Internal Audit and Control Techniques

Course Properties

Course date: 19-11-2017
Course End Date: 23-11-2017
Location Cairo

Course Objective:

         By the end of the course, participants will be able to:
          • Learn proven internal auditing and professional standards set for internal auditors that leave no room for error.
          • Go beyond the boundaries of accounting and gain real insight into the managerial, political and technical dynamics

              of internal auditing.
          • Identify those “high-risk” processes—and build control systems that mitigate the risk
          • Develop defined, practical audit objectives and proven methods for achieving them 
          • Develop control-based audit recommendations that truly help management meet tactical, strategic,
and corporate objectives

          • Ensure that records are in full accord with GAAP, IRS guidelines, regulatory mandates, and organization policies.

Who Should Attend:

    Financial, operational and MIS auditors, controllers and financial managers, new staff accountants and those responsible for safeguarding organization’s assets.


Course Contents:

            • Basic Concepts
                         The Concept of Internal Auditing
                         The Internal Audit Environment
                         Types of Internal Audits
                         Control Process

           • The Principles of Effective Internal Auditing 
                         The Principles of Effective Audits 
                         Alpha and Beta Audit Risk 
                         Compliance, Substantive, and Operational Tests
                         Calculation of Audit Risk
                         Analytical Review, Confirmations, Re-performance, Observation and Inquiry, Inspection, and Other Types

                           of Audit Evidence
                         Relationship between the Internal Control Environment and Audit Testing

           • The Necessity of The Internal Audit
                         Internal Auditing and Stakeholders
                         Objectives of Internal Auditing
                         The Role of Internal Auditing in Corporate Governance
                         The Role of Internal Auditing in Corporate Culture

          • 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

          • The Internal Control Framework
                        Control Environment
                        Risk Assessment
                        Control Activities
                        Communication and Information
                        Monitoring

        • Techniques of Control and Risk Management
                        Techniques of Control
                        Process of Risk management
                        Risk Identification
                        Risk Analysis
                        Tools used to Deal with Risk

         • Systems of Financial Control
                        Financial Control and Financial Analysis
                        Financial Control based on DuPont ROI System
                        Financial Control according to EVA Approach
                        Financial Control and Profit Efficiency
                        Financial Control and Cost Efficiency

         • Conducting Audit Control and Using Control Techniques
                        Case Studies
                        Workshops
                        Free Discussions
                        Brain Storming