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Advanced Strategic Internal Auditing (Levels 2 and 3)

Course Information:

Online £2,500.00 20 hrsFlexible
In-House Agreed with client FlexiblePOA
London 10 days 14-Mar£5,900.00
London 10 days 13-Jun£5,900.00
London 10 days 5-Dec£5900.00


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    LCT 2022 Brochure
    LCT 2022 Brochure

    Who should attend?

      Managers and executives from all sectors, particularly those using or planning to use IFRS and want to know acquire the tools needed to understand and apply the standards:

      • Those who are new appointed into a senior financial role and want to find their way around the key standards
      • Those who work in the private sector who are looking for best practice application of IFRS
      • Those who work in parts of the public sector who are or will be using IFRS
      • Financial planning practitioners who want to update their skills and knowledge
      • Those who are for the first-time adoption of the standards
      • Financial analysts, auditors, accountants
      • Audit team members who need to update their knowledge



      • Describe the role, benefits and purpose of IFRS
      • Engage with all key stakeholders
      • Ensure compliance with financial reporting obligations
      • Identify the key steps in implementing the standards


    Review of Key Audit Function Foundations

      • Review of key action points
      • Developing organizational specific risk matrices
      • Global best practice – case studies & analysis
      • Key action points – Delegate action plan development

    Risk Based Auditing

      • Identifying areas of risk
      • Classifying and quantifying risk areas
      • Developing audit and re-audit frequency in line with risk
      • Overview of emerging 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

    Financial crime compliance

      • Effective post audit de-briefing
      • Root cause analysis and remediation recommendations
      • Developing departmental action plans with stakeholders: contributing to the delivery of compliance 2.0
      • Managing conflict situations

    Use of technology in combating financial crime and cyber crime

      • Overview of the digitalisation of risk management
      • Big data analytics: mapping indicators of fraud, money laundering, bribery and corruption, sanction breaches, and market manipulation
      • The holistic approach to risk management: effectiveness – efficiency – scalability – oversight
      • Enterprise Risk Management (ERM): customising and consolidating automated manual processes
      • Overview of transaction monitoring and threshold values for internal auditors
      • Trade surveillance software and correlation analysis: from repetitive behaviours to manipulating behaviours
      • Testing financial crime compliance systems: Data chosen, cleansing, articulation, and understanding before “feeding” into the compliance system
      • Assessing fitness and operational efficiency of organisational systems and controls to prevent and combat cyber-crime risks: Phishing, Webcam manager, File hijacking, Keylogging, Screenshot manager, Ad clicker, Hacking, and distributed denial of services (DDOS)

    Effective Linkage of Organisational Systems

      • Overview of core organisational systems – Finance, HR, Governance, CSR
      • Closing the loopholes to assist in legal prosecution case efficiency
      • Ensuring good staff policy compliance
      • Establishing and managing – staff register of interests and conflicts of interest

    Engaging with External Auditors

      • The key role and objectives of external audit
      • Ensuring availability of evidence through defensible in court procedures for situations faced
      • Detecting severe but plausible scenarios
      • Overcoming organisational cultural challenges
      • Capturing and maximising earning and growth opportunities from the external audit

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