Part 1: Risk Based Internal Auditing
It has become abundantly clear from past corporate missteps and such pronouncements as the COSO ERM model, the recently issued GTAG on continuous auditing and risk assessment, and the IIA position paper on enterprise risk management in the UK and Ireland, that the internal audit department must align itself very closely with the business in order to assume a vital role in the overall success of the organization. In addition, increased reliance of senior management and the audit committee on the competence of the internal audit staff necessitates that IA maximize the quality and impact of all of its efforts. To fulfill all of these expectations many organizations are taking a risk-based approach to their audits.
In this intensive three-day first part you’ll see for yourself why audit functions that focus their efforts on significant risks are able to concentrate their resources on issues that drive their businesses. You will learn how to put in place a risk-based approach that is truly business oriented. You will gain an understanding of what is necessary to make your audit function totally risk based; learn tools, techniques and methodologies that will boost auditor productivity and bullet-proof’ audit plans; and discover how to convert the entire audit process to a risk-based approach that will take you from planning all the way through to report writing. Throughout the seminar class exercises will allow you to hone your risk-based auditing skills. You’ll leave this session with a specific understanding of what is necessary to be risk-based and how to implement this approach.
Part 2: Auditing Human Resources
Human Resources continually finds itself in areas of potential risk; employment law issues, compensation, benefits, and record keeping as well as fraud issues. Internal Auditors need to be aware of emerging issues, key business risks and control best practice. The course is built around a case study for an organisation with a HR function that has a number of challenges. In this course you will learn to provide assurance on the key HR processes, recruitment, salaries & bonuses, payroll, training and performance appraisals.
Why attend this course?
- Uncover how to adopt a risk based approach to internal auditing
- Review enterprise risk management and how to effectively establish a framework in your organisation
- Evaluate internal audit’s readiness to adopt a risk based approach
- Develop a plan for how to implement risk based auditing
- Provide assurance to the board and audit committee that:
- The various challenges facing organisations with regard to its people e.g. downsizing, rapid growth are being managed
- Your HR function complies with legislation, procedures and policies
- The management information from the HR function is complete, accurate and timely
- The payroll team is paying the right people, the right money at the right time
- There are no ghost/fictitious employees on the payroll or continued payments to employees who have left the company
- All the risks have been identified, are being mitigated and managed
- The HR function supports the corporate governance framework with regard to key sub-committees of the board e.g. remunerations and nomination