Internal Auditing - Level 2

Course content includes:

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 – Participants 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 role of the auditor as consultant
• Utilising audit reporting to inform organisational policy development
• Continuous improvement initiatives
• Measuring improvement – toolkit to objectively measure and demonstrate 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 – combining written skills and personal presentation skills
• Contribution to the development of the long term audit strategy
• Raising the profile of internal audit within the organisation