Developing, Improving & Monitoring
the Internal Audit Function

Internal Auditing is an essential and integral function of all leading international companies. A well designed and effective internal audit system will not only provide verification and support that accounting and financial policies, procedures and controls are working adequately, it will also ensure efficient and effective processes and procedures. Internal auditing is essential to improve performance and profitability protecting both the company and its employees. All organizations require an appropriate system of internal controls to protect itself from the growing risk of fraud. Delegates attending this Anderson training course will learn how to develop and/or improve their existing audit function and how to monitor policies, procedures and financial transactions and assets to international standards thereby securing continued financial success, stability and growth of world-class organization.

By attending this Anderson training course, delegates will be able to:

• Understand the role and function of an Internal Audit Department.
• Evaluate the effectiveness of the existing internal audit function
• Recommend improvements to the existing audit function
• Monitor the effectiveness of policies, procedures and financial transactions to international standards
• Understand audit risk and efficiently plan, control and record an audit assignment
• Conduct post-audit reviews and compile internal control updates for Boards of Directors

The Anderson training course is designed for a wide range of professionals involved in the budget process, including, but not limited to:

• Senior and Middle Management that communicate with the internal audit department
• Audit Management and staff who wish to develop their audit skills
• Financial and non-financial professionals who may be appointed to support or interface with an Internal Audit Committee
• Non-financial professionals whose role is subject to audit
• Team managers and supervisors

• Defining the Distinctions and Responsibilities between Internal and External Auditors
• Identifying the Internal Audit Staff Positions
• Identifying Internal Audit Staffing Requirements
• Techniques for Ensuring Credibility for the Internal Audit Team
• Developing the Audit Committee Charter for a Board of Directors
• Review of Statements on International Auditing Standards Update and General Auditing Practice Issues

• Fraud and Forensic Audits
• Compliance Audits
• Operational Audits
• Information Systems Audits
• Financial Audits
• Risk Factors & Audit Risk Alerts

• Developing Streamlined Processes for Conducting Internal Audit Examinations
• Identifying Effective Audit Programs for the Various Types of Audits
• Risk-Based IT Audit Procedures
• Key Considerations for your Internal Audit Plan
• 20 Questions Directors Should Ask about Internal Auditing
• The Audit Commencement Conference Meeting

• Evaluating Internal Controls & Substantive Procedures
• A Detailed Examination of the Budget Process & Budgetary Controls
• Planning & Conducting Audit Interviews
• Accumulating Relevant Documentation during the Internal Audit Process
• Professional Standards and Responsibilities Associated with Internal Auditing Documentation
• Sampling & Statistical Analysis to ensure a Representative Sample

• The Internal Audit Draft & Final Report: - Findings and Suggestions for Areas of Improvement
• Planning the Audit Exit Conference Meeting
• Distributing the Final Internal Audit Report within the Organization
• Client Survey
• Conducting Post-Audit Reviews/Follow Up Audit
• Improving Corporate Governance

Anderson Certificate of Completion will be provided to delegates who attend and complete the course