Course Information
Managing a Successful Audit
Parking for SAO, Professional Development courses is in Garage B (1511 San Jacinto Blvd.). The Garage signage may read 1511 San Jacinto or Garage B. The elevator in Garage B is not reliable. If you are unable to walk the stairs, please contact the professionaldevelopment@sao.texas.gov for alternate parking arrangements. Handicapped parking is free at the meters around the downtown area.
A course coordinator will Email you a parking permit prior to the course start date. A permit must be displayed or you will be ticketed.
Course Description
How to effectively plan and manage an audit engagement from planning to reporting and all the points in between.
No two audits are the same, so applying an objectives-based focus, together with an approach that includes the essential pieces necessary in every audit, helps greatly in achieving a consistent record of successful and value added audits. Over 25 years of conducting audits on a multitude of organizations of every size and scope has allowed for the refinement of a practical approach applicable to every audit.
This course will provide an approach and tools necessary for effective auditing.
Course Objectives
Upon completion of this course, participants will be able to:
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Effectively plan and manage any audit engagement
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Understand the essential requirements of the audit
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Communicate effectively by anticipating the overall audit requirements from the beginning
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Understand fieldwork methodologies
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Understand effective reporting and follow-up after the audit is complete
1. Planning the audit
a. Early and ongoing communication with the client
i. Timing and scope of the audit
ii. Determine and schedule necessary resources
iii. Anticipated deliverables
1. Auditor
2. Client
iv. Administrative
1. Tracking outstanding records requests
2. Status reports and meetings
v. Reporting requirements
b. Determine preliminary scope and objectives
c. Perform planning procedures
i. Obtain and review client documentation
ii. Interview key personnel
d. Refine audit scope and objectives
e. Develop detailed work plan
f. Prepare Planning Memorandum and budget
2. Conducting fieldwork
a. Data analysis
b. Walkthroughs and tests of controls
c. Substantive sample testing
3. Communicate preliminary results
4. Reporting
a. Draft to management of area audited
i. Update for any errors or new information
b. Final to upper management and the Board
5. Tracking mitigation of issues and follow-up audit
Instructors
James Menck has more than 25 years of industry experience with ten of those years at a big four accounting firm. He was a regulator with the Texas Department of Insurance and served as Internal Audit director of a national health insurance company, including leading Sarbanes-Oxley controls testing and reporting.
James frequently speaks on regulatory topics, Internal Audit, internal controls and other compliance areas. He holds BBA in Accounting from Texas State University, San Marcos. James is a Certified Public Accountant, Certified Internal Auditor and Certified Fraud Examiner.
Additional Information
TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.
If you are making travel plans to come to Austin, we recommend making "refundable" air and hotel reservations or waiting until 14 days before the class to actually book your reservations. Courses are occasionally canceled or rescheduled due to low enrollment. We determine whether a course has enough participants 16 days prior to the course date. If we cancel or reschedule, we will email the participant and his or her billing contact no later than 14 days before the original class date.
The course coordinator will contact you with parking information. Handicapped parking is free at the meters around the downtown area.
Vending machines with Coca-Cola products and various snack items are available. There is also a refrigerator and microwave in our coffee bar area. Feel free to bring in your own drinks and food if you prefer.
You might want to bring a light sweater or jacket, as room temperatures vary.
To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html.