Finance & Accounts

FA 9 Internal Auditing – Level 1

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.
Course Code:F/A.9
Subject:Finance
Course Fee:£495
Duration:3 Days
Venue:University of Cambridge, U.K

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