Understand the fundamentals of the internal audit function and recognize key risks when preparing for an internal audit.
An audit is time-consuming and stressful and can easily lead to negative consequences. A lack of understanding of how audits are structured and conducted hinders the process every step of the way. Although this course focuses on internal audits, or audits that an organization conducts upon itself, all audits are designed and performed in a similar manner. If you are the subject to an audit, this material will help you understand the process and will illustrate psychological techniques to thwart the auditors’ efforts every step of the way. If you are conducting the audit, this information will explain how not to get thrown off track by common tricks and traps. Whether you want to tank an audit or prevent it from getting derailed, this course provides unique insights you need to know before facing an audit.Learning Objectives
- You will be able to differentiate between various audit types.
- You will be able to identify the characteristics and fundamentals of the various audits.
- You will be able to identify the stages of the Control Framework.
- You will be able to recognize types of risk involved in an audit.
Agenda
Overview- Defining Audits, Including Expectations and Limitations
- Control Framework: A Great Guide to Get Started or to Hone Your Skills
- The IIA, Certification, Internal Audit Departments
- Planning
- Conducting
- Completion
- Risks
- Controls
- Other Key Audit Elements
- Overall Goals
- Evidence
- Additional Considerations
- Always Focus on Risks
- Audits: Sometimes a Necessary Evil, Sometimes to Be Loved
- Questions and Answers
Speaker(s)
Allen Pfeister, CPA, MBA, CIA, CMA, CFMTax Uncomplicated, LLC
- Tax consultant with Tax Uncomplicated, LLC, a boutique tax firm with a strong focus on international tax matters, offering expert services to Americans living abroad.
- Specializes in foreign business ownership, real estate investments, foreign pension participation, foreign trusts, and navigating treaty and totalization agreements
- Developed and taught the CPA preparation curriculum for Southern New Hampshire University’s South Korea campus
- Regularly hosts webinars on a wide array of tax topics for Americans abroad
- Certified Public Accountant, Certified Management Accountant, Certified Internal Auditor, and Certified Financial Manager
- M.B.A. Degree with a specialization in Dr. Philip Harmelink’s taxation program, University of New Orleans; bachelor’s degree in finance and accounting; completion of Dr. Glenn Sumner’s Internal Audit program, Louisiana State University
