Overview
An effective audit will produce the desired or intended result. It is built on a broad and deep assessment of an area, process, or system. It “begins with the end in mind” and creates a meaningful plan an auditor or audit team will follow. An efficient audit is one where we work productively with minimum wasted effort or expense. Audit leadership sets in motion themes and expectations based on risk assessment and communication with stakeholders inside and outside internal audit.
Effective auditing means having a firm grasp of the scope, budget, resources, personnel, and timeline dedicated to a project. Auditors need to be able to manage unplanned issues while moving forward on audit goals and tasks in progress. An efficient audit requires focus and discipline to stay the course. This course explains and provides examples of who, what, why, and how to structure and manage a more in-depth and meaningful process and produce great results for both the client and auditor.
Learning Options
Below are the available learning options for this course:
AuditPro
Online On-Demand
This course is available through AuditPro — a subscription-based, on-demand learning platform. As a subscriber, you will have access to an ‘all you can watch’ library of courses that are built in alignment with the National Association of State Boards of Accountancy (NASBA) standards.
Learn more & subscribeEnterprise Solutions
Tailored Experience
Bring this course to your organization at your convenience. ACI Learning can deliver this instructor-led course for your team at a chosen location or virtually. Alternatively, choose the topic(s) you need and ACI will craft a training solution to keep your team future-proof.
Customize your trainingNASBA Certified CPE
Auditing
Why you should take this course
For users with an introductory knowledge of this topic, and are searching for additional information and its application.
Who should take this course
Internal Auditors, Compliance Experts, and leaders in Internal Audit departments.
Prerequisites
- Fundamentals of Internal Auditing
- or equivalent experience
1. Preliminary Planning
• The Triple Threat of Infrastructure
• Articulate Schedule and Resources
• How Agile Do We Want to Be?
• Drawing the Outlines of the Audit Project
2. Initial Schedule
• Project Roles
• Skill and Will
• Communication Protocols
• First Phase Cornerstones
3. Opening Stand-Up
• A3 Thinking
• Shared Ground Rules and Routines
• Kanban Boards
• A3 Thinking in Practice
• A3 Thinking and Creating Visual Control Boards
• Methodology Pros and Cons
4. Initial Research
• Work Breakdown Structure (WBS)
• Digging Into the Area, Process, or System To Be Audited
• Applied Research and Discussions with Leadership
5. Walkthroughs
• Planning Workshops
• Taking a Gemba Walk and Choosing Your Tools
6. Risk Assessment
• Beginning of the Engagement
• Iterative Risk Assessment
• Visual Risk Assessment
7. Risks, Control Objectives, and Control Activities
• Risk-Control Matrix
• Identifying and Documenting Controls
• Creating a Risk-Control Matrix
8. Iterations
• Iteration Size and Organization
• Testing Approaches
• Workpapers
9. Refining Scope and Performance Measures
• Defining Success
• Updating Documents to Reflect Audit Prioritization
• Communicating With the Client(s)
10. Managing Oneself and the Team
• Understanding Staff Skills
• Stakeholder Management
• Supervision
• Changing Focus Periodically
• Self-Management
11. Analyzing Audit Quality Requirements
• Documentation Standards: Workpaper Preparation
• Documentation Standards: Workpaper Review
- Identify how to incorporate Agile methodologies in the preliminary audit planning process.
- Distinguish audit roles based on skill and will matrices and explain how to develop a communication cadence with your audit team based on the needs of the audit.
- Identify and utilize different tools to help your audit team visualize and capture real-time audit progress and challenges.
- Explain the importance of iteration in the Agile audit process.
- Discuss Agile best practices at the various stages of the audit engagement process.
ACI Learning is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.