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session i: managing the internal audit function

chapter a: strategic role of internal audit• Initiate,Manage,BeaChangeCatalyst,andCopewithChange• NetworkingwithOtherOrganizationExecutivesandtheAudit

Committee• OrganizeandLeadaTeaminMapping,Analysis,andBusiness

Process Improvement/ Operational Auditing• AssessandFostertheEthicalClimateoftheBoardand

Management• EducateSeniorManagementandtheBoardonBestPracticesin

Governance, Risk Management, Control, and Compliance• CommunicateInternalAuditKeyPerformanceIndicatorstoSenior

Management and the Board on a Regular Basis• CoordinateInternalAuditingEffortswithExternalAuditor,

Regulatory Oversight Bodies, and Other Internal Assurance Functions

• AssessAdequacyofthePerformanceMeasurementSystemandAchievementofOrganizationalObjectives

chapter b: operational role of internal audit• FormulatePoliciesandProceduresforthePlanning,Organizing,

Directing, and Monitoring of Internal Audit Operations• TheRoleofInternalAuditFunctionwithintheRiskManagement

Framework• ReportontheEffectivenessofOrganizationalRiskManagement

Processes to Senior Management and the Board• ReportontheEffectivenessoftheInternalControlandRisk

Management Frameworks• EffectiveQualityAssuranceandImprovementProgram

chapter c: establish a risk-based internal audit plan• EstablishaFrameworkforAssessingRisk• UseMarket,Product,andIndustryKnowledgetoIdentifyNew

Internal Audit Engagement Opportunities

• UseaRiskFrameworktoIdentifySourcesofPotentialEngagements

• RankandValidateRiskPrioritiestoPrioritizeEngagementsintheAudit Plan

• InternalAuditResourceRequirementsandtheAnnualInternalAudit Plan

• CommunicateAreasofSignificantRiskandObtainApprovalfromthe Board for the Annual Engagement Plan

• DifferentiatebetweenAssuranceandConsultingEngagements• AssuranceEngagements• ConsultingEngagements

session ii: managing individual engagements

chapter a: plan engagements• EstablishEngagementObjectives/CriteriaandFinalizetheScope

of the Engagement• PlanEngagementtoAssureIdentificationofKeyRisksand

Controls• CompleteaDetailedRiskAssessmentofEachAuditArea• DetermineEngagementProceduresandPrepareEngagement

Work Program• DeterminetheLevelofStaffandResourcesNeededforthe

Engagement• ConstructanAuditStaffScheduleforEffectiveUseofTime

chapter b: supervise engagements• Direct/SuperviseIndividualEngagements• NurtureInstrumentalRelations,BuildBonds,andWorkwith

Others toward Shared Goals• CoordinateWorkAssignmentsamongAuditTeamMemberswhen

ServingastheAuditor-in-ChargeofaProject• ReviewofWorkPapers• ConductExitConferences• PerformanceAppraisalsofEngagementStaff

cia part 2 masterclass (video broadcast)duration: 1 daY cpd hours: 8

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chapter c: engagement communications as a process• PreliminaryCommunicationwithEngagementClients• DevelopofRecommendationsandthepreparationofaReport• ApprovinganddistributingtheReport• ManagementResponsetotheReport• ReportingofOutcomestoAppropriateParties

chapter d: monitor engagement outcomes• AppropriateMethodstoMonitorEngagementOutcomes• MonitorEngagementOutcomesandDetermineAppropriate

Follow-Up by the Internal Audit Activity• Follow-UpandReportonManagement’sResponsetoInternal

Audit Recommendations• EscalationofIssuesifAuditor-in-ChargeBelievesManagementIs

Accepting Too Much Risk• ReportSignificantAuditIssuesPeriodicallytoSenior

Management and the Board

session iii: fraud risks and controls

chapter a: common types of fraud and fraud risks per engagement area• Frauddefinitions• CommonTypesofFraudAssociatedwiththeEngagementArea• PotentialforFraudRisksintheEngagementAreaDuringthe

Engagement Planning Processchapter b: assessing response to engagement area fraud risks• DetermineifAnySuspectedFraudMeritsInvestigation• FraudInvestigations

chapter c: process review for fraud controls improvement• ProcessReviewtoImproveControlstoPreventFraudand

Recommend Changes

chapter d: detecting fraud• AuditTeststoDetectFraud• ComputerDataAnalysistoDetectFraud

chapter e: culture of fraud awareness• CultureofFraudAwarenessandtheReportingofImproprieties• FraudInterrogation/InvestigativeTechniques• ForensicAuditingTechniques

who should attend

All CIA candidates

level 1

Entry or introductory level for those requiring a fundamental understandingofthesubject.

level 2

Internal auditors who are already practicing internal audit and have abasicunderstandingofthesubject

level 3

Supervisory/competent/senior internal auditors: those who already have a sound, practical grasp of the fundamentals of internal audit-ingandmanagestaff

level 4

For advanced internal auditors: Auditors with excellent understand-ing of topics being presented, who are interested in exchanging knowledge with instructors and other participants

cia part 2 masterclass (video broadcast)