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Seminars

Using Risk Assessment to Build Individual Audit Programs

Introduction:

In this course you will learn how to use risk assessment, generally applied to annual audit plans, to help build individual audit programs that will boost auditor productivity and provide the control assurance required. You will explore the differences between traditional, control-based risk assessment and a new, business risk-based approach that addresses managements concerns at the individual audit level. This progressive risk-based approach will demonstrate how assurance and consultative auditing can be performed simultaneously to maximize your audit resources and generate high-impact outcomes.

You will learn how to recognize primary risks critical to any organization and to evaluate if there are appropriate controls in financial, information systems, compliance, and operational audits. You will then investigate the innovative methodology in a practical, case-based work session that will lead you step-by-step through the development of an individual audit program that can be executed in your own organization.

Course Objectives:

By the end of this course delegates will be able to:

Discover how to use risk assessment to help create individual audit programs that boost productivity
Investigate primary controls in financial, IT, compliance, and operational audits
Explore the differences between traditional control based risk assessment and a business risk-based approach
Develop audit programs you can use when you return to your organization
How to develop a business focused, objective-based audit plan
Incorporate the organization’s key data into the plan

Who Should Attend?

Internal Auditors, Financial & Operational Auditors, Finance Personnel, External Auditors, Audit Managers and Supervisors, IT Auditors, Senior and In-Charge Auditors, Team Leaders and Directors

Course Outline:

Traditional Approaches to Risk Assessment

· Traditional audit view of risk

· Risk assessment defined

· Common audit risk assessment practices

· The role of internal controls in assessing risk

· Reversing the standard equation

Information Sources Required to Truly Determine Risk

· Traditional sources of audit information

· The critical business unit

· Alternative sources of relevant information

Maximizing Your Audits with Sound Data and Informed Judgment

· Common auditing pitfalls

· Taking a data inventory

· Using data to maximize audit returns

· Trend analysis: focusing the audit

· Mean dispersion analysis: comparing alternatives

· An objective approach to risk analysis

· Critical aspects of audit preparation

A Business-Risk Approach to Value-Added Audit Programs

· The traditional internal audit role vs. IAs role today

· Where does the real risk reside?

· A business approach to risk assessment

Focusing the Audit on Risk: A Multi-Level Approach

· The barnyard approach to auditing

· Knowing the business: the internal audit difference

· The treeing-down concept

· Auditing where risk equals exposure

· Structuring your audit programs to minimize audit risk

· Critical risk methodology

Risk Assessment in the Four Major Types of Audits

· Financial audits

· Operational audits

· Information systems audits

· Regulatory audits

· Achieving totally integrated audits

Maximizing Your Value: Talking Business Not Audit

· Dispelling false perceptions

· Internal audits identity crisis

· Speaking the language of management and the board

· Clearly establishing internal audits value

· Avoiding the big 0

COURSE LOCATIONS

Code	From	To	City	Fee
AP10	10 Feb 2020	21 Feb 2020	Munich	US$ 9500	Book
AP10	12 Apr 2020	23 Apr 2020	Doha	US$ 7000	Book
AP10	21 Jun 2020	02 Jul 2020	Cairo	US$ 6500	Book
AP10	10 Aug 2020	21 Aug 2020	New York	US$ 9000	Book
AP10	04 Oct 2020	15 Oct 2020	Dubai	US$ 7000	Book
AP10	28 Dec 2020	08 Jan 2021	Kuala Lumpur	US$ 7500	Book

DUBAI OFFICE

Ittihad Deira Building,
Al Ittihad Rd, Deira
Dubai,
UAE
info@petrogas-training.com

USA OFFICE

642 E14 Street,
10009-13 Manhattan,
New York (NY)
USA
info@petrogas-training.com

EGYPT OFFICE

52 General Kamal Hejab Street,
Suez Bridge,
Cairo,
Egypt
info@petrogas-training.com

COURSE CERTIFICATE

Certificate of Completion will be provided to the candidate(s) who successfully attend and complete the course. Training hours attendance percentage of 75% is required.

TRAINING HOURS

Standard course hours: 8:30 A.M. to 3:30 P.M. Informal discussions: 4:30 P.M. to 5:30 P.M.

TRAINING METHODOLOGY

We use a blend of interactive and hands-on methods, active participation, a variety of instructional techniques, dynamic presentations, individual and group exercises, in depth discussion, DVD’s, role-plays, case studies, examples. All of the information, competencies, knowledge and skills acquired within our training programs, are 100% transferrable to the participants’ workplace.

ASSESSMENT & EVALUATION

Pre-Test and Post-Test Assessment are applied on 5-day and 10-day programs. Also, post course evaluation and candidate’s evaluation are applied to add another level of quality measurement. Candidates’ feedback is highly appreciated to elevate the training service quality.

ORGANIZATIONAL IMPACT

A- Have staff trained in the latest training and development approaches

B- Support nationalization and talent management initiatives

C- Have properly trained and informed people who will be able to add value

D- Gain relevant technical knowledge, skills and competencies

PERSONAL IMPACT

A- Develop job related skills

B- Develop personal skills in subject matter

C- Have a record of your growth and learning results

D- Bring proof of your progress back to your organization

F- Become competent, effective and productive

G- Be more able to make sound decisions

H- Be more effective in day to day work by mastering job-related processes

I- Create and develop competency to perform job well

FREQUENT NOMINATIONS SCHEME

A- 10% discount after 05 candidates’ registration.

B- 15% discount after 10 candidates’ registration.

C- 20% discount after 20 candidates’ registration.

D- 25% discount after 25 candidates’ registration.

E- 30% discount after 30 candidates’ registration

F- Higher discount rates will be offered based on work volume with different clients.

SEVERAL NOMINATIONS ON THE SAME COURSE SCHEME

A- One extra free seat is offered on 4 candidates on the same course and dates.

B- Two extra free seats are offered on 6 candidates on the same course and dates.

C- Three extra free seats are offered on 8 candidates on the same course and dates.

D- Four extra free seats are offered on 10 candidates on the same course and dates.

E- Five extra free seats are offered on 12 candidates on the same course and dates.

REGISTRATION POLICY

Nominations to our public courses are to be processed by the client’s Training and/or HR departments. A refund will be issued back to the client in the event of course cancellation or seat unavailability. A confirmation will be issued to the relevant department official(s).

CANCELLATION POLICY

If a confirmed registration is cancelled less than 5 working days prior to the course start date, a substitute participant may be nominated to attend the same course or a 20% cancellation charge is applied. In case of a no-show, a 100% fee will be charged.

PAYMENT POLICY

Payment is due upon receiving the course confirmation, invoice and/or proforma invoice. However; the fee due can be wire transferred to our bank account directly after course completion. Our bank details are illustrated on the confirmation, invoice and proforma invoice, as well. The above documents can be communicated electronically, i.e., in a soft copy or/and in hard copy based on customer’s request.

COPYRIGHT

© 2017. Material published by PETROGAS shown here is copyrighted. © 2017. All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing in any medium, transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.