The most important tools of Internal Audit

Subject: ‘The most important tools of Internal Audit’
Date: Thursday, 18 January 2024
Time: 9:00 to 12:00
Venue: ONLINE via ZOOM
Language: English
CPE Points (Continuous Professional Education): 3 CPEs
Instructors: Claire Worledge (CIA, CFE, CISA)
Outline: Seminar Outline
Registration Form: Seminar Participation

Training objectives

  1. 09-10: Understand the opportunities that are offered by data analytics to the auditor:
    1. Difference between random sampling and power sampling
    2. KPIs of the entire business process
    3. Risk profiling
    4. Analysis of trends and indicators for audit planning
    5. Automation of internal audit tasks
    6. Directive approach for junior audit teams
  2. 10:00-10:30: Become aware of the different types of tools that auditors can use to do data analytics:
    1. Data mining,
    2. Data visualization,
    3. Artificial Intelligence for learning, modelling, predicting
    4. Generative Artificial Intelligence for automated creation of python code and data visualizations
  3. 10:30-10:45 – Virtual coffee break
  4. 10:45- 11:00: Understand how to set-up a budget and business case for the introduction of data analytics into the audit function, analysis of an example budget
  5. 11:00 – 11:45: Understand the challenges for using data analytics:
    1. Human resources challenges and training needs
    2. Data Analytics Framework for integrating data analytics into the audit
    3. Managing expectations and getting passed Change Management issues
  6. 11:45 – 12:00: Question time