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Understand the fundamentals of operational auditing and how to evaluate operational performance

INTERNAL AUDIT SCHOOL

www.mistieurope.com/inhouse

Internal Audit

5 Day Course:

15-19 February 2015 Dubai

13-17 April 2015 Singapore

8-12 June 2015 London

26-30 October 2015 London

16-20 November 2015 Hong Kong

The Global Leader In Audit and Information Security Training

Why Attend This Course?

n Understand the fundamentals of operational auditing & how to evaluate operational performance.

n Appreciate the benefits of risk based auditing and associated tools and techniques and practice using them with practical exercises.

n Explore why communication sometimes seems difficult and ways to improve how you communicate with your clients.

n Be up to date with current best practice audit techniques and gain confidence in undertaking risk based audits of core business activities.

“I have really benefitted from the course. It has given me a new approach and a new way of looking at internal audit”Business Controller, Novo Nordisk

Course Director: Lin Bartlett Lin enjoyed a varied 27 year career with Shell before specialising in Internal Audit training and has since worked with a number of significant players in the sector.

Understand the fundamentals of operational auditing and how to evaluate operational performance

INTERNAL AUDIT SCHOOL

Course Director: Lin Bartlett

During her 27 year career with Shell, Lin held a number of senior management roles in IT, Finance and Audit. As Shell UK’s Integrated Audit manager, she developed and gained board approval for a riskbased integrated audit planning and management process, establishing integrated audit plans and assurance maps for all key business areas. She is a trained auditor in financial, IT, health, safety, environment and quality management and planned and managed major audits in many different parts of Shell’s business including upstream, downstream, gas and chemicals.

In 2003 she successfully helped establish a new company to challenge the sustainability assurance offering in the marketplace - a key area in this sector and to raise the standard of assurance & verification of nonfinancial reporting available and has subsequently provided assurance & verification services to a number of blue chip companies.

Lin has also been engaged on a global Sarbanes Oxley 404 compliance project for a FTSE 100 company where she was responsible for both the global project planning and management of the team responsible for compliance. More recently Lin undertakes External Quality Assessments (EQAs) as required by the Institute of Internal Auditor’s International Standards for the Professional Practice of Internal Auditing and Code of Ethics. She also provides training and helps companies prepare for an EQA.

Lin is a Senior Instructor for MIS Training Institute and delivers both external and in-house courses on all aspects of Internal Auditing including the Fundamentals, Lead Auditor/team leading skills, Risk based Operational Auditing, and Consultancy skills. She is also a member of the MIS Internal Audit Advisory Board.

Telephone: +44 (0)20 7779 8202 Email: mis@mistieurope.com

Course Focus And Features

The role of the internal auditor has been changing dramatically over the last few years. With the introduction of consulting as a basic internal audit role, one might have anticipated that there would be a move away from basic compliance activities to embrace more value adding consultancy assignments, but then along came a series of high profile scandals and Sarbanes Oxley legislation and more recently the banking crisis. Financial controls compliance became an area of focus once again for internal audit as standards were raised for both external auditors and internal auditors. Alongside these changes many companies were introducing enterprise risk management systems and the profession has been introducing risk based internal auditing all significantly adding to the challenges that internal auditors now have to manage in carrying out their responsibilities. This five day audit school provides practical and valuable guidance on operational auditing of core business processes, the internal auditors’ role with regard to compliance activities, enterprise risk management and risk based internal auditing and reviews the guidance from the International Standards for the Professional Practice of Internal Auditing (ISPPIA). It teaches participants how to identify and prioritise risks and assess the efficiency, effectiveness & economics of core business processes, providing practical exercises to help delegates gain confidence in the techniques presented and in their own ability to use them.Delegates will also have the opportunity to identify their clients or stakeholders and to assess their needs and expectations as well as understanding the tools & techniques that can help them to ensure that their communications are effective and to practice using them in a safe environment. These softer skills can be of particular value in managing the more challenging and also sometimes sensitive situations.

Who Should Attend

Auditors who want to learn or update their knowledge of operational best practice and associated tools and techniques.

Prerequisite A basic understanding of the internal audit process.

Advanced Preparation: None

Field of Study: Auditing

Training Type: Group-Live

Learning Level: Basic/Intermediate

CPEs: 37

Price: GBP £2,995+VAT**Delegates may be able to claim back VAT. Visit www.mistieurope.com/VAT for more information.

Telephone: +44 (0)20 7779 8202 Email: mis@mistieurope.com

Session 3: Understanding patterns of communications• The importance of both verbal and non-verbal communications• Developing rapport with your clients • An introduction to subtle skills for enhancing communication through

techniques such as neuro-linguistic programmimg Exercise: Recognising and using body language

Session 4: Conducting effective interviews• How to choose the most appropriate interview strategy• Planning and managing an interview• The importance of preparation• Possible barriers in the interview• The difficult interview

Day Three:

Session 1: Auditing the procurement function• I dentifying the core purchasing activities and control objectives• Evaluating and translating the key business risks into the audit programme

and testing schedule• The importance of segregation of duties controls• Assessing governance, policies and procedures• Evaluating Supplier managementCase study: e-procurementExercise: identifying the key risks in the requisition to payment process

Session 2: Auditing major contracts• Understanding the different types of contract and audits required• Differentiating between the various key stages of the contract life cycle• Reviewing generic contract management risks• Contract fraud – areas to auditExercise: Brainstorming contract threats and opportunitiesCase study: Contract fraud

Day One:

Session 1: Setting the scene - internal auditing today• Learning from recent high profile scandals• The impact of Sarbanes Oxley legislation• Leading edge trends / top priorities for Internal Audit • Identifying the overall assurance framework• Managing the 360 degree perspective of risks and opportunities

(reputation, social and ethical risks)Exercise: Identifying where Internal audit is positioned in your company Session 2:What do we mean by risk based auditing?• An introduction to the principles of risk based internal auditing• Recognising the differences between a systems based audit &

a risk based audit• IIA guidance and direction• The risk maturity frameworkCase studies: – Example risk evaluation process – Example risk registers Exercise: Recognising risk maturity Session 3: The fundamentals of operational auditing• Operational auditing defined• Understanding the differences between operational, financial

and compliance audits• The 6 E s – efficiency, effectiveness, economics, equity, ethics

and the environment

Day Two:

Session 1: Understanding your key stakeholders and their needs and expectations• Identifying key stakeholders• Planning for their communicationExercise: Stakeholder analysis Session 2: Recognising the importance of listening• Understanding the difference between hearing and listeningExercise: Developing listening skills

Group Booking Discount**

3 delegates -

10% discount

2 delegates -

5% discount

4 delegates -

12% discount

5 delegates -

15% discount

**Available for delegates from one organisation attending the same course

Session 2: Fraud awareness• Identifying internal audit’s role• Why fraud happens• Profiling the fraudster• High-potential areas for fraud occurrence• Indicators of potential fraud – red flags• Techniques for preventing fraud• Using the computer to detect fraud Course Review and Closure

Register online at: www.mistieurope.com

Day Four:

Session 1: Auditing sales and marketing• Why sales and marketing is often difficult to audit• Identifying the risks to the achievement of marketing

objectives and targets• Assessing advertising and promotions• Order processing• Pricing and discount policies• Sales management and performance monitoringExercises: – Marketing risk brainstorm – Reviewing risks in the sales to receivables process – Segregation of duties

Session 2: Auditing the human resources (HR) function• Current issues for the HR profession• Identification of the core HR objectives and targets• Brainstorming the risks and evaluating the responses• Employee recruitment, terminations and appraisals• Management of employee compensation and benefits administration• Evaluating HR effectiveness and performance monitoringExercise: Developing audit terms of reference for a risk based operational audit of the recruitment processCase Study: Balanced scorecard for an internal audit department

Day Five:

Session 1: Auditing governance and ethics• Understanding the importance of the corporate culture• Identifying the ethics and governance framework and key risks• Assessing alignment with organisational values and goals• Evaluating management performance and effectiveness• Managing sensitivities and reportingExercises: - Auditing ethics and compliance - Ethical dilemmas

TAILORED AND PERSONALISED IN-HOUSE TRAINING Why Choose In-House Training?Savings - Running an in-house course in your offices will ensure you avoid the costs of travel and accommodation. Plus we charge per day not per delegate. You can train six or sixteen people for the same price! Convenience - We can arrange a course that fits your team’s schedule. Any dates, any location, simply tell us what works best for you. Avoid the hassle of coordinating travel arrangements and accommodation for your staff Tailored training - We have over 150 existing training courses you can mould to fit your exact requirements or if you prefer we can just create a new agenda. You will have complete control over the course content Confidentiality - You can focus on potentially thorny issues that may be specific to your organization which are best resolved in private with the expert guidance of your course director

Some Of The Companies We Have Worked With:PwC • International Labour Office • Barclays • Capital One • Legal and General • Deloitte • European Court of Auditors • Lukoil • Credit Suisse AG • Euroclear • AIB • U.S. Steel, Corp. • Novartis • National Commercial Bank • Qatar National Bank

Visit www.mistieurope.com/inhouseCall us on 0207 779 8202Email mis@mistieurope.com

INHOUSETRAININGSave up to 50%

with In-House Training