Developing the Annual Audit Plan - OAG252

Overview

The course will prepare participants for developing the Internal Audit plan. Participants will assess applicable auditing standards for planning requirements while developing the technical and soft skills required to document and communicate the audit plan to clients and stakeholders. Participants will develop the skills necessary to identify internal, external, and industry risks. 

This course will focus on teaching participants how to assess resource requirements, identify potential audit projects, and align audit work to organizational risks. This course will prepare participants to build an audit plan aligned with organizational risks and communicate the plan and subsequent updates to stakeholders.

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.

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Enterprise 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 training

NASBA Certified CPE

16 Credits

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 Audit Managers and Directors, Audit Committee members, and External Auditors.

Prerequisites

  • Auditing for In-Charge Auditors
  • or equivalent experience 

1.    What Is The Standard?

    The International Professional Practices Framework (IPPF)

    Government Accountability Office (GAO)


2.    Understanding Your Industry

    The External Element: The Industry Standards

    The Internal Element: Organizational Standards

    The Cultural Element: People Standards


3.    Know Your Organization

    Know The Sector

    Organizational Politics: The Board of Directors

    Organizational Politics: The Audit Committee

    Organizational Politics: The Subcommittees


4.    Identify a Risk Assessment Methodology

    The Why and the How

    Know Your Options

    Qualitative vs. Quantitative Characteristics

    The Rating Scale

    Surveys and Interviews

    Information Gathering

    Design Your Questions


5.    Define Your Risk Universe

    Industry Standards and Stakeholder Management

    Classifying and Assigning Ownership

    Finalize Your Risk Universe


6.    Assess the Risks

    The Different Types of Meetings


7.    Coordinate With Others

    Internal and External Collaboration


8.    Assess Your Resources

    Scoping and Planning

    Capacity Planning

    Techniques to Mitigate Gaps

    The Preliminary Plan

    How Can You Get More Coverage?


9.    Communicate The Plan

    Who Needs to Know?

    What if They Don’t Agree?

    How Do You Deliver the Plan?


9.    Execute and Update

    Monitoring and Reporting

    Reassess and Notify


  • The learner will be able to identify and communicate audit planning requirements.
  • The learner will be able to identify and document the internal and external operating environment.
  • The learner will be able to identify and assess risks.
  • The learner will be able to build an audit plan in line with organizational needs and resources.
  • The learner will be able to communicate the plan and subsequent status updates to stakeholders.

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.