Audit2020: Evolving the Internal Audit Process

Course Field: Auditing
Delivery Method: Live/Internet-Based
Prerequisite: N/A
Level: N/A
Advance Prepration:N/A
  • Course Overview

    The internal audit profession is very similar to other professions; very resistant to change. When one of our profession’s main goals is to promote efficiency and effectiveness, we have to be more adept at adjusting and being open-minded to change.


    Audit2020 is a day-long course that takes a in-depth look at the accepted practices inherent in internal audit and critically analyzes each piece, identifying ways to enhance the current view and process of internal auditing.

  • Annual Risk Assessment

    a. What is a Continuous Risk Assessment?

    b. Assessment modes

    c. Assessing Emerging Risk

    II. Foundational Pieces of Successful Internal Audit Departments

    III. Audit Cycle

  • Audit Planning

    i. % of Audit Cycle - New versus Recurring Audits

    ii. Components of Audit Planning

    iii. Kick-Off Meeting – Who/What/Why and for How Long?

    iv. Formality of Engagement Risk Assessment

    v. Risk Categories

    vi. Utilizing a True Top-Down Risk-Based Approach

    vii. What should I test and why?

    viii. Building an Effective and Efficient Audit Work program

  • Fieldwork

    i. % of Audit Cycle – New versus Recurring Audits

    ii. Timing & Contents of PBC List

    iii. Sampling Methodology

    iv. What support to keep and why?

    v. Presenting Observations to Clients

  • Reporting/Wrap-Up & Follow up

    i. % of Audit Cycle – New versus Recurring Audits

    ii. Do We Even Need a Formal Report?

    iii. Timing of Audit Report

    iv. Audit Reports – Emerging Formats

    v. What Words NOT to Use & What to Replace them With


    i. Correlation between Finding Type and Follow-Up Method necessary

    ii. Timing of Follow-Up

    IV. Transparency & Continuous Communication

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