Developing the audit plan and audit strategy
Presented by: James Paterson
The audit plan should not just be about the audit plan, it is a key opportunity to strengthen relationships with key stakeholders. In addition, an audit strategy can “set the stage” for many of the things the internal audit function does and how it is perceived.
There are two key areas that regularly come up as issues for internal audit functions when having an external quality assessment: 1) the audit plan does not sufficiently align with the strategies, objectives and risks of the organisation and 2) the plan does not take into account other assurances.
In addition, internal audit teams are increasingly being asked to do a rolling/agile audit plan whilst also having demands to do assurances on regulatory matters. There are also questions about where internal audit fits in the organisation’s strategy.
What will I learn?
This course will share some of the latest good practices and insights in relation to internal audit plans, including details from the latest global IIA practice guide. It will also help participants to clarify the link between where internal audit is going and the organisation. It will also be an excellent opportunity to benchmark what you do with others.
Who should attend?
This course is open to all.
- what is your process for planning and is it documented?
- who do you consult?
- what is best practice in terms of linking the internal audit plan to objectives and key risk areas, whilst delivering core assurance areas?
- how to factor in “value add” into the planning process, including potential differences in what is done between senior management and the audit committee?
- the importance of being clear about the “exam question” and knowing how much assurance each assignment is giving
- audit universes – what is best?
- what is the best way to approach longer term planning horizons, as well as shorter-term changes?
- how to do a high-level assurance map that will link to key areas of the plan
- what is an internal audit strategy and why does it matter? Using a strategic plan to clarify the position of internal audit and to raise points about positioning and staffing
- how to use the annual plan/audit strategy to deepen the relationship between the head of audit and senior stakeholders?
- how to effectively address the question “do you have enough resource”? in a way that gets a constructive debate going.
CPE competency areas covered
- Internal audit delivery
- Improvement and innovation
7 CPE points
Member: £625 + VAT
Non-member: £840 + VAT
SAVE 20% by undertaking this course virtually
Date:14 December 2020
Sorry, this event is now fully booked.