Course Outline

Module 1: Strategic Audit Planning and Risk-Based Auditing

• Strategic alignment of audit functions

• Risk assessment and audit universe development

• Prioritizing audits based on organizational risk profile

• STP Application: Segmentation of audits by business unit; Targeting high-risk areas; Positioning audit plans for strategic impact

• Case Study: Developing a risk-based audit plan for a multinational company

Module 2: Internal Control Evaluation and Regulatory Compliance

• COSO and COBIT frameworks

• Testing and evaluating internal control effectiveness

• Ensuring compliance with international regulations (IFRS, SOX, Basel III)

• Case Study: Audit review of internal controls and compliance gaps in a financial institution

Module 3: Advanced Audit Techniques and Data Analytics

• Use of data analytics tools in audits (ACL, IDEA, Power BI)

• Continuous auditing and monitoring

• Technology-driven audits and automation

• STP Application: Segment audit data sources; Target high-risk transactions; Position analytics as a continuous monitoring tool

• Real-Life Project: Performing a data-driven audit using sample datasets

Module 4: Fraud Risk Management and Investigative Auditing

• Fraud risk indicators and red flags

• Forensic auditing procedures

• Interviewing techniques and documentation

• Reporting fraud findings

• Case Study: Conducting an investigative audit in response to whistleblower allegations

Module 5: Reporting, Communication, and Audit Leadership

• Drafting effective audit reports and recommendations

• Communicating with the audit committee and senior management

• Building leadership in audit teams

• Driving change through audit insights

• STP Application: Segment stakeholders by influence; Target reports for key decision-makers; Position the audit function as a strategic advisor

• Capstone Project: Preparing and presenting a full-cycle advanced audit report to a simulated audit committee