PROGRAM DETAILS

Introduction

 Organisations around the world in nearly all industries have experienced some degree of stress or turmoil caused by the global economic recession. In this environment, Internal Auditors are playing a vital and growing role in monitoring and helping to improve organisation-wide systems, processes and controls. The Internal Auditor’s role is likely to continue to grow in the next few years as organisations address not only financial pressures, but also regulatory pressures that governments impose in response to the financial crisis. In particular, the Internal Audit Function now plays a pivotal role to support the audit committee, risk committee and the risk unit of organisations.

With the increase of corporate fraud, the Internal Audit and Risk Unit have to fully understand the importance of managing forensic and fraud audits and related services. Fraud is the biggest threat to good corporate governance for both public and private enterprises and profit and non-profit organisations.

Delegates will be given the skills, knowledge and tools to apply practical methodologies for the Internal Audit Function that will raise the bar, motivate the Internal Auditor and enhance the effectiveness of the role of Internal Auditing.

Learning Objectives

By attending this highly interactive and participative programme, delegates will gain:

• Practical and valuable guidance on leading-edge technologies in Internal Auditing
• Lessons from the global financial crisis for the Internal Auditor
• The knowledge on how to identify and prioritise risks and related internal controls
• The knowledge on fraud detection and procurement fraud
• The knowledge on how to identify, evaluate and report on fraudulent activities
• An understanding on how to develop an Internal Audit Plan by leveraging strategy-based Internal Auditing
• New insights into the dynamic combined assurance model that integrates all assurance activities
• An enhanced understanding of forensic auditing and forensic accounting
• The knowledge on forensic analytic methods
• The confidence to interact with internal departments and external assurance service providers

Target Audience

 This seminar is designed for:

• Internal Audit Professional
• Audit Committee Members
• Risk Management Officers
• Financial Professionals
• Compliance Officers
• Fraud and Inspection Team Members
• External Auditors
• Strategic Planners

The programme is designed to empower the above professionals, leaders and personnel to have a better understanding of the strategic and critical role of Internal Auditing,

Training Methodology

This practical and results-oriented programme is based on the Adult Learning Concept. It incorporates short inspiring lectures and presentations, followed with structured practical case studies. Supplementing the presentation notes are PowerPoint slides to enhance learning with on-going discussions and action planning, and ample time for Q & A sessions. The total programme is motivational and inspirational within a friendly learning environment.

Program Content

 Day 1 – Internal Audit and Corporate Governance

• Lessons from the Financial Crisis
• Corporate Governance Challenges
• New Challenges facing the Assurance Function
• Business Model and the Assurance Function
• Internal Audit Role and the Business Model

Day 2 – Risk-based Internal Audit

• Global Risks of 2015
• Risk Management Framework
• Business Risk
• Risk-based Internal Audit
• Tools and Techniques of Internal Audit

Day 3 – Internal Audit and Fraud Detection

• Fraud Suspect Areas
• Ethics and Fraud
• Fraud Red Flags
• Fraud Due Diligence Audit
• Forensic Auditing
• Fraud Prevention Strategy

Day 4 – Combined Assurance and Internal Audit

• Traditional Assurance Model
• Benefits of Combined Assurance
• Role of Internal Auditor and Combined Assurance
• Combined Assurance Plan and Process
• Combined Assurance Implementation

Day 5 – Internal Audit and Assurance Service Providers

• Internal Audit and the Audit Committee
• Internal Audit and the Risk Function
• Internal Audit and Management
• Internal Audit and External Auditors
• The Future of Internal Auditing