Training and Events Calendar

[Cancelled] Three Day Seminar (Aug): Tools for Audit Managers

Update as of 21 Jul: The course run is cancelled. You may write in to us at iia-academy@iia.org.sg if you would like to be informed of the next run.

This training course is previously named as Tools & Techniques II: Audit Managers.

CPE Hours: 24

INTRODUCTION

A successful, organized team requires a confident, competent manager. This course provides new audit managers with the tools and the skills necessary to manage audit teams successfully — and does so strictly from an audit manager’s perspective. This course provides essential insight into the roles and responsibilities of audit management, and lists the key concepts needed to successfully lead and mentor staff. 

This instructor-led course includes interactive group activities and breakout sessions of real-life scenarios that teach the concepts, tools, and techniques needed to supervise and develop an audit team, manage change, and effectively manage relationships within the audit team, and with the CAE, executive management, and audit committee. Audit managers that complete this course will walk away with proven internal audit practices that can be immediately applied to an organization of any size and within any industry.

WHO SHOULD ATTEND

This course is designed for internal auditors with 6–10 years of experience who want to learn the concepts, tools, and techniques to enhance their effectiveness as audit managers.

COURSE OBJECTIVES

• Identify the mission of internal audit and the audit model as they relate to the audit manager role.
• Identify the internal control environment and risk in the control environment.
• Compare the roles and responsibilities of the board of directors and the audit committee, and executive management and management-level committees.
• Identify the audit engagement responsibilities of an audit manager.
• Identify audit manager responsibilities for audit planning, including defining the audit plan, setting the audit budget, resources, and schedule, project management tools, and reviewing the risk assessment, risk matrix, and internal controls.
• Identify audit manager responsibilities for audit fieldwork, including effective monitoring and feedback, root cause analysis, and conclusions at the level of the business unit or organization.
• Identify audit manager responsibilities as they relate to audit reports and audit wrap up.
• Identify the QAIP Framework and the formal quality assurance standards that the internal audit function is required to follow.
• Identify key concepts necessary to supervising and developing staff.
• Identify leadership skills necessary for audit managers.
• Identify strategies necessary for managing change effectively.
• Identify strategies necessary for managing relationships and marketing the internal audit function from an audit manager perspective.
• Identify innovative problem-solving techniques.

COURSE OUTLINE

Overview of the Audit Model

• Mission of internal audit.
• The International Professional Practices Framework (IPPF).
• The audit model.

Overview of the Internal Control Environment

• Control terms.
• Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Framework.
• U. S. Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) overview.
• Risk in the control environment.
• Enterprise risk management (ERM).

Audit Governance, Roles & Responsibilities

• Governance.
• Audit governance roles and responsibilities.
• Qualifications of audit team members (by level).
• Mission statement, vision statement, and audit charter.
• Audit manager responsibilities during the engagement.
• Independence and reporting relationships.

The Audit Cycle – Audit Planning

• Defining the audit plan.
• Applicable Standards.
• Setting the audit budget, resources, and schedule.
• Project management tools.
• Reviewing the risk assessment, risk matrix, and internal controls.

The Audit Cycle – Audit Fieldwork

• Workpapers and workpaper attributes.
• Applicable Standards.
• Standardized workpapers.
• Audit review steps.
• Effective monitoring and feedback.
• Root cause analysis.
• Strategy for presenting audit finding.

The Audit Cycle – Audit Report & Wrap Up

• Preparing and reviewing the audit report.
• The exit conference.
• Reviewing and closing out the audit project.
• Feedback from audit customers.
• Common audit survey questions.

Quality Assurance & Improvement Program (QAIP)

• What is a QAIP?
• Applicable Standards.
• The QAIP Framework.
• Five characteristics of a successful QAIP.
• Reporting the results of a QAIP.
• Balanced scorecards.

Supervising and Developing Staff

• The hierarchy of needs.
• Motivation and the outcome of human interaction.
• Manipulators vs. motivators.
• Managing conflict.
• Changing behavior.
• Effective monitoring and feedback.
• Performance reviews.
• Mentoring to provide guidance.

Leadership Skills

• Becoming a leader and a manager.
• Leadership skills for managers.
• Managing vs. leading.
• Characteristics of an effective leader.
• Challenges of a leadership role.
• What type of leader are you?
• Leadership identification tools.

Managing Change

• The Change Model.
• The effects of change.
• The TACTFUL Approach.
• Dealing with change.
• Communicating change to the client.
• Communicating results and criteria.
• Communicating change – Additional concepts.

Managing Relationships and Marketing Internal Auditing

• Internal auditing’s role in an organization.
• Typical internal audit functions.
• Internal audit and external auditors.
• Internal auditing and outsourcing, co-sourcing, and partnering.
• Promoting the internal audit function.
• Communicating with the audit committee.

Innovative Problem Solving

• Defining innovative problem solving.
• Innovative thinking.
• The innovation process.
• Steps in the innovation process.
• Creative problem solving.

TRAINERS

Yvonne Aw is an independent non-executive director of an insurance company where she chairs the Audit and Risk Committee, the Nomination and Remuneration Committee and the Related Party Transactions Committee. She is also a member of the Audit and Risk Committee of a power generating company. Yvonne has a combination of professional experience; initially working in an international accounting firm, followed by over 30 years of auditing, risk and compliance experience in the banking and insurance industry. She was the Regional Chief Audit Executive of Allianz Asia Pacific which had a team of approximately 80 internal auditors across 9 countries. In her earlier banking career, her roles included being the Regional Chief Audit Executive at Julius Baer, the Head of AML/CFT compliance for the DBS Group and Vice President & Regional Auditor, Asia Pacific at Chase Manhattan Bank.

Yvonne is a fellow member of the Institute of Singapore Chartered Accountants and a member of the Institute of Internal Auditors.
 
Richard Tan is an independent non-executive director with several SGX listed companies, foreign financial institutions, and Singapore government entities.  In most of these organisations, he chairs the audit and risk committee.  Richard is also an Adjunct Associate Professor with the NUS Business School where he co-teaches in 2 modules, namely: corporate governance and risk management, and financial institution audit and compliance.  Richard retired as a Risk Consulting Partner of KPMG Singapore in 2015 where he had provided internal audit and enterprise risk management services.  Prior to KPMG, he worked more than 20 years in major international banks where he was either the regional chief audit executive, deputy group head of audit, or head of group technology and operational risk management.

REGISTRATION

Please email the completed registration details as per the excel form to IIA Academy at iia-academy@iia.org.sg. We will notify you once your registration for the seminar has been successfully processed.

Ref: TRAIN-P0000001-557