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
“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
“I enjoyed the training on Fraud and Project Management. You have a great way of keeping people engaged and interested without putting them on the spot. I found a lot of your material interesting.” -Attendee, Audit Manager
St. Louis IIA - Fraud Auditing & Practical Ethics
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
I’ve been a member of the IAFCI since 1996 and had the pleasure to attend the IAFCI Training Conference in Fort Worth last month.
I really enjoyed your presentations on “ Practical Ethics part 1 & 2”. It was hands-down the best ethics session I have ever attended.
IAFCI - Practical Ethics
Just wanted to extend thanks for your presentation on Communication. I found that session to be among the top three sessions of the week, including the keynote speakers.
Attendee, People-Centric Skills: Communications Presentation
ISACA CACS Conference, May 2016 (New Orleans, LA)
“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
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
I attended your presentation on Crucial Communications which was absolutely great! Thanks for being the instructor. You are an amazing instructor and are so lively with the audience.
Crucial Communications - CASA
I enjoyed the class. Your delivery was unique/informal from other presentations I have been a part of and it was effective in delivering the message. I got a lot out of the last two and a half days.
Lansing IIA - November 2016
In our Assessing Risk class last week, I had a gentlemen attend and state that he attended a similar class of ours seven years ago and it gave him a ton of insight on how they eventually set up their ERM program – always good to know that you are making a difference!