Tools and Techniques for Remote Auditing

Focus & Features

Most organizations are compelled to adapt quickly to new ways of doing things and Internal Auditors are making a leap to conduct audit remotely due to travel restrictions and social distancing caused by COVID-19 pandemic.

To become an effective internal auditor, a strong base-knowledge and an understanding of basic internal auditing skills are essential coupled with a good foundation of information and communication technology (ICT) used in remote auditing.

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 and developed skills in conducting remote audit.

Through team exercises, group discussions, case studies, and lectures, attendees will gain a foundation of knowledge that will allow them to properly prepare for and conduct a successful audit. A basic understanding of the roles of risks and internal controls in auditing will also be stressed, along with interpersonal and team-building skills.

What You Will Learn

Risk Assessment and Risk Management

• Risk Assessment Concepts and Terms and its application
• COSO ERM Framework
• Identify, measure and assess the likelihood and impact of risks
• Risk and control mapping

Introduction to Remote Auditing Concept

• Remote Auditing Concepts and Terms and its application
• Remote Audit Readiness
• Risks and Opportunities in using Information and Communication Technology (ICT) for Remote Audit
• Pre-planning activities

Interviewing

• Identify the components of interviews.
• Types of Interviews
• Stages of Interviews
• Tools used in Interviewing remotely
• Interviewing to identify risks
• Workshop: Practical application of interviewing remotely

Process Walkthrough and Documentation

• Identify the common forms used during process documentation.
• Basic Flowchart Shapes
• Key considerations in process walkthrough during remote audit
• Mapping of key processes with key controls and key risks
• Workshop: Practical application of conducting walkthrough remotely

Engagement Planning

• Identify the components of audit programs.
• Creating Audit Program
• Risk and Control Matrix
• Impact of Risk
• Key considerations in remote audit- risk and scope
• Key Control and Testing
• Testing Objectives
• Tailoring Audit Programs
• Workshop: Practical Application of Opening Meeting using virtual tools (Zoom, Skype, Webex)

Testing

• Identify the methods for obtaining and presenting audit evidence.
• Audit Model Performance
• Standards of Audit Evidence
• Analytical Procedures
• Evidence Gathering in Remote Audit scenario
• Sampling and Testing Terms and Approaches
• Documentation of Test Results
• Testing Workpaper Quality Checklist

Reporting

• Identify the process to report audit findings.
• The Audit Model
• Components of Audit Reporting
• Causes and Effects
• Sample Write- Up
• Audit Report Components
• Audit Observation
• Opinion and Conclusion
• Report Reader Assessment
• Audit Opinion
• Workshop: Audit Report Writing (review remotely)

Selling of the Results

• Identify the best practices for selling audit results to stakeholders.
• Audit Model – Communicating
• Selling Findings and Recommendation
• Best Practices for Exit Conferences
• Workshop: Practical Application of Closing Meeting using virtual tools (Zoom, Skype, Webex)
• Typical Wrap Up Activities