Enhance internal audit's strategic role to improve business performance
This course is recognised by the British Accreditation Council (BAC)
Course Code: FIN.4D
Subject: Finance
Course Fee: £4500 + VAT (20%)
Dates for this course:
11 Mar 2019 to 22 Mar 2019 London 10 Jun 2019 to 21 Jun 2019 London 02 Dec 2019 to 13 Dec 2019 London
Who should attend?
Delegates who have some auditing experience, either directly as auditors or from within the quality assurance sector seeking to develop further their auditing skills and best practice approach to the development of the internal audit function in private and public sector organisations.
Learning Objectives
By the end of the course delegates will be able to:
Ensure their reports integrate risk for decision making processes
Identify and assess financial crime risks within the control environment
Engage effectively with stakeholders and deliver assurance standards on the culture of the organisation
Promote and enhance the function of the organisation’s Chief Risk Officer
Course Content
The Role and Function of Internal Audit
Key goals of the internal audit function
Ensuring auditor objectivity
Avoidance of conflicts of interest within auditing
Auditor skillset
Conducting Effective Audits
Pre-audit planning
Effective audit sampling techniques
Recording findings during auditing
Effective stakeholder engagement
Audit Structures
The audit committee’s role
Developing the audit charter
The external auditor’s role
Developing and improving best practices
Financial Crime Risks
Money laundering, terrorist financing and sanctions risks
AML controls
CTF controls
Sanctions controls – matches
Trade-based money laundering risks
Customer due diligence controls
Enhanced customer due diligence controls
Consideration of money laundering risks in practice evidenced by the organisation
Beneficial Ownership Transparency – individuals and entities
Testing operational efficiency v. financial crime risk prevention in practice
Training and awareness programmes
Audit Report Writing
Ensuring objective comments
Ensuring use of constructive language
Financial crime compliance terms and abbreviations for internal auditors
Improvement recommendations
Continuous improvement techniques
Risk – Based Auditing
Identifying areas of risk
Identifying new areas of risk
Classification and quantification of risk areas
Identifying potential interface of existing and new areas of risk
Developing audit and re – audit frequency in alignment with risk
Overview of emerging and evolving threats
Conducting Effective Audits
The auditor’s role as a consultant
Utilising audit reporting to inform organisational policy development
Continuous improvement initiatives and supervision
Measuring improvement – toolkit for objective measurement and demonstration of audit output improvements
Financial Crime Compliance
Record keeping procedures
Controls to identify potentially suspicious activities
Trade finance transactions
Trade processing controls by processing staff
Red flagging procedures
Pre-determined thresholds systems and controls
Escalations
Actions taken by senior management
Evidence and awareness of senior management evidencing how crime risks evolve in organisational type of business
Engaging with the Audit Structure
Making effective recommendations and business cases
Presenting information effectively
OSCOLA (Oxford University Standard for the Citation of Legal Authorities) for internal auditors
Contributing meaningfully to the development of the long – term audit strategy
Upgrading the profile of internal audit within the organisation
Testimonials
The training consultant was very good. He was highly experienced in his profession and had excellent presentation skills.