Description:
Update as of 2 May: The course is cancelled due to insufficient sign-ups. You may register for the next run on 28 - 30 Oct 2025.
This training course is previously named as Tools & Techniques II: Lead Auditors.
CPE Hours: 24
INTRODUCTION
Leading an internal audit project requires knowing and fully understanding the engagement process and possessing the ability to guide an internal audit function in performing the fundamental responsibilities of internal auditing. This course provides an overview of the life cycle of leading an audit engagement, including planning, examining the internal control environment and audit governance, obtaining and presenting audit evidence, wrapping-up the audit engagement, and measuring internal audit productivity.
This course includes interactive group activities and breakout sessions of real-life scenarios that teach the concepts, tools, and techniques needed for leading an internal audit function. Lead auditors that complete this course will walk away with proven internal audit practices that can be immediately applied to an organisation of any size, and within any industry.
WHO SHOULD ATTEND
This course is designed for the lead internal auditors — with 3 - 6 years of experience, who have a desire to boost their internal audit skills to successfully lead an audit function with confidence and become effective and trusted advisors within their organisations.
COURSE OBJECTIVES
- Define the core elements of the Global Internal Audit Standards as they relate to the lead auditor role.
- Describe the components of the audit model.
- Identify the components of the COSO Internal Control Framework as they relate to the lead auditor role.
- Compare the roles and responsibilities of audit management, the lead auditor, and the activity under review, including management.
- Identify key concepts necessary to becoming an effective leader.
- Identify key concepts necessary to leading and mentoring staff.
- Identify the components of the engagement planning and opening conference.
- Identify best practices for conducting an audit risk assessment, walkthrough, and audit program development.
- Identify the review requirements for engagement fieldwork and testing.
- Identify best practices for reviewing audit findings and recommendations.
- Identify the components of effective audit reporting and the exit conference.
- Demonstrate the steps necessary to wrap up the audit after the report is issued.
- Recognise the formal quality assurance standards that the internal audit function is required to follow.
COURSE TOPICS
The Global Internal Audit Standards and the Audit Model
- The Global Internal Audit Standards
- The Audit Model
Overview of the Internal Control Environment
- Control terms
- Committee of Sponsoring Organizations of the Treadway Commission (COSO) Framework
- U.S. Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) overview
- Risk in the control environment
- Enterprise risk management
Audit Governance, Roles & Responsibilities
- Governance
- Audit governance roles and responsibilities
- Qualifications of audit team members (by level)
- Mission statement, vision statement, and audit charter
- Independence and reporting relationships
- Case study overview
Staff Development and Leadership
- Effective monitoring and feedback
- Soliciting feedback from stakeholders
- Mentoring
- Customers of the lead auditor
- Leadership development
- Characteristics of an effective leader
- Promoting the internal audit function
- Qualities of a successful lead auditor – Personal skills and abilities
Audit Planning
- Applicable Standards
- Audit model – Planning phase
- Planning considerations
- Preliminary client survey
- Audit planning memo
- Business case example
- Documenting and reviewing the risk and control matrix
- Creating and updating process flow documentation
- Walkthroughs
- Audit opening conference
- Qualities of a successful lead auditor – Planning and controlling audits
Test Plan and Work Program Development
- Applicable Standards
- Creating the test plan
- Developing a work program
- Allocating resources
Reviewing Audit Evidence and Workpapers
- Applicable Standards
- Audit evidence
- Reviewing audit evidence
- Sampling methodology
- Data analytics
- Reviewing workpapers
Audit Findings and Observations
- Applicable Standards
- Communicating audit findings and recommendations
- Reviewing audit findings
- Potential client reactions to audit findings
- Selling audit findings
- Developing recommendations
Audit Reporting and the Exit Conference
- Applicable Standards
- Audit reporting and the exit conference
- Audit report key elements
Audit Wrap-Up and Report Issuance
- Audit wrap-up and report issuance
- Audit wrap-up responsibilities
Audit Follow-Up
- Applicable Standards
- Audit follow-up
- Issue follow-up, validation, and risk acceptances – Tips for success
- Monitoring, follow-up, validation, and resolution process
Quality Assurance and Improvement Program (QAIP)
- What is a QAIP?
- Applicable Standards
- QAIP Framework
- Five characteristics of a successful QAIP
- Reporting the results of quality assurance
TRAINERS
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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 update you upon successful registration of the mentioned seminar. GROUP DISCOUNTRegister as a group of 4 or more participants for the same course and enjoy a 10% group discount!This promotion is applicable for registrations received from the same company and registered within the same day. The discount is applicable in one single invoice. PAYMENTFor more details about payment modes, please click HERE.
IMPORTANT NOTE
- Please email the completed registration details as per the excel form to IIA Academy at iia-academy@iia.org.sg. We will update you upon successful registration of the mentioned seminar.
- Once the course is confirmed, an email confirmation will be sent to the registrants’ contact email addresses 1 week prior to the course commencement date.
If you do not receive any email notification regarding your course registrations, please call IIA Academy at 6324 9029 ext 2004 or 2005.
TERMS AND CONDITIONS
- Registration is on a first-come, first-served basis.
- Contact person will be notified via email upon successful registration of the participants. The seminar details would be sent to the registered participants one week prior to the seminar.
- Registration fee must be received prior to the date of the seminar.
- Registered participants will be liable for the full registration fee in the event of non-attendance on the date of the seminar.
- Cancellation must be submitted in writing to the Academy team at iia-academy@iia.org.sg at least 7 working days prior to the seminar and subject to IIA Singapore's approval. A processing fee of $100 per participant will be imposed for any cancellation. Substitutions will be permitted and conditions will apply. You may substitute a “like” person to attend the seminar in your place – for example, if you are an IIA Singapore member, you may substitute with another IIA Singapore member.
- IIA Singapore reserves the right to revise the seminar programme as necessary.
- IIA Singapore reserves the right to cancel or postpone the seminar should the minimum class size is not fulfilled. IIA Singapore will refund the full registration fee which has been paid.
- IIA Singapore reserves the right to take videos and photographs during the seminar for use in IIA Singapore’s marketing collaterals and other publicity purposes.
- Complimentary parking, if any, will be provided on a first-come-first-served basis.
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