What You Will Learn:

1. Why Traditional Audit Planning Doesn’t Work
 - Definition of a failed audit
 - Conditions that contribute to an audit’s failure
 - Role of management in the development of an audit
 - Role and responsibilities of the in-charge
 - Key aspects for performing the audit
 - The process – how do I begin

2. What you need for a Successful Audit
 - Elements that guarantee success
 - Steps you need to take for a successful audit
 - Critical aspects of the audit that influence the outcome
 - Components that enable a productive audit

3. Effectively Planning the Audit
 - Why this is critical and what traditionally happens
 - Resources you need and how to obtain them
 - Planning at the audit/micro level
 - Importance of Brainstorming
 - Using planning results to develop the Objective and Scope

4. Developing the Objective and Scope
 - Understanding the reason for the audit
 - Defining the Audit Objective
 - Setting the Scope
 - Setting time frames
 - Establishing reasonable goals and deliverables

5. Why Communication is Critical to Success
 - The essential key to a winning audit
 - Working with difficult personalities
 - Need for open discussion

6. What You Need to Know
 - How much background do you need
 - Background sources you may not have thought of
 - Impact of the “knowns “ and “unknowns”
 - The “unknown unknowns”

7. Identifying and Addressing Significant Risks
 - Defining the Risk
 - Relationship of Risk to Objective and Scope
 - Sources of Information to help evaluate real risk
 - What is typically missed
 - The last thing we want to happen

8. Evaluating the Adequacy of the Control Structure
 - Relationship between Control and Risk
 - Utilizing COSO and COSO-ERM

9. Focusing the Audit
 - Where it all comes together
 - Getting the “buy-in”
 - Establishing the Time Frames

10. Tools to Insure Your Staff are Effectively Utilized
 - Assessment of your staff and their talents
 - Assignment of audit areas and setting time budgets
 - Oversight of work product
 - Ideas to maximize available time

11. Efficiencies and Time Wasters
 - Wise use of Administrative Time
 - Use of Meetings
 - Utilizing Quick Impact Tools

12. Managing the Audit
 - Day to Day
 - Delegating

13. Ideas to Expedite the Report Process
 - Why Reports Take so long to Finalize
 - Ideas to Optimize the process
 - Delivering an on-time product