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.
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 Assessment
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
1. Transaction Processing
2. Security
3. Reporting
4. 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
Thank you Danny.
Really enjoyed your course and I don’t say that very often.
IT Auditing for Non-IT Auditors (Omaha) Attendee - May 2017
The Practical Ethics course was extremely interactive and encompassed many different subjects and situations. It was very interesting and helpful to hear several different perspectives on these issues and made you think of how you would respond in specific situations and why. I can definitely take some of the thinks I learned in this class and apply them in real-life situations.
Practical Ethics Attendee - Spring 2017
Thank you for leading the session on Rethinking the Audit Process. I enjoyed it a lot as you were able to engage participants throughout the day to keep it interesting and educational at the same time. Thanks again and I hope to attend and I hope to attend other trainings that you lead in the future.
Audit 2020 - Portland IIA
I recently attended the Soup to Nuts: The Fraud Risk Assessment Process class in Boston. I would like to share that this was one of the very few classes I truly enjoyed as it exceeded my expectations both in content and experience as a “student”. The material for the class is shared prior to the class which allows you to better prepare for the topics of discussion. I related to the material both on a professional and personal level – fraud can happen anywhere! The class was very interactive giving everyone an opportunity to learn and network with one another. Danny Goldberg, the instructor, is an extraordinary instructor. He engages and challenges everyone, thinks outside the box by looking for ways to ensure everyone’s energy (both physical and mental) is up the whole time, by having stories and examples that everyone can relate to, and even offers prizes for best participants/teams as an additional incentive. I would love and look forward future classes taught by Danny G.!
Fraud Risk Assessment Attendee - Boston IIA March 2017
“Thank you for the wonderful presentation, it was engaging, thought provoking and I absolutely loved the synergy in the room !! I have finally taken the time to read my notes to reinforce the conversation’s leveraged from your multiple presentations….” – Attendee, St Louis IIA, Fraud Auditing and Practical Ethics
Attendee, St. Louis IIAManagerSt. Louis, MO
“It was great meeting you last week in your training class. I really loved your presentation and content and how you made the course very interactive. I found your session to be very powerful.” – Attendee, CAE
San Jose IIA: People-Centric Skills
“I wanted to thank you for your time teaching the class. I enjoyed how engaging it was and thought I got a lot of information out of it.”
“Thank you for making it so fun! I honestly wasn’t expecting to laugh so much, but I really appreciate that you kept the training lighthearted and engaging.”
Audit 101 Attendees - Houston IIA
Danny is a great speaker and the review of the audit process is critical because many times, we might think we are being valuable to our institution, but we have some areas that we may lack. The discussions with the audience were helpful because I got to hear similarities and differences among audit shops because everyone has certain ways that they conduct their processes. As still being fairly new to internal audit, this session really opened my eyes more to the audit process and the ways that we should carry ourselves among our colleagues in the institution.
ACUA Annual Conference (Miami) - 9/2016
I just wanted to drop a quick note saying thank you for yesterday’s training. The group was the most genuine and engaged I’ve experienced – very neat to be a part of it. In our small group discussions, it was so rich in dialogue – I will use it in my daily life many times over.
Non-Auditor Attendee, Central North Dakota IIA April 2016
Critical Thinking Course - Central North Dakota IIA - April 2016
The Fraud training session yesterday was really great. You have a great way of providing good, relevant information while also being very entertaining and keeping the group engaged. That is not an easy feat, especially during those all day sessions so thanks again.
Fraud Risk Assessment Attendee - Boston IIA March 2017
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