California Association of State Auditors

 How to focus your Internal Audit function on Real Risks - 4 hours
 
Diversity and Inclusion, Environmental, Social, & Governance and other hot topics make it tempting for audit functions to focus on the hottest industry trends.  But taking our eyes off our organization may cause us to lose sight of relevant risks facing our day-to-day operations.  Auditors who adhere to the IIA Professional Practices Framework are encouraged to audit and promote efficiency and effectiveness.  However, priority must be placed on confirming the risks of the organization are adequately addressed.  Audit plans must be flexible and teams must be adept at adjusting and be open-minded to change based on changes in corporate strategy, and emerging / evolving risks. This course will discuss risk-based audit strategies and development of flexible internal plans designed to accommodate a rapidly changing corporate internal control environment.
 
Who Should Attend: Professionals that are looking to refine their risk- based audit skills, develop risk based audit plans and address emerging and evolving corporate strategies and risks. 
 
Objectives:
 
•           Discuss and review key attributes for identifying risks within your organization
•           Discuss effective risk-based auditing strategies
•           Review key elements for developing a risk-based audit plan                                 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
How to issue audit findings that deliver results - 4 hours
 
Have you ever reviewed an audit finding issued in a prior audit year and questioned what the auditors were trying to achieve?  This course takes attendees through key elements for creating “value-added” findings that deliver results. We will discuss what it takes to complete a detailed root cause analysis and review the basic components of a finding.  From there we will go to a deeper level and cover the different types of findings, when to give consideration to implications associated with long-term finding resolution, how to navigate project management backlogs, and addressing audit committee implications for delayed management action plans.
Who Should Attend: Auditors with any level of audit experience who want to understand and utilize leading practices in internal auditing.

Objectives:
 
•    Discuss the elements of an audit finding
•    Discuss when and if a control weakness is a finding or just a verbal comment
•    Review internal audit industry requirements for issuing and managing audit findings
•    Compare and contrast an audit finding vs a “value- added” audit finding
•    Discuss how to conduct root cause analysis
•    Discuss why auditors should anticipate management’s action plans

How to revise findings that require long-term action plans
How to help management navigate project management backlogs

•    Discuss when and how to address audit committee implications for delayed management action plans

 
NASBA Field of Study: Auditing
Recommended CPE: 8 hours