Dates for this course

22/11/10 - 03/12/10

Who should attend:

• Officers in an Internal Audit role or senior Finance Department officers who engage with the audit function.

Course objectives:
• To establish and maintain high standards of auditing
• To meet the developing needs of users of financial information
• To ensure public confidence in the auditing process
• To develop awareness of current changes in International Financial Reporting Standards
• To establish the principles and procedures with which auditors are required to comply in carrying out audits
• To advance the participants’ understanding of the roles and responsibilities of auditors
• To study the procedures and rules of auditing laid down by the International Standards for Auditors
• To make the course participants familiar with Audit Charters

Course content
• Framework of Internal Auditing
• The Institute of Internal Audit Standards
• Performance, Attribute and Implementation Standards
• Recent changes in International Accounting Standards / Sarbanes-Oxley
• Enhancing Bank Transparency
• The assessment and ranking of operational risk
• Financial systems structure and design
• The proactive role of Audit in establishing systems controls at the design stage
• The function of the internal audit in the reinforcement of internal controls
• Engagement objectives
• Quality assurance
• Respective roles of internal audit risk management and management compliance functions
• Engagement disclosure to management of non-compliance with audit-standards
• Communication and dissemination of audit results
• Financial fraud – methods and detection
• Current problems in auditing and accounting standards in relation to the credit crisis
• The failure of Credit Rating Agencies