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Audit and Assurance

The Internal Audit Environment

·         The Definition of Internal Auditing

·         The Components of an Effective Internal Audit Function

·         The Effective Organizational Placement of a Successful Internal Audit Function

·         The Standards for the Professional Practice of Internal Auditing

·         The Various Types of Internal Audits

The Principles of Effective Internal Auditing

·         The Principles of Effective Audits

·         Alpha and Beta Audit Risk

·         Compliance, Substantive, and Operational Tests

·         Analytical Review, Confirmations, Reperformance, Observation and Inquiry, Inspection, and Other Types of Audit Evidence

Developing Achievable Audit Objectives

·         Relating the Concept of Internal Audit Strategies to the Audit Planning Process

·         Developing a Long-Term Audit Plan for the Internal Audit Department Using Internal Control-Based Risk Assessment

·         Designing the Audit Plan and Preparing an Audit Planning Memorandum for an Individual Internal Audit Project Assignment

Principles of Internal Control

·         The Relationship between Internal Controls and the Audit Process

·         The Requirements to Ensure Compliance with Statement on Internal Auditing Standard No. 1 Control: Concepts and Responsibilities

Audit Evidence and Audit Work papers

·         Discuss the Basic Concepts of Audit Evidence

·         Performing Analytical Reviews

·         Testing and Gathering Review Evidence

·         Selection of Appropriate Testing Method

·         Overview of Statistical Sampling Techniques .