Internal Auditing - Level 1
Introduce a level of professionalism into auditing
Accredited by: LONDON INSTITUTE OF SKILLS DEVELOPMENT SIGNATURE PROGRAMME
Who should attend?
- Delegates who have some experience of auditing, either directly as an auditor or from within the financial services sector seeking to develop a professional and best practice approach to the development of the internal audit function in private and public sector organisations and enterprises.
- Junior Managers, Fresh Graduates & Final Semester Students to acquire a promising career in a reputable organization.
Learning Objectives
By the end of the course delegates will be able to:
- Describe the expanded internal audit function
- Promote the conduct of effective audits and reporting
- Promote financial crime risk management in the organisation
- Engage effectively with stakeholders
- Ensure objectivity of the audit team
- Implement enhanced internal audit structures
Course Content
The Role and Function of Internal Audit
- Key goals of the internal audit function
- Ensuring auditor objectivity
- Avoidance of conflicts of interest within auditing
- Auditor skillset
Conducting Effective Audits
- Pre-audit planning
- Effective audit sampling techniques
- Recording findings during auditing
- Effective stakeholder engagement
Audit Structures
- The audit committee’s role
- Developing the audit charter
- The external auditor’s role
- Developing and improving best practices
Financial Crime Risks
- Money laundering, terrorist financing and sanctions risks
- AML controls
- CTF controls
- Sanctions controls – matches
- Trade-based money laundering risks
- Customer due diligence controls
- Enhanced customer due diligence controls
- Consideration of money laundering risks in practice evidenced by the organisation
- Beneficial Ownership Transparency – individuals and entities
- Testing operational efficiency v. financial crime risk prevention in practice
- Training and awareness programmes
Audit Report Writing
- Ensuring objective comments
- Ensuring use of constructive language
- Financial crime compliance terms and abbreviations for internal auditors
- Improvement recommendations
- Continuous improvement techniques