Beginning Auditor Tools and Techniques

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COURSE TITLE	DATE	ORGANIZER
Beginning Auditor Tools and Techniques New	21-22 & 28-29 Nov	FIC
Certificate of Financial Modeling and Valuation New	21-22 & 28-29 Nov	FIC
Certificate of Cambodian Taxation New	21-22 & 28-29 Nov	FIC

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Training on

Beginning Auditor Tools and Techniques

21-22 & 28-29 November 2015

To become a successful auditor, a strong base of knowledge and an understanding of basic audit skills are essential. With this program, new auditors, as well as non-auditors with internal control responsibilities, can learn the ins-and-outs of an audit from beginning to end. Through team exercises, group discussion, and facilitator presentations, attendees will gain a foundation of knowledge that will allow them to prepare properly for and conduct a successful audit, using preliminary surveys and evidence-gathering techniques. A basic understanding of how to identify risks and internal controls in auditing will also be stressed, along with interpersonal and team-building skills.

COURSE OBJECTIVES

To enhance the skills of junior internal auditor as well as accountants or relevant professionals with internal control responsibilities to apply the practical experience in the work place. 

COURSE OUTLINE
I. Internal Audit Today

• Discuss some of the best practices within internal audit today.
• Identify core services and value-added opportunities provided by internal audit.
• Identify the roles of internal auditors.
• List internal audit’s customers and stakeholders.
• Determine the activities that occur within each stage of the audit model.

II. Risk Assessment and Risk Management

• Mitigate risks to help ensure management directives are carried out.
• Use impact and likelihood factors to assess risk.
• Define risk management concepts and terms.
• Identify controls for mitigating risks to strategic objectives.
• Evaluate control issues using the COSO Framework.
• Identify strengths, gaps, and concerns of an internal control environment.

III. Audit Planning

• Discuss the audit planning process.
• Identify IPPF guidance related to the planning phase of an audit.
• Assess the likelihood and impact of high-level inherent risks.
• Explain activities involved in planning audit projects.
• Discuss planning the audit approach.
• Assess roles in annual audit planning and audit project planning.
• Assess preliminary scope area.
• Discuss objectives and best practices for opening conferences.

IV. Interviewing

• Explain how interviewing is used within an audit.
• Describe the uses, objectives, and expected outcomes of interviews at each stage in the audit model.
• Discuss best practices for planning and conducting interviews.
• Identify best practices and opportunities for improvement in interviewing.
• Practice preparing for and conducting an interview.
• Prepare an interview based on a given scope-area objective.

V. Process Documentation

• Contrast a basic narrative and a flowchart
• Create a narrative or flowchart
• Discuss the advantages of some best practices for narratives and flowcharts
• Identify inconsistencies in flow charts and narratives Describe three types of walkthroughs.

VI. Audit Programs

• Describe the development and use of audit programs
• Classify inherent impacts and likelihoods for various types of risks.
• Classify controls as preventive or detective, and as automated or manual.
• Identify control points and possible control gaps or flowcharts.
• Complete a risk matrix
• Determine which controls are key controls, and whether they should be tested during an audit.
• Assess testing objectives
• Discuss tailoring audit programs
• Assess roles in the development of audit programs

VII. Automated Tools

• Discuss tools that automate the audit process.

VIII. Reporting

• Write an audit report using the five components.
• Recognize the components of an audit report.
• Determining the readers of audit reports.
• Assess the quality of an audit opinion.

IX. Selling the Results

• Discuss methodologies for “selling” audit findings to stakeholders.
• Describe factors that help “sell” audit findings and recommendations.
• Prepare for selling an audit finding.
• Identify best practices and opportunities for improvement in exit conferences.
• Describe activities involved in monitoring an audit.

X. Teamwork

• Explain how teamwork is essential to an audit project.
• Describe the value of various teamwork related factors.
• Examine how your own capabilities contribute to a team audit project.

TRAINER
Paul is one of the well-known young corporate advisors in the Country. He is presently the Head of Consultants of PAC® (established since 2009, investment consulting), the Chairman of PAUL|DK (established since 2011, rice export), and the General Director at the Cambodian Center for Public Policy (established since 2003, public policy think tank). In addition, he holds non-executive directorship in other companies. Paul M.T.Sak (ACCA Affiliate)-Academic and Professional Backgrounds:

1. Auditor in KPMG, nearly three years,
2. General Manager in a Korean CPA Firm, almost one year.
3. Non-executive Director, a member of the Board of Directors, of a Korean MNC, three years.
4. Head of Consultants of PAC®, above six years (ongoing).
5. Senior Finance & Tax Advisor to the Court Appointed Bankruptcy Administrator of Mfone’s Insolvency and Liquidation Proceeding (above $100M indebtedness), above two years (ongoing).
6. Superintendent Advisor to a Hong Kong based MNC with $1B investment, above seven months (ongoing).

TRAINING DETAILS

Course:            Beginning Auditor Tools and Techniques

Date:                21-22 & 28-29 November 2015 2015

Time:               Sat & Sun, Morning: 8:30AM-11:30AM; Afternoon: 1.30-4.30PM (24 hours)

Venue:             Financial Institute of Cambodia

Language:       English handout- Khmer presentation

Fee:                 US$ 150

Free:                Coffee break, Career services support, 70% discount any classes retake.

REGISTRATION
Financial Institute of Cambodia (FIC)
807 Preah Monivong Blvd., Phsar Derm Thkov, Chamkarmon, Phnom Penh, Cambodia
Tel: 023 726 642, H/P: 017 849 748 / 081 288 858
Email: info@fic.edu.kh       Website: www: www.fic.edu.kh