Internal Auditing – Level 1

Delegates who have some experience of auditing, either directly as an auditor or from within the financial services sector seeking to develop a professional and best practice approach to the development of the internal audit function in private and public sector organisations and enterprises.

• Expand the role of the audit function in their organisation
• Contribute effectively to organisational audit strategy and implementation
• Engage continuous improvement and quality assessment within the organisation’s audit function
• Present information effectively at the auditing committee and senior management
• Embed new technology and financial crime controls into the audit function

The Role and Function of Internal Audit

• Review of key action points
• Develop organisational specific risk matrices
• Global best practice – case studies – lessons learned analysis
• Key action points – delegate and manage action plan development

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