Page 19 - Verracy's 2019 Course Catalogue

Internal Audit
Internal Audit

Auditor-In-Charge Skills Development Effective Identification and Testing of
Internal Controls

IA-107 16 IA-108 16

CPEs CPEs

The role of Auditor-in-Charge is a significant change from that Properly identifying, evaluating, and testing controls can be
of a staff auditor. Having the right knowledge, tools, and tech- more difficult than anticipated in most organizations. The
niques can make the difference between a smooth transition Public Company Accounting Oversight Board (PCAOB) routinely
and a painful one for everyone involved. This course will lay out expresses concerns regarding the effectiveness of the testing
the knowledge and skills necessary to make a successful leap to completed for Internal Controls over Financial Statement
the role of Auditor-in-Charge through an integrated approach of Reporting by both internal and external auditors. While publicly
lecture, group exercise, real-life case studies, and discussion. traded companies can face extensive scrutiny over the effective-
Participants will be introduced to the IPPF standards and each ness of their internal control environment, every organization
phase of the audit—from planning to wrap-up—will entail learn- benefits from effective controls. To ensure a control environ-
ing proven techniques for success. ment is indeed effective, auditors must know how to properly
identify controls, assess their design, and test their operating
The course will focus on delivering a quality product for the effectiveness.
organization while ensuring productive relationships with clients
and meeting on-time, on-budget audit goals. This course will teach auditors effective methods for planning,
designing, assessing, and executing effective controls testing.
The course is interactive, and participants will learn from
lecture, discussions, and hands-on exercises. A case study
will be used to develop an actual test program.

What You Will Learn: What You Will Learn:
• Understanding how to effectively plan and prepare for audit • Learning to develop an effective test program
• Learning how to keep the audit in scope and on time • Determining the appropriate sampling and testing
• Learning how to effectively manage client relationships approach to use
• Understanding how to develop an effective risk-based • Learning testing methodologies—manual, automated,
audit plan and others
• Learning proper and effective methodologies for prioritizing • Determining the testing objectives—aligning with business
risks and the audit plan objectives
• Learning effective supervision methods for the field work • Learning to identify, evaluate, and prioritize risks
• Understanding that risk prioritization drives the test plan
• Learning to identify, assess, and test controls
• Determining what to test—key controls, high-risk processes
• Using narratives, flowcharts, and walkthroughs to identify
gaps and potential risks

Group Live | 2 Days | Intermediate | Auditing Group Live | 2 Days | Basic | Auditing
Who Should Attend: New and existing Auditors-in-Charge, Who Should Attend: Internal Audit Staff & Management
Audit Management & Senior Auditors Prerequisites: None
Prerequisites: Auditors with at least 2 years of experience

+1 (877) 332-8708 | verracy.com/training