Course Description
As auditors, we perform assessments of our IT and business project management processes for controls, effectiveness, and efficiencies. But do we practice what we preach four out audits? We have all experienced audits with a duration well over budget. Where did these audits go off course?
Good project life cycle concepts and project management are major components that ensure the timely execution of a project within scope. Audits are projects and the same concepts can be used to assure timely completion of audits on budget within scope. Understanding the value of project management techniques to managing audits and the importance of using critical thinking improves the audit process.
This course focuses on project management good-practices and relates them to the audit process. Using the Closing the Loop Framework, we will define and walk through how to build a strong well-defined audit planning and execution process.
Your will discuss:
- Project management concepts for managing audits
- Effective audit reporting techniques
- Audit performance metrics
Learning Objectives:
- Improve the audit process
- Achieve audit goals and objectives
- Deliver audits on-time, on-budget, within scope
Course Outline
Fundamentals of Project Management
- Project management phases
- Project management good-practices
Audits as a Project
- Audit processes as project components
- Audit risk versus project risk
Managing Audit Resources Through Project Management
- Identifying audit resources
- Assessing resource reliability
- Measuring and tracking resource value
Leveraging the Value of Project Management to Audit Success
- Building objectives and deliverables
- Defining phases and checkpoints
- Framework for audit objectives and steps
- Meeting audit standards
Audit Planning
- Defining key deliverables
- Aligning audit objectives to controls
- Using the Closing the Loop Framework to enhance audit planning
- Translating client requests into audit objectives and deliverables
- Estimating resources and scheduling
Conducting the Audit
- Managing the resources, budget, and scope
- Managing scope creep and unnecessary procedures
- Approving scope or critical path changes and modifying the schedule
- Status reporting as a management vehicle
Monitoring and Evaluating Audit Performance
- Performance measurement and maturity model concepts
- Balancing audit risk and efficiency
- Apply metrics to audit progress reporting and resource tracking
- Defining quality requirements and building quality management into the audit process
- Implementing quality assurance and control techniques
Audit Closure
- Critical components for closure
- Auditee involvement
- Deliverables versus delivered
Reporting
Additional Information
Who Should Attend
- Internal auditor management
- Internal audit staff
Learning Level
Intermediate
Delivery
Group-Live & Group Internet-Based
Field
Auditing
Advanced Preparation
None
Recommended Prerequisites
Two or more years experience performing audits
Session Duration
Online: Two 3-hour sessions
On Site: 1 day
CPE Credits: 8