Audit planning latest requirements & good practice
There is a new practice guide on audit planning that reminds us that audit cycles and audit universes are really a legacy of a more traditional approach to planning. Learn progressive ways to do a “top-down” plan that is better aligned to strategies, objectives, and key risks, and that incorporates other assurances. Also, learn how to create a plan that adds value by being clear about the key “exam questions”, and that flows into assignment plans so that timely and relevant assignments are delivered. Learn how to present an audit plan in an impactful way and make clear the needed resources and skills required for the audit team.
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 the 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 for heads of Internal audit, senior audit managers and experienced auditors.
- what is your process for planning, and is it documented?
- who do you consult?
- what is the 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 resources”? in a way that gets a constructive debate going.
CPE competency areas covered
- Performance (Organisational governance | Risk management | Internal control)
- Environment (Organisational strategic planning and management)
- Leadership and communication (Audit plan and coordinating efforts)
About the speaker:
James Paterson PIIA
Previously a finance professional, James was the head of internal audit for AstraZeneca plc for seven years. James has been training, consulting and coaching HIAs and their teams for four years and runs a number of key courses for the IIA.
James was a member of the IIA council and is an active participant at risk and audit conferences and workshops in the UK and overseas. James has had numerous articles published and is currently working on an auditing book project for John Wiley & Sons.
Date: November 23, 2023
Location: remote meeting via Zoom (link will be provided prior to the event)
CPE: 7,5 CPE awarded
Early birds tickets: 130 Eur for IIA members and 160 Eur for non-members. From 1st November 150 Eur for IIA members and 180 Eur for non-members