Instructor Profile

Assessing audit evidence is a crucial aspect of the auditing process that involves evaluating the information obtained during an audit to determine its reliability and relevance to the audit objectives. 

The quality of audit evidence is influenced by factors such as its source, nature, and reliability. By effectively assessing audit evidence, auditors can provide reasonable assurance to stakeholders that the financial statements are free from material misstatement and comply with relevant accounting standards and regulations.

Audit evidence is information that auditors gather through observing processes, interviewing people, examining records, and researching and benchmarking information. It should provide a factual basis for audit opinions and conclusions relative to the audit objectives.

This webinar will help you to understand what to look at and how much to assess to achieve the audit objectives.

Every internal audit engagement aims to assess the adequacy and effectiveness of key management controls in the area under review. In order to do that, the auditor has to decide what evidence to review and how much is needed to achieve the audit objectives. 

This Auditing Webinar will discuss the various types of evidence to be reviewed.

There is more than meets the eye when it comes to being an auditor-in-charge.

Leading an audit team not only requires a great deal of knowledge, it also requires dedication, efficiency, and effective leadership skills. Audit leaders today need to know how to run a team properly so that every project runs smoothly. In other words, they need the skills to lead with confidence because the Auditor-In-Charge (AIC) has a lot of responsibilities such as:

• They must provide directions to the audit team
• Assessing the quality of the work of the audit team
• Providing ongoing communication to audit management and audit clients
• Developing the draft report
• Preparing for the exit conference
• Assessing the performance of the audit team
   

All these functions have to be carried out in addition to nearly innumerable other minor activities. Since the AIC is the one finally responsible for the success or otherwise of an audit; everything depends on how efficiently, smartly and diligently the AIC carries out those functions.

Want to understand the ways by which this can be done effectively? Attend the webinar to get a proper understanding of the responsibilities of the AIC and the skills needed to execute them.

Fraud is a threat to every organization.

It can cost millions of dollars. And as an auditor, we have to constantly be on the lookout for it. Every major audit standard has some kind of fraud provisions that auditors are required to follow. You can’t get around it. It starts with the planning process and carries throughout the audit engagement. Every auditor should be familiar with the key fraud red flags and the major fraud schemes. 

The speaker in this webinar on fraud will discuss the various fraud schemes and the departments where they are likely to be found. 

Preparing for and conducting an audit are the initial components of the audit process; writing a good audit report is the final step. Communicating the results of an audit is just as important as performing it. However, auditors are often frustrated when their audit reports are not taken seriously or used effectively because they do not provide meaningful information.

How well you communicate that information is critical to getting management’s acceptance of your findings and their agreement with your recommendations.  
A well-written audit report adds value to your clients by providing information that is:

• Accurate
• Objective
• Clear
• Concise
• Constructive
• Complete
• Timely

In addition to audit reports, those same attributes can apply to all kinds of writings including:

• Executive summaries
• Fraud investigations
• Consulting reports
• Memos
• General correspondence

This webinar will provide the basic principles for writing effective audit observations. The audit observations represent the end result of weeks of reviews, analyses, interviews and discussions. It is used to provide important information to management on the area you reviewed. And, more importantly, it provides details to management on significant issues that need to be addressed. How well you communicate that information is critical to getting management’s acceptance of your findings and their agreement with your recommendations. And ultimately, this demonstrates the value you add to the company and enhances your chances for promotions and greater salary increases.

This webinar will provide the basic principles for writing effective audit observations. The audit observations represent the result of weeks of reviews, analyses, interviews, and discussions. It is used to provide important information to management on the area you reviewed. And, more importantly, it provides details to management on significant issues that need to be addressed. How well you communicate that information is critical to getting management’s acceptance of your findings and their agreement with your recommendations and ultimately, this demonstrates the value you add to the company and enhances your chances for promotions and greater salary increases.

The key to writing an effective audit observation is having a comprehensive structured process. The Institute of Internal Auditors recommends a process known as the 5Cs:

• Criteria
• Condition
• Cause
• Consequences (Effect)
• Corrective Action (Recommendation)

As you develop conclusions, findings, and recommendations, you must present them to your client in a logical, complete, and objective way. This process provides an easy way to consistently develop and present your observations. The components in this process include all the information you will need to inform and persuade. 

Developing this process can be an important tool for completing and reporting observations in a timely and comprehensive way. It allows you to present those findings to your reader in a logical, complete, and objective manner and, thus, enhances the chances of the client’s buy-in and their agreement to your recommendations.

This process can also serve as a basis for review by supervisors and managers. It is supported by your work papers and gives complete and clear details of your analysis and the basis for your findings.

This webinar will provide the basic principles for writing effective audit observations. The audit observations represent the result of weeks of reviews, analyses, interviews, and discussions. It is used to provide important information to management on the area you reviewed. And, more importantly, it provides details to management on significant issues that need to be addressed. How well you communicate that information is critical to getting management’s acceptance of your findings and their agreement with your recommendations and ultimately, this demonstrates the value you add to the company and enhances your chances for promotions and greater salary increases.

The key to writing an effective audit observation is having a comprehensive structured process. The Institute of Internal Auditors recommends a process known as the 5Cs:

• Criteria
• Condition
• Cause
• Consequences (Effect)
• Corrective Action (Recommendation)

As you develop conclusions, findings, and recommendations, you must present them to your client in a logical, complete, and objective way. This process provides an easy way to consistently develop and present your observations. The components in this process include all the information you will need to inform and persuade. 

Developing this process can be an important tool for completing and reporting observations in a timely and comprehensive way. It allows you to present those findings to your reader in a logical, complete, and objective manner and, thus, enhances the chances of the client’s buy-in and their agreement to your recommendations.

This process can also serve as a basis for review by supervisors and managers. It is supported by your work papers and gives complete and clear details of your analysis and the basis for your findings.