Basic Audit Concepts / Introduction to Auditing & Audit Execution

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Business Management

The process by which an individual determines direction, influences a group, and directs the group toward a specific goal or mission.

OrientMCT
Basic Audit Concepts / Introduction to Auditing & Audit Execution

Course Outline

To have a general awareness / understanding of foundational internal audit concepts and their applicability to internal auditing. Specifying on;

To be aware of how to complete audit working papers and files
Understand the business under review including reports, documentation and financial data etc.
Documentation of objectives and SOW and communication to Auditee.
Develop audit program to achieve the objectives and covering the SOW.
Open and structure working papers/files.
Compare evidence with controls or criteria expected, identifying gaps or opportunities for improvements, discussing with Client.
Entering final reports into the database with due dates for action plans.
Checking implementation of action items on due dates using database and update of database with revisions including external audit.
Communicating audit follow-up to all stakeholders.
Share/discuss audit findings with client (closing meeting) and agrees action plans
Communicating audit results and audit opinion to all stakeholders.

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