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Audit Practices Workshop: A Primer

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Date(s): Jan 26, 2021 - Jan 29, 2021
Time: 8:00AM - 12:00PM
Registration Fee: $379.00
Cancellation Date: Jan 19, 2021
Location: Online

Course Description

The Audit Practices Workshop is a highly participative “how to“ course, loaded with tools and techniques auditors can apply immediately.  Participants will acquire knowledge and skills related to planning and conducting the audit, communication, interviewing, reporting results and selling ideas.  Learn how to build fraud detection into routine audits, the risks associated with contracting, and practical data analysis applications.

 


Potential CPE Credits: 16.0
Govt Hours: This class meets 16.0 hours of the 24-hour requirement for governmental CPE under Government Auditing Standards (yellow book), in most cases.
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: BEGINNING
Category: 02 Auditing

Course Objectives

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

·         Define and apply effective audit practices in their current environment.

·         Conduct audits that make a difference.

·         Deal with obstacles and barriers to effective auditing.

·         Maintain emotional control in difficult situations.

·         Use specific thinking and problem solving tools and techniques.

·         Plan audits and better manage audit projects.

·         Use data analysis to identify outliers and patterns worth looking into.

·         Address challenges of fraud detection and response.

·         Discuss practical approaches auditors use to add value through contract auditing

·         Sell audit and control ideas to others.

·         Interact more effectively with executive management and the audit committee.

 

Audit Purpose and Processes

  • Challenges in the current government audit environment
  • The varied roles of government auditors
  • Best and worst audit practices
  • Defining expectations for the audit committee, executives and yourself
  • Getting executive buy in

 

Enhancing Audit Effectiveness through Behavior & Communication Skills

  • Dealing with difficult situations and people
  • More effective listening, speaking & nonverbal communication
  • Tips and techniques for more effective thinking

 

Deciding What to Audit

  • A practical approach to risk
  • Developing your audit plan
  • Defining success

 

Understanding Internal Controls

  • Why internal controls break down
  • Erosion of controls
  • Tools and techniques to enhance controls

 

Conducting the Audit

  • Planning the audit
  • More effective project control
  • Using data analysis
  • A model for effective interviews
  • Questioning and eliciting information
  • Developing audit findings
  • Improving report writing – behavioral implications

 

Addressing the Challenges of Fraud & Contract Auditing

  • Defining expectations and fraud policy
  • Fraud detection in audit and management practices
  • Practical fraud prevention
  • Values derived from auditing contracts and contractors
  • Obstacles and how to overcome them
  • Addressing corruption, kickbacks and bid rigging

 

How to Sell Audit Results and Recommendations

  • Recognizing barriers to acceptance of recommendations
  • The selling process
  • Effective approaches to selling ideas
  • Do’s and don’ts of dealing with management and the audit committee

 


Prerequisites

No prerequisites required.

Government Hours: 4.23(q)


Instructors

Courtenay Thompson

Courtenay Thompson is a recognized authority on training managers, auditors and investigators in fraud-related matters.  He has designed and presented courses on fraud prevention, detection and investigation for business and government organizations worldwide.  His courses are known for providing practical, proven approaches to real problems.  These practical approaches have yielded dramatic results for class attendees.

In addition to fraud-related programs, Mr. Thompson provides training on audit interviewing, improving personal and professional effectiveness, behavior and communication skills, leadership and auditing contracts.  For 13 years, Mr. Thompson was editor of "Fraud Findings" in The Internal Auditor magazine.

Prior to entering the consulting field, Mr. Thompson's experience in public accounting and internal auditing provided exposure to a number of types of impropriety including embezzlement, insurance fraud, loan fraud, stock fraud, kickbacks and bribery, misappropriation of funds and mail fraud.  In additional to personally detecting and investigating suspected fraud cases, he established corporate policies for fraud and trained other auditors in fraud detection and investigation.  Responsibilities included working with top management and reporting to the audit committee on the status of open cases.  He has worked closely with legal counsel, law enforcement and prosecutors.

Courtenay Thompson received his BBA and MBA degrees from Southern Methodist University and is a Certified Public Accountant.  He is a member of The Institute of Internal Auditors, Inc.

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.


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