IA-107 AUDITOR-IN-CHARGE SKILLS DEVELOPMENT: THE TOOLS AND TECHNIQUES THAT GUARANTEE SUCCESS

IA-107 AUDITOR-IN-CHARGE SKILLS DEVELOPMENT: THE TOOLS AND TECHNIQUES THAT GUARANTEE SUCCESS

DESCRIPTION

The role of Auditor-in-Charge is a significant change from the role of staff auditor. Having the right knowledge, tools, and techniques can make the difference between a smooth transition and a painful one for everyone involved. This course will lay out the knowledge and skills necessary to make a successful leap to the role of Auditor-in-Charge through an integrated approach of lecture, group exercise, real-life case studies, and discussion. Participants will be introduced to the IPPF standards and each phase of the audit—from planning to wrap-up—will entail learning proven techniques for success. The course will focus on delivering a quality product for the organization while ensuring productive relationships with clients and meeting on-time, on-budget audit goals.

LEARNING OBJECTIVES:

  • Understanding how to effectively plan and prepare for an audit
  • Learning how to keep the audit in scope and on time
  • Learning how to effectively manage client relationships
  • Understanding how to develop an effective risk-based audit plan
  • Learning proper and effective methodologies for prioritizing risks and the audit plan
  • Learning effective supervision methods for the field work

 

COURSE OUTLINE

IPPF for the Auditor-in-Charge

  • IPPF standards for the role of the Auditor-in-Charge
  • Applying the IPPF standards to the Auditor-in-Charge role

Auditor-in-Charge: What It Means

  • What qualities are required to be effective as the Auditor-in-Charge?
  • What has changed? (Going from staff auditor to Auditor-in-Charge)
  • Expectations and responsibilities for an Auditor-in-Charge
  • Identifying leadership qualities desired in an Auditor-in-Charge

Planning the Audit

  • IPPF audit planning standards | The importance of proper audit planning
  • What is included in the planning phase
  • Effective planning tools, techniques, and methods
  • Leveraging data analytics in planning—potential uses and areas
  • Responsibilities of auditors for fraud prevention and detection
  • Integrated audit planning

Audit Programs and Staffing

  • Developing the audit program and allocating resources
  • Linking business objectives to risks to audit objectives to test plans—closing the loop
  • Setting realistic and fully understood expectations within the team
  • Prioritizing the audit program, steps, and sequencing of the audit program
  • Planning test sequencing and timing for a less invasive approach on business
  • Assigning roles and responsibilities for the audit team

Audit Supervision and Project Management

  • Keeping the audit on-time and within budget
  • Preventing scope creep—how, and what to do when it happens anyway
  • Dealing with changes during the audit—Scope | Risk Assessment | Staffing
  • Managing the audit as a project—using proven project management skills in audit
  • Strategies for resolving conflicts—with client and within team
  • Making decisions as the Auditor-in-Charge

Reviewing Workpapers

  • Reviewing workpapers for completion of audit steps and proper format
  • Understanding the IPPF standards for reviewing workpapers
  • Why review? (Understanding objectives for workpaper review)
  • Quality Control and ensuring audit objectives are met

Close-Out and the Exit Conference

  • Conducting an effective exit conference based on tips for success
  • Describing roles and responsibilities for the exit conference
  • Identifying the functions of the exit conference
  • Describing elements for consideration during planning for an exit conference
  • Planning an exit conference | Evaluating the success of an exit conference

Reporting and THE AUDIT REPORT

  • Knowing your audience
  • Setting objectives for the report | Planning the report
  • The 5 Cs and ensuring the team uses them for every finding
  • Visual reporting to ensure the message is quickly received and understood

Wrapping up the Audit

  • Feedback from the client—surveys, questionnaires, etc.
  • Establishing follow-up requirements for the audit conclusions
  • Staff performance appraisals | IPPF performance appraisal standards
  • Lessons learned
Duration

CPE

Delivery

Field

Level

Who Should Attend

 

Prerequisites

Advanced Preparation

2 Days

16

Group-Live

Auditing

Intermediate

New and existing Auditors-in-Charge, audit management, senior auditors

Auditors with at least 2 years of experience

None