How To Prepare An Effective Audit Manual For An Internal Audit Department

Overview:

An audit manual is essential to the adequate documentation and steps to take during an audit to ensure it follows the proper internal audit standards as promulgated by the Institute of Internal Auditors (IIA). In order to prepare an effective audit manual for an internal audit department requires an organized strategy and steps to take to ensure an audit, consulting engagement or an internal confidential investigation is carried out effectively. There are several areas that can be covered in an audit manual, including engagement letter, planning documents, effective audit programs, progress update templates and final reports. This course will touch on all areas of an audit manual and how to present it in the case of an internal audit, a consulting engagement or an internal confidential investigation.

Why you should attend?

Having an effective audit manual will make the difference between having a tool that assists in effective audits, consulting engagements and internal confidential investigations and not having the proper guidance required to ensure your audit department is equipped to be successful. Taking a proactive stance on authoring an audit manual can result in cost savings to organizations for costly training, not to mention invaluable comfort to Management that auditors are performing in accordance with the Institute of Internal Auditors (IIA) standards. This course will provide you with a basic understanding of different elements that should be included in an effective audit manual, different ways to present different types of audits and what the standards dictate, how to plan, perform and report results of an internal, consulting engagement or confidential investigation audit. Examples of templates will be provided for every step included in the audit processes.

Topics covered in the session:

• Identify and collect essential pre-audit background information
• A basic understanding of the most popular types of internal audit projects
• The areas included in an audit manual
• Planning audit objectives, scope and developing an audit work program – Audit Planning
• Audit Fieldwork
• Audit Reporting and Follow-up, Work-paper filing and Project Closure
• The audit manual for a consulting engagement and confidential investigation

Who will benefit:

• Internal Audit personnel involved in developing the audit manual and/or performing audits
• Internal Audit Management interested in developing an audit manual for different types of audits
• Professionals responsible for or interested in developing an audit manual and/or performing audits
• Management interested in having an audit manual for performing different types of audits