What You Will Learn

1. Process Flow Auditing: Primary Function

2. Understanding the Business
- primary interdependencies
- core structure analysis and why it is important
- understanding the structure: Sarbanes-Oxley and COSO-ERM analysis

3. Tools, Techniques, and Approaches for  Maximizing Efficiency
- traditional tools and techniques: are they applicable to process-based  auditing
- one-on-one interviewing
- narratives
- flowcharting
- group-based audit methodology
- top-down flowchart
- data flow diagrams
- cause-and-effect diagrams
- generalized audit software

4. Risk-Intense/Value-Added Processes
- focusing on business risks
- identifying key processes and what makes them critical
- using data to determine risk
- using risk to establish primary control points
- maximizing returns

5. Applying PFA to Operational Areas
- key operational areas, how they link to primary financial processes, and the  relationship to Sarbanes-Oxley
- correlating costs to risk assessment
- process chains: what the auditor needs to know
- identifying key performance indicators
- operational risks in the context of your business
- creating ongoing management oversight vs. crisis management
- linking operations to the corporate strategic mission
- critical questions to ask process owners in order to evaluate risk oversight  effectiveness

6. Applying PFA to IS/IT
- identifying the organization's core systems
- five critical risk/control zones
- impact of IS/IT on the primary business operations
- understanding data flow
- relating systems to the process flow review
- key risk points and challenges surrounding IS/IT

7. PFA Case Study

8. IA's Role and Identity