Internal Audit Training, IT Audit Training Courses, Information Security Training - CPE Interactive

Continuing Professional Education for Audit, Assurance, & Info Security

Course Description

Developing an audit work program can be a daunting process, especially when the audit area is one with which the auditor is unfamiliar, and/or has not been audited previously. This course will take the mystery and pain out of the process by introducing a methodology called “Closing the Loop Framework”. It provides a foundation for how to develop audit steps based on audit scope and the evidence required to achieve audit objectives. Less experienced auditors will learn how to build the audit program, and experienced auditors will have an opportunity to refresh their skill-set and consider the Closing the Loop Framework as a tool for improving audit quality. You will have the opportunity to build components of an audit program in a workshop.
In this seminar, we will discuss the critical issues to be considered:

  • Fundamental requirements for audit work programs referencing audit standards and generally accepted practices
  • Planning performance, financial, compliance and IT audits
  • Using the Closing the Loop Framework to ensure completeness and quality of the planning and audit execution process
  • How well-developed audit work programs support the management and quality assurance of audits

Learning Objectives

  • Gain an understanding of the role of the Audit Work Program
  • Become familiar with Standards-based Requirements for Audit Work Programs
  • Strengthen one’s skills in developing audit steps and audit work programs
  • Understanding how Checklists and Internal Control Questionnaires can be used

Course Outline

Setting the Stage - Role of Audit and Audit Evidence

  • Defining Audit Evidence
  • Impact of Audit Evidence on Audit Risk
  • Requirements from Auditing Standards
  • Audit Charter
  • Compliance
  • Audit Work Plan vs Audit Checklist

Audit Development Cycle

  • Defining the Closing the Loop Process

Discovery

  • Understanding the Business Processes
  • Documenting Business Processes
  • Performing and Documenting the Audit-Focused Risk Assessment
  • Define Control Objectives
  • Translating Business Processes to Control Objectives

Identifying Control Criteria

Develop Audit Objectives

  • Importance of linking Audit Objectives to Operational and Control Objectives
  • Incorporating Risk-Based Auditing into Audit Strategies

Define Audit Criteria

  • Linking audit criteria to work programs

Build Audit Steps

  • Building Audit Steps from Criteria-based Evidence
  • Designing Audit Work Programs for Standards Compliance
  • Ensuring that Audit Steps Developing during the Audit are included in the Audit Work Plan
  • Identifying Skills and Knowledge for Developing Audit Work Programs
  • Incorporating Appropriate Audit Techniques into Audit Work Programs
  • Understanding the importance of Timing and Sequencing Audit Steps
  • Good Practices for Audit Steps or Procedures
  • Techniques for Evaluating and Modifying if necessary Existing Audit Work Programs
  • Developing and using Checklists and Internal Control Questionnaires to support Audit Work Programs

Develop Audit Results

  • Using Audit Work Programs to help draw Conclusions and develop Audit Reports

Quality Assurance

  • Using the Closing the Loop Framework for developing and Strengthening Audit Work Programs

Additional Information

Who Should Attend

Internal and external auditors

Learning Level

Intermediate

Delivery

Group-Live

Field

Auditing

Advanced Preparation

None

Recommended Prerequisites

At least 3 years’ general audit experience

Session Duration

Online: N/A

On Site: 2 days

CPE Credits: 16