An Intensive 5-day Training Course
Internal Controls: Monitoring, Evaluation & Risk-Based Auditing
Learn How to Implement and Evaluate Internal Controls for Risk-Based Auditing
INTRODUCTION
This highly participative EuroMaTech training course will look at the Internal Controls environment and the roles of the respective stakeholders in monitoring, evaluating and the implementation of internal controls best practices and the impact thereof on external auditors in audit planning, performance and reporting.
This training course seeks to provide you with the knowledge to understand the Internal Controls environment and the respective roles and responsibilities of stakeholders. By applying this knowledge you will develop the skill to perform an Internal Controls risk assessment and implement this in your external audit engagement planning and procedures.
Participants will develop the following competencies
- How to monitor Internal Controls
- How to evaluate effectiveness of Internal Controls
- How to perform an Internal Controls Risk Analysis
- How to use Internal Controls’ evaluation to formulate external audit procedures
TRAINING OBJECTIVES
- Understanding the Internal Controls environment
- Comprehending the roles and responsibilities of stakeholders
- Learning techniques to monitor and evaluate Internal Controls
- Managing risk and how this impacts operational efficiency and effectiveness
- Appreciating the impact of the controls environment on the external audit
- Formulating a risk based audit approach
WHO SHOULD ATTEND?
This EuroMaTech Internal Controls training course is designed for those that have a practical knowledge of audit procedures, who have been involved in their organisation’s audit process or who wish to broaden their professional technical skills. It would suit the following:
- External auditors who wish to develop their technical skills and compliance
- Internal auditors who wish to understand their role in the audit process
- Accountants who wish to understand the scope of the audit and their role
- Financial executives who wish to gain a better understanding of the regulatory audit environment
- Any other professional involved in the preparation for the audit process or the conducting of audit procedures
TRAINING METHODOLOGY
This EuroMaTech Internal Controls training course is delivered as a hierarchy of related but separate modules and proceeds in a systematic interactive manner using lectures, lessons learned, practical examples, video materials, case studies, shared participant experiences and practice sessions and assessments. Participants will partake in group activities as well as individual exercises. (View more Risk Management Training Courses)
TRAINING SUMMARY
This comprehensive EuroMaTech training course will enable each participant to appreciate and understand the complexities of Internal Control environment and how this influences the scope of a well design audit programme.
TRAINING OUTLINE
Day 1 : Roles and Responsibilities in Internal Control
- Background to internal controls
- Corporate governance
- Roles of:
- Shareholders
- Management
- Board of Directors
- Internal Audit Committee
- External Auditors
- Staff
Day 2 : Internal Control Environment
- Limitations
- Objectives of Internal Controls
- Internal Control Activities
- Control Precision
- Fraud and Internal Controls
Day 3 : Internal Controls Monitoring and Evaluation
- Internal Controls Walkthroughs
- Internal Controls and Process Improvement
- Continues Control Monitoring
- Implementation of Best Practices
Day 4 : Internal Controls and the External Audit
- Risk Analysis Summary
- Controls Risk Assessment
- Fraud Risk Assessment
- Control activities design and implementation
- System Description
- Controls Over Significant Risk
Day 5 : Risk Management and Risk Based Audit
- Risk based Audit Standards and Engagement Objectives
- Development of Risk based Audit Programme & Defining Procedures
- Risk based Audit Planning and Matrix
- Risk Management & Control Environment
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
FAQ
Do you provide assistance with hotel accommodation?
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
Do you offer customized training for organizations?
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at [email protected]
What types of training formats do you offer?
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Can you assist with visa arrangements?
Yes, we can help by issuing an official Letter of Invitation once you’ve confirmed your training registration, which can assist in your visa application process.
Who will be the senior consultant leading the training?
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us [email protected]
