Smooth Sailing: How To Run A Successful Risk-Based Audit

Overview

Smooth sailing: Easy progress without impediment or difficulty (From Merriam-Webster’s online dictionary). While internal auditing is not usually associated with clear skies and calm waters, we do have many techniques we can apply so our audits run smoothly. This highly interactive, one-day class includes a range of topics that prepare new auditors (or those auditors new to risk-based auditing) to address the challenges faced during an audit. It is part audit methodology, part project management and part communication skills – all combined to help auditors operate smoothly and efficiently to gain agreement from audit clients, streamline the reporting process and improve audit outcomes. It includes discussion of added challenges in a fully online environment.

Target Audience 

New internal auditors, new audit managers and supervisors, or internal auditors who are just starting to use a risk-based approach.

Course Objectives

Understand key techniques for a successful audit using a risk-based approach. Identify what information should be communicated at each phase of the audit and WHY. Learn how to avoid surprises and disagreements at the audit reporting phase. The class includes practical examples and full group discussions.

Course Content

- Obtaining audit client buy-in during the planning phase: establishing objectives, risks, controls and the audit program (using a risk/control matrix). 

- Getting audit client input throughout the fieldwork phase: sharing the facts of the findings. 

- Gaining agreement with the audit client on management action plans. 

- Identifying your key audience and critical information for the draft report. 

- Adjusting your method of communication to accommodate others’ needs or preferences. 

- Sharing information when you cannot meet in-person.