Three Day Seminar: Beginning Auditor Tools and Techniques

Course Code: IAD371 CPE Hours: 24
Course Start Date: June 26, 2018 Course End Date: June 28, 2018
Time: 9.00 AM - 5.00 PM Registration Deadline : June 19, 2018
Level of course: Level 1 Trainer: Chng Seh Chong
Competency areas: Internal Audit Delivery [IAD] Course venue: M Hotel Singapore/Oasia Hotel Novena
Course fee (IIA/ ISACA member): $1241.20 (Inclusive of GST) Course fee (non-member): $1465.90 (Inclusive of GST)
Other Memberships valid for discount: 10% off non-member rate for ISCA and ACCA member
Lunch Provided: Yes Tea Break: Yes
Course Overview:

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To become a successful auditor, a strong base of knowledge and an understanding of basic auditing skills are essential. With this program, new auditors, as well as non-auditors with internal control responsibilities, can learn the ins and outs of an audit from beginning to end.
Through team exercises, group discussion, and lectures, attendees will gain a foundation of knowledge that will allow them to properly prepare for and conduct a successful audit, using preliminary surveys and evidence-gathering techniques. A basic understanding of the roles of risks and internal controls in auditing will also be stressed, along with interpersonal and team-building skills.

• Beginning auditors, with up to one year’s experience in internal auditing
• Non-auditors responsible for business-controls, compliance, and quality-audit activities

Course description :

What you will gain from this course:
• Learn how to perform the work of internal auditing enabling you to carry out your assignment on a value-added audit engagement
• Engage in a risk-based audit approach, from planning through process documentation to testing, analysis, and reporting
• Understand internal auditing today
• Become familiar with the scope and application of the Professional Practices Framework
• Learn the concepts and terms that are central to internal auditing
• View your own organization from an internal auditing perspective
• Learn how to communicate and “sell” internal auditing results

Internal Auditing Today
• Discuss some of the best practices within internal audit today
• Identify core services and value-added opportunities provided by internal audit
• Identify the roles of internal auditors
• List internal audit’s customers and stakeholders
• Determine the activities that occur within each stage of the audit model

Risk Assessment and Risk Management
• Mitigate risks to help ensure management directives are carried out
• Use impact and likelihood factors to assess risk
• Define risk management concepts and terms
• Identify controls for mitigating risks to strategic objectives
• Evaluate control issues using the COSO Framework
• Identify strengths, gaps, and concerns of an internal control environment

Audit Planning
• Discuss the audit planning process
• Identify IPPF guidance related to the planning phase of an audit
• Assess the likelihood and impact of high-level inherent risks
• Explain activities involved in planning audit projects
• Discuss planning the audit approach
• Assess roles in annual audit planning and auditproject planning
• Assess preliminary scope area
• Discuss objectives and best practices for opening conferences

• Explain how interviewing is used within an audit
• Describe the uses, objectives, and expected outcomes of interviews at each stage in the audit model
• Discuss best practices for planning and conducting interviews
• Identify best practices and opportunities for improvement in interviewing
• Practice preparing for and conducting an interview
• Prepare an interview based on a given scope-area objective

Process Documentation
• Contrast a basic narrative and a flowchart
• Create a narrative or flowchart
• Discuss the advantages of some best practices for narratives and flowcharts
• Identify inconsistencies in flowcharts and narratives
• Describe three types of walkthroughs

Audit Programs
• Describe the development and use of audit programs
• Classify inherent impacts and likelihoods for various types of risks
• Classify controls as preventive or detective, and as automated or manual
• Identify control points and possible control gaps on flowcharts
• Complete a risk matrix
• Determine which controls are key controls, and whether they should be tested during an audit
• Assess testing objectives
• Discuss tailoring audit programs
• Assess roles in the development of audit programs

Automated Tools
• Identify emerging tools that automate the audit process

• Describe methodologies used to gather audit evidence
• Define terminology related to sampling and testing
• Contrast various types of sampling and testing approaches
• Assess the appropriateness of varying sampling and testing approaches for the achievement of specific testing objectives
• Describe the components of an audit workpaper
• Draft an audit workpaper

• Write an audit report using the five components
• Recognize the components of an audit report
• Determining the readers of audit reports
• Assess the quality of an audit opinion

Selling of the Results
• Discuss methodologies for “selling” audit findings to stakeholders
• Describe factors that help “sell” audit findings and recommendations
• Prepare for selling an audit finding
• Identify best practices and opportunities for improvement in exit conferences
• Describe activities involved in monitoring an audit

• Explain how teamwork is essential to an audit project
• Describe the value of various teamwork related factors
• Examine how your own capabilities contribute to a team audit project

There will be an assessment component towards the end of Day 3 to assess participants’ understanding of the concepts through a sit-down test.
For participants who do not achieve an overall pass will be able to request for a re-assessment within 14 working days from the last day of the course. Re-assessment will only be allowed once.

Mr Chng Seh Chong was employed in Shell for 20 years where he assumed various finance positions including roles in internal audit, SOX and SAP implementation projects. He was chief audit executive responsible for internal audit and risk management at Millennium & Copthorne International and STATS ChipPAC Limited. He reported to the audit committees of these companies which are listed on the London Stock Exchange and SGX respectively.

He was a governor of IIA Singapore in 1996 - 1998 and elected vice president in 1998 - 2000 and then president in 2000 - 2002. He is a fellow member of the Institute of Chartered Accountant (England & Wales). He is also a member of the national working groups for ISO 31000 on risk management and ISO 19600 on compliance management system standards.

Group Discount
Register as a group of 4 or more participants for the same course and enjoy a 10% group discount!
Applicable for participants from the same company registered within the same day. Discount will be indicated and processed on a single invoice.

Terms and Conditions:
1. Registered participants will be liable for the full fee even in the event of non-attendance.
2. A processing fee of $100 will be imposed for any cancellation. Cancellation must be submitted in writing 7 days prior to the event date and subject to IIAS’s approval. Substitutions will be permitted and conditions will apply.
3. Full payment must be received prior to the event. Registration forms submitted without payment will not be accepted.
4. Contact Person will be notified VIA EMAIL of the result of their application for enrollment within three working days after the enrollment deadline.
5. Registration is on a first-come-first-served-basis and Complimentary Parking will be provided only on a first-come-first-served-basis.
6. IIAS reserves the right to revise the programme as necessary.
7. IIAS reserves the right to cancel or postpone the training should the minimum class size is not met.


A system generated email will be sent upon successful registration of the mentioned seminar. If you do not receive the email notification, please call IIA Academy at 6324 9030/31.

Registration Closed.