One of the most difficult skills associated with auditing is determining the propriety of audit evidence; does it support the audit objective, is it enough, is it too much and inefficient, and how does professional judgment affect the quality and quantity of auditing procedures.
This training session will provide you with skills and techniques necessary to identify the appropriate evidence to support the audit conclusion. The tools and techniques shared will also provide you with approaches to guide your use of critical thinking skills to facilitate the gathering of audit evidence. Real life examples of strong and weak evidence will be provided to further the learning process.
Finally, the course will be interactive and provide opportunities for you to practice what you learn.
- Review the importance of appropriate, sufficient and persuasive audit evidence
- Discuss the meaning and application of professional judgment
- Identify the types of evidence and discuss methods, techniques and tools to gather information to support audit objectives/results
- Provide examples of the link between methodologies and evidence gathered to support audit results
- Provide a sample of the critical thinking process
- Demonstrate how critical thinking helps improve audit evidence
- Compare and contrast auditor judgment and critical thinking skills
- Review ways to develop critical thinking to enhance the audit process
- Demonstrate how to determine that the evidence gathered is appropriate, sufficient and persuasive to support audit conclusions
- Identify the different types of evidence and how to best use them during the audit process
- Understand the importance and use of evidence during audit engagements
- Learn new methods and approaches to gather evidence
- Obtain the steps of a critical thinking process
- Develop critical thinking skills for future use
- Participate in exercises to strengthen critical thinking in the audit process
- Use the tips, tools and techniques to gather audit evidence that is appropriate, sufficient and persuasive to support audit results
- Why important?
- Different types of evidence
- Methods to gather evidence
- Best types of evidence
- Determine and review audit evidence that is appropriate, sufficient and persuasive to support audit conclusions – examples provided
- Applicable Standards related to evidence
- International Standards for the Professional Practices of Internal Auditing - IIA
- Government Audit Standards – GAO
- IT Standards, Guidelines, and Tools and Techniques for Audit and Assurance and Control Professionals – ISACA
- What is professional judgment?
- How it use it?
- Developing/strengthening professional judgment
- Examples to reinforce use
Linking Methodologies and Evidence Gathered
- Traditional evidence & evidence gathered
- Identifying the best & most efficient way to gather needed evidence
- Developing a testing plan/approach
- Sharing methods & identifying practices/examples to gather appropriate, sufficient and persuasive evidence
- Linking the audit objective and the evidence gathered
- What is it?
- Provide key terms/definitions
- Identify how critical thinking strengthens the evidence gathering process
- Provide the similarities & differences between auditor professional judgment & critical thinking skills
- Identify ways to use critical thinking to enhance the audit process
- Critical thinking process example
Who Should Attend
Internal audit staff and management
Group-Live & Group Internet-Based
Auditors with at least 2 years’ experience in order to draw upon their professional audit experience
Online: Two 3-hour sessions
On Site: 1 day
CPE Credits: 8