OCEANIC Conseil - Formation
FR

The process of a financial audit assignment

Context and rationale

The mission of internal audit is to enhance and protect the organisation's value by providing objective, risk-based assurance, advice and insight.

This course will enable you to draw up an audit plan in line with the assignment's objectives and to carry out an internal audit assignment using suitable techniques and tools.

Training objectives

  • Drawing up an audit plan in line with the assignment's objectives
  • Mastering the different stages of an audit assignment.
  • Carrying out an internal audit assignment using suitable techniques and tools
  • Collecting and assessing information useful to the assignment's objective
  • Writing a quality audit report
  • Closing the assignment by organising the feedback and follow-up of recommendations

Training content

Fundamental elements of an internal audit assignment
  • Definitions and reminders: internal audit, internal control...
  • How the internal audit function has moved towards a risk-based approach.
  • The added value of internal audit.
  • The framework of professional practices.
  • The reporting line of internal audit.
  • The internal audit charter.
  • The code of ethics.
  • The process of conducting an internal audit assignment: the people involved, the stages, the inputs and the outputs
Planning the audit assignment
  • Preparing the assignment and the assignment order.
  • Risk analysis.
  • Internal control framework.
  • Work programme.
  • Audit objectives.
  • Audit procedures.
Carrying out the internal audit assignment
  • Information collection plan
  • Essential checks
  • Types of control and strategy
  • The concept of evidence in internal audit
  • Root cause analysis technique
  • Drawing up recommendations
  • Consistency and validation
  • Rating the audit report
Writing the audit report
  • How to build an audit report.
  • Why an audit report matters.
  • The structure of the audit report.
  • The closing meeting.
  • The objectives of an audit report.
  • Audit documentation.
Communicating the work and conclusions of the internal audit assignment
  • Active listening.
  • The coaching approach.
  • Communication techniques.
Following up the recommendations of the internal audit assignment
  • The different types of follow-up.
  • The stakeholders' responsibility in the follow-up.
Basic tools for an audit assignment
  • Questioning tools
  • Statistical sampling
  • Interviews
  • IT tools
  • Internal control questionnaire...
  • Description tools
  • Physical observation
  • Audit trail
  • Familiarisation questionnaire
  • Process approach...

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