Internal Auditing - Level 3
Enhance the specialist and advisory role of the internal auditor
Accredited by: LONDON INSTITUTE OF SKILLS DEVELOPMENT SIGNATURE PROGRAMME
Who should attend?
- Delegates who have 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:
- Develop the role of the audit function in their organisation
- Contribute effectively to refining organisational audit strategy
- Engage continuous improvement and quality assessment within the organisation’s audit function
- Make high impact presentations to auditing committees and senior management
- Manage the integration of new technology
- Test embedded financial crime systems and controls
Course Content
Review of Key Audit Function Foundations
- Review of key action points
- Develop and test alignment of organisational systems and controls to prevent and mitigate financial and cyber-crime risks
- Global best practice – case studies – lessons learned analysis
- Key action points – delegate and manage action plan development
Audit reports – Working with Stakeholders
- Effective post audit de-briefing
- Root cause analysis and remediation recommendations
- Developing departmental action plans with stakeholders: contributing to the delivery of compliance 2.0
- Managing conflict situations
Use of technology in combating financial crime and cyber crime
- Overview of the digitalisation of risk management
- Big data analytics: mapping indicators of fraud, money laundering, bribery and corruption, sanction breaches, and market manipulation
- The holistic approach to risk management: effectiveness – efficiency – scalability – oversight
- Enterprise Risk Management (ERM): customising and consolidating automated manual processes
- Overview of transaction monitoring and threshold values for internal auditors
- Trade surveillance software and correlation analysis: from repetitive behaviours to manipulating behaviours
- Testing financial crime compliance systems: Data chosen, cleansing, articulation, and understanding before “feeding” into the compliance system
- Assessing fitness and operational efficiency of organisational systems and controls to prevent and combat cyber-crime risks: Phishing, Webcam manager, File hijacking, Keylogging, Screenshot manager, Ad clicker, Hacking, and distributed denial of services (DDOS)
Effective Linkage of Organisational Systems
- Overview of core organisational systems – Finance, HR, Governance, CSR
- Closing the loopholes to assist in legal prosecution case efficiency
- Ensuring good staff policy compliance
- Establishing and managing – staff register of interests and conflicts of interest
Engaging with External Auditors
- The key role and objectives of external audit
- Ensuring availability of evidence through defensible in court procedures for situations faced
- Detecting severe but plausible scenarios
- Overcoming organisational cultural challenges
- Capturing and maximising earning and growth opportunities from the external audit