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Auditor-in-Charge Skills Development

Date(s): Feb 03, 2020 - Feb 04, 2020
Time: 8:15AM - 4:30PM
Registration Fee: $399.00
Cancellation Date: Jan 27, 2020
Location: JOHN M. KEEL LEARNING CENTER
City: Austin
Parking Info:

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

The role of Auditor-in-Charge is a significant change from the role of staff auditor. Having the right knowledge, tools, and techniques can make the difference between a smooth transition and a painful one for everyone involved. This course will lay out the knowledge and skills necessary to make a successful leap to the role of Auditor-in-Charge through an integrated approach of lecture, group exercise, real-life case studies, and discussion. Participants will be introduced to the IPPF standards and each phase of the audit—from planning to wrap-up—will entail learning proven techniques for success.

The course will focus on delivering a quality product for the organization while ensuring productive relationships with clients and meeting on-time, on-budget audit goals.


Potential CPE Credits: 16.0
Technical Hours: This class meets 16.0 CPE credits of technical training in compliance with Texas Admin. Code Rule 523.102.

Instruction Type: Live
Experience Level: INTERMEDIATE
Category: Auditing

Course Objectives

Upon completion of this course, participants will be able to:

• Understanding how to effectively plan and prepare for an audit

• Learning how to keep the audit in scope and on time

• Learning how to effectively manage client relationships

• Understanding how to develop an effective risk-based audit plan

• Learning proper and effective methodologies for prioritizing risks and the audit plan

• Learning effective supervision methods for the field work

 

 

This course will cover:

 

IPPF for the Auditor-in-Charge

• IPPF standards for the role of the Auditor-in-Charge

• Applying the IPPF standards to the Auditor-in-Charge role

 

Auditor-in-Charge: What It Means

• What qualities are required to be effective as the Auditor-in-Charge?

• What has changed? (Going from staff auditor to Auditor-in-Charge)

• Expectations and responsibilities for an Auditor-in-Charge

• Identifying leadership qualities desired in an Auditor-in-Charge

• Knowledge and skills required for an Auditor-in-Charge

 

Planning the Audit

• Planning an audit as the Auditor-in-Charge

• Understanding the IPPF audit planning standards

• Understanding the importance of audit planning

• Identifying and fully understanding what is included in the planning phase

• Effective planning tools, techniques, and methods

• Leveraging data analytics in planning—potential uses and areas

• Understanding the responsibilities of auditors for fraud prevention and detection and control environment elements.

• Identifying the general and application controls reviewed in an audit

 

Audit Programs and Staffing

• Developing the audit program and allocating resources

• Linking business objectives to risks to audit objectives to test plans—closing the loop

• Ensuring the audit program is clearly laid out and objectives are understood by audit staff

• Prioritizing the audit program, steps, and sequencing of the audit program

• Utilizing test sequencing in planning to reduce intrusion on business—building better relationships!

• How to assign roles and responsibilities for the audit team

 

Audit Supervision and Project Management

• Keeping the audit on-time and within budget

• Preventing scope creep—how, and what to do when it happens anyway

• Dealing with changes during the audit—including scope creep

o Changes in risk assessment

o Changes in staffing

• Managing the audit as a project—using proven project management skills in audit

• Describe the methods Auditors-in-Charge can use to maintain effective control over audits

• Strategies for resolving conflicts—with client and within team

• Making decisions as the Auditor-in-Charge

 

Reviewing Workpapers

• Reviewing workpapers for completion of audit steps and proper format

• Understanding the IPPF standards for reviewing workpapers

• Why review? (Understanding objectives for workpaper review)

• Quality Control and ensuring audit objectives are met

 

Close-Out and the Exit Conference

• Conducting an effective exit conference based on tips for success

• Describing roles and responsibilities for the exit conference

• Identifying the functions of the exit conference

• Describing elements for consideration during planning for an exit conference

• Planning an exit conference

• Evaluating the success of an exit conference

 

Reporting and THE AUDIT REPORT

• Knowing your audience

• Setting objectives for the report

• Planning the report

• The 5 Cs and ensuring the team uses them for every finding

• Visual reporting to ensure the message is quickly received and understood

 

Wrapping up the Audit

• Feedback from the client—surveys, questionnaires, etc.

• Establishing follow-up requirements for the audit conclusions

• Staff performance appraisals

 

Appraising Staff Performance

• Conducting performance appraisals

• IPPF performance appraisal standards

• What should be considered? Factors that influence performance appraisals

• Writing up the appraisal

 


Instructors

Michael Fucilli

C.I.A. QIAL, CRMA, CGAP, CFE

 

Auditor General – Metropolitan Transportation Authority

Responsible for the internal audit function for a company with an operating budget of over $15 billion and a capital program of $5 billion. Monitor budget of $10 million with a staff of 102 professionals. Responsibilities include providing audit coverage for MTA HQ and its’ Agencies consisting of NYC Transit, Long Island Railroad, Metro North, Bridges and Tunnels and MTA Bus, MTA Capital Corp. Develop a comprehensive risk based audit plan approach. Established internal Integrity Monitoring Audit Section, approved by the Federal Transportation Authority for Superstorm Sandy Federal Funds of over $4 Billion. Performed key consulting type engagements that included the development process of the MTA All Agency budget that totals more than $20 billion, establishment of quarterly financial statements and creation of the Business Service Center. Extensive knowledge of Sarbanes Oxley requirements and led numerous internal control assessment reviews. Identified savings of over $100 million annually. Conducted numerous quality assurance reviews of major transit properties in the U.S. Member MTA’s Executive Team. Report directly to the Chairman and Audit Committee of the MTA’s Board of Directors. Frequent speaker at auditing events on key current topics.

 


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.