight the issues you would like to discuss on the day • Topics could include :- - How to deliver world-class reports - The challenges of Internal Audit within a family-owned business - How to audit in an increasingly complex IT environment - Continuous auditing - How to make better use of CAATs - Auditing ISO 31000, 14001 etc - Selling IA to the business better - The role of IA in project management T: +971 4 335 2437 F: +971 4 335 2438 E: register@iirme.com W: www.iirme.com/auditcertificate
  • FIVE WAYS TO REGISTER IIR Holdings Ltd. P.O Box 9428, Dubai, UAE +971 4 335 2437 +971 4 335 2438 register@iirme.com www.iirme.com/auditcertificate DISCOUNTS AVAILABLE FOR 2 OR MORE PEOPLE CALL: +971 4 335 2483 E-MAIL: a.watts@iirme.com COMPANY DETAILS Course fees include documentation, luncheon and refreshments. Delegates who attend all sessions and successfully complete the course assessment will receive an IIRME Certificate of Completion. Any complaints, grievances or suggestion regarding CPE credit may be addressed to email: grievance@businessrisk.co.uk To assist us with future correspondence, please supply the following details: Event Venue: Dusit Thani Hotel, Dubai, UAE Tel: +971 4 343 3333 Accommodation Details We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience. You can contact the IIR Hospitality Desk for assistance on: Tel: +971 4 407 2693 Fax: +971 4 407 2517 Email: hospitality@iirme.com © Copyright I.I.R. HOLDINGS B.V. 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FN08SN/ST Finance SM BC5217/BC5218/BC5219/BC5220/BC5221/ BC5222/BC5223/BC5224/BC5225/BC5226 Card Payment If you would like to pay by credit card, please tick here and a member of our team will contact you to take the details All registrations are subject to our terms and conditions which are available at www.iirme.com/terms. Please read them as they include important information. By submitting your registration you agree to be bound by the terms and conditions in full. Payments A confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges. In any event payment must be received not later than 48 hours before the Event. Entry to the Event may be refused if payment in full is not received. Cancellation If you are unable to attend, a substitute delegate will be welcome in your place. Registrations cancelled more than 7 days before the Event are subject to a $200 administration charge. Registration fees for registrations cancelled 7 days of less before the Event must be paid in full. Substitutions are welcome at any time. Avoid Visa Delays - Book Now Delegates requiring visas should contact the hotel they wish to stay at directly, as soon as possible. Visas for non-GCC nationals may take several weeks to process. All registration(s) are subject to acceptance by IIR which will be confirmed to you in writing. Due to unforeseen circumstances, the programme may change and IIR reserves the right to alter the venue and/or speakers. Would you like to run this course in-house? Save training $$ and create learning experiences relevant to your business. To customise this course and increase value and impact, contact Leigh Kendall on +971 4 407 2624 or email the team at cts@iirme.com Certificate In Internal Audit Dusit Thani Hotel, Dubai, UAE Event Certificate I Essentials Of Internal Audit Certificate II The Developing Internal Auditor Certificate III Risk Based Auditing Certificate IV Advanced Audit Techniques Certificate V Leading The Internal Audit Function Book 11 Weeks Before Start Of Course Final Fee BC5217 9 – 13 February 2014 BC5222 31August – 4 September 2014 BC5218 9 – 13 March 2014 BC5223 12 – 16 October 2014 BC5219 16 – 20 March 2014 BC5224 19 – 23 October 2014 BC5220 15 –19 June 2014 BC5225 7 – 11 December 2014 BC5221 22 – 26 June 2014 BC5226 14 – 18 December 2014 Date and Codes Book 8 Weeks Before Start Of Course US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,395 US$ 4,895 US$ 4,895 US$ 4,895 US$ 4,895 US$ 4,895 US$ 4,895 US$ 4,895 US$ 4,895 US$ 4,895 US$ 4,895 US$ 5,195 US$ 5,195 US$ 5,195 US$ 5,195 US$ 5,195 US$ 5,195 US$ 5,195 US$ 5,195 US$ 5,195 US$ 5,195 Early Bird Discounts Delegate DETAILS To Register Call Howard Fernandes at 00971 4 4072657 or Email him at howard.fernandes@iirme.com