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CPEs: 32
Level: Intermediate
Tuition: £2,995.00
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NEW Risk-Based Internal Audit for Banks IA085

Location: UK EU MENA GCC Time Zones

First Date: Jun 20 - 23 2022

Duration: 4 days

Programme Director: Dennis Cox

All Dates & Locations
Venue Details

Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risk Reward.

All our 2022 Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

Need to bring this course in-house or face-to-face? Simply contact us for significant cost savings and dates best suited to meet your professional development and business goals.

 

"Dennis Cox is fantastic! Very good. The trainer used numerous real world examples. The course absoutely met our objecives. Really added value!"
Training Manager, Euroclear Bank, Belgium 2021
Agenda Highlights

Session 1:  Introduction to Audit

Session 2:  Risk-Based Audit

Session 3:  Audit Planning

Session 4:  How to Undertake Audit Assignments

Session 5:  Risk and Internal Audit

Session 6:  Tools, Skills and Techniques for Internal Auditors

Session 7: Fraud Prevention and Investigation

Session 8:  Audit Report Writing

 

 

"4 star! Instructor was very engaging, encouraged all attendees to actively participate which ensured everyone was paying attention. All in all a very thoroughly thought out program and walked away with lot better overview of all areas."
Senior Auditor, Prudential, USA 2021
Overview

This 4-day course is designed as a practical workshop to ensure a mastery of up-to-date risk and audit techniques suitable for a Bank.

Audit functions that are able to focus their efforts towards the significant risk in their organisations are able to concentrate their limited resources on the issues, which drive business goals and aspirations. Audit plans are then automatically directed at the issues, which really matter. Moreover, a participative approach whereby auditors and managers work together to identify, assess and control business risks significantly enhances the level of assurance and reduces the chances of surprises.

"{The trainer] was very knowledgeable and able to give opinions across a wide variety of subjects. Very well informed. "
Senior Audit Manager, US Bank, Virginia, USA 2021
Who Should Attend

Designed for bank internal auditors in any sized or type of financial institution who is taking responsibility for individual audit assignments, new entrants, and senior auditors seeking to upskill and refresh regulatory, economic trends and best practise drivers.

Delegates who complete the course will receive a Certificate in Risk-Based Bank Internal Audit.

For those individuals or entire audit departments who require a demonstration of competency for CPD/CPE credits a 20-multiple choice exam, fully invigilated/proctored via email, is available at no addition fee.

 

Additional Course Information

What Does It Cover?

Session 1:  Introduction to Audit 

  • The nature of the audit assignment
  • The internal audit cycle
  • The role of the internal auditor
  • The audit programme
  • To standardise or to tailor?
  • Using prior year’s audit files – a good idea or not?
  • The need to address risk and efficiency
  • The need to introduce a broad business based approach
  • The steps needed to embrace a risk based approach
  • The need to maintain independence 

Session 2:  Risk-Based Audit

  • Definition – what is risk based audit?
  • The transition from systems based to risk-based assurance
  • The different approaches to audit
  • Audit’s primary roles, objectives and concerns
  • What is best practice?
  • IIA standards

Case Studies:  Consideration of the key issues that are met in practice by the internal auditors and how these can be dealt with in practice 

Session 3:  Audit Planning

  • Determining the Audit universe
  • What are the risks in the bank?
  • Developing the risk register
  • Risk-based audit planning
  • The factors you need to consider
  • Determining the level of assurance required
  • Getting management input
  • Translating key risks from the business risk process into the basis of the audit programme
  • Determining the audit universe
  • Determining audit priorities and developing the audit plan
  • Which risks are not easily auditable?
  • The role of the audit committee in audit planning

 Case Study:  What are the key issues that need to be addressed

Case Study:  What are the key risks affecting the bank and how should these be prioritised?

Case Study:  What are the key issues that need to be addressed in an audit planning memorandum?

Session 4:  How to Undertake Audit Assignments? 

  • What is the role of the audit programme?
  • How should the auditor commence the review on site?
  • How should they select issues to concentrate on?
  • What are the key approaches available to the auditor?
  • How should they use statistical sampling?
  • How many items represents enough?
  • How should internal controls be documented by the auditor?
  • How should controls be assessed? 

Case Study:  Using statistical techniques consider the nature of the results from an audit test and how this should be reported to the audit committee 

Session 5:  Risk and Internal Audit

  • Approaches to risk management and the role of internal audit
  • Risk and your organisations culture – the audit of risk appetite
  • Risk averse and risk embracing cultures and the impact on assurance
  • Internal audit alignment with strategy
  • The role of the audit committee
  • Risk appetite as a driver of corporate behaviour 

Case Study: Consider personal risk appetites and their impact on the company

Case Study: Develop an audit programme for the audit of risk appetite  

Session 6:  Tools, Skills and Techniques for Internal Auditors 

  • How to deal with the audit of “expert” areas
  • Materiality, risk and audit strategy
  • Designing substantive procedures
  • Auditing computer accounting systems
  • Using computer assisted audit techniques
  • The relationship with the auditee
  • The relationships within the team
  • Auditing internal control

Case Study:  Develop audit materiality in individual areas, consider how they differ in practice and its impact on the audit approach

Case Study:  How to score and evaluate risks

 

Session 7: Fraud Prevention and Investigation 

  • Policies, processes, procedures
  • Physical security
  • Surveillance
  • Staff vetting
  • Monitoring – transactions, email, mobile phones, land line telephones
  • Whistle blowing
  • Customer complaints
  • Relationship managers 

Session 8:  Audit Report Writing

  • How to communicate audit findings
  • The role of Group Audit Notes
  • The closing meeting – how to make this work?
  • When to press and when to fold
  • How to combine value for money and risk findings
  • The role of the final report
  • The nature of the language to be used
  • Should names be included in an audit report?
  • Prioritisation of audit findings
  • The role of an executive summary
  • The use of appendices
  • Reporting to the audit committee – exception based escalation
  • The structure of audit reports
  • Creating an executive summary from an audit report
  • Getting the level of detail right
  • Length v detail
  • Knowing your audience
  • The audit unit ranking
  • What works and what misses?
  • Models for structuring audit reports
  • Background – what is it for?
  • Grouping findings together
  • Dealing with more than one option in an audit report
  • Writing to get agreement
  • Techniques for forming arguments and building your case
  • Developing a standardised audit report structure
  • Knowing what to include and what to leave out
  • Annexes and appendices
  • Improving Audit findings
  • When to negotiate and when to fold

Case Study:  Discuss how to improve your chances of success at the closing meeting

Case Study:  Consider examples of audit findings and their likely impact

  END

Learning Objectives

Participants will gain knowledge, know-how and real life experience from the expert/trainer who will ensure that delegates leaving the course will

  • Understand new and emerging internal auditing techniques such as risk based internal audit
  • Be able to plan an individual audit assignment to focus on the key issues
  • Carry out an effective audit assignment planning through to completion of fieldwork
  • Focus their audit work on monitoring controls and other monitoring activities of line management
  • Appreciate how to combine risk and value for money auditing into a comprehensive structure
  • How to report findings in a supportive manner
Social Learning & Methods

Highly interactive expert-led intensive presentation, Q&A, group real-time in-depth case studies, regulation and discussion supported by key principles and theory.

The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimize live face-to-face visual interaction, discrete chat, and for polling and quizzes.

(An invitation via email with access link is included for all participants.)

Registration

NEW Risk-Based Internal Audit for Banks

Course Fee

Summer Sale of 10% through June 1, 2022

Course Fee (per person):
GBP £2,995.00 (+ UK VAT when applicable)

Number of delegates:

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