SOFT Approach to Auditing

Seminar Overview

A Modern Approach to Integrated Internal Auditing

In these times of economic downturn and cost cutting, audit departments around the nation are looking for innovative ways to cut costs, meet obligations but also add value. How can audit departments meet all of these objectives with limited resources? The SOFT Audit is an integrated approach to internal audit, which combines Sarbanes-Oxley Compliance, Operational, Financial and IT Auditing into one comprehensive audit approach. This one day seminar will give you an overview of how to apply this innovative approach in your audit department.


Who Should Attend
Financial, Operational, and Information Technology Auditors with looking to integrate many audit approaches into one consolidated audit.

  • Overview of varying approaches to audit and basic integration steps
  • Overview of best practices in SOX integration
  • Overview of IT auditing and integration of IT into general audit approaches


I. Introduction and Background
II. What is the SOFT Approach to Auditing?
     a. Origins
     b. Definition
III. S – SOX/Controls Optimization
     a. COSO Overview
     b. Key Controls
     c. Review of Controls by Area
          i. Cash
          ii. Inventory
          iii. Fixed Assets
          iv. Payables
          v. Others as Needed
     d. Fraud Schemes by Area

IV. Operational Auditing
     a. What is Operational Auditing?
     b. Key Aspects of Operational Auditing
     c. Operational
     d. Identifying Criteria
          i. Sources of Criteria
     e. Documenting Knowledge

V. Financial/Substantive Audit Best Practices
     a. Audit’s role in financial auditing
     b. What is substantive auditing?
          i. How to utilize in internal auditing?
     c. Ratio analysis

VI. IT Audit Optimization
     a. Transaction Processing
     b. Security
     c. Reporting
     d. Data Interfaces and Conversions

VII. Auditing Outsourced Operations
     a. Responsibility of Risk

VIII. Integration of Audit Approaches
     a. Risk Analysis
     b. Overlap and Synergies between each audit approach
     c. Development of audit workprograms
     d. Documentation of integrated audit

IX. Staffing Needs
     a. Developing multi-talented auditors
     b. Identifying needs for an integrated audit

X. Creating a Comprehensive Audit Report
     a. Creating an Integrated Audit Report
     b. Key Sections
     c. Key Information to Highlight
     d. Comprehensive Example