Delegates attending this course will have the desire to set up or improve their own organization’s internal audit function. The development, monitoring and continued improvement of a highly-integrated, internal audit function is essential for the continued financial success, stability and growth of world-class organization.

A well designed and effective internal audit system will provide verification and support that accounting and financial policies, procedures and controls are working adequate. An appropriate system of internal controls will be required for the organization to protect itself from the risk of fraud and an effective internal audit function will suggest suitable internal controls, monitor effectiveness of these controls along with other tasks that will lead to greater profitability and lower risk for the organization.

This course will feature:

·         Understand the role and function of an Internal Audit Department.

·         Develop an Audit Committee Charter for a Board of Directors

·         Evaluate the effectiveness of in-place internal controls and security policies.

·         Understand audit risk and efficiently plan, control and record an audit assignment

·         Conduct post-audit reviews and compile internal control updates for Boards of Directors

Objectives

·         Navigate through the features and functions of Excel®

·         Distinguish between data and output in spreadsheet architecture

·         Analyze financial statements in order to plan ahead

·         Build effective financial planning models

·         Use forecasting techniques for budget preparation