Finance & Accounts

FA 11 Internal Auditing – Level 3

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.
Course Code:F/A.11
Subject:Finance
Course Fee:£365
Duration:3 Days

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