Course Information
Auditing Virtually: Essential Tools & Techniques
Course Description
In Sci-fi, 2021 is the coming of Mad Max and the Thunderdome, so maybe that’s the silver lining of so many still working remotely. Auditing remotely is difficult, but it is still possible. And now it is a requirement, yet many still are unsure of how to proceed. To audit virtually we must understand the challenges associated with auditing remotely and how to overcome them. This session we will look at approaches, methodologies, techniques, and tools to use when auditing remotely to overcome those challenges.
Course Objectives
Upon completion of this course, participants will be able to:
UNDERSTAND the importance of technology … and empathy
LEARN how to overcome the inability to meet in-person
IDENTIFY what audit should focus on when auditing virtually
LEARN How to plan for a remote audit
Course Outline
Risk Assessments
· Revisiting existing risk assessments after change
· Business changes
· Emerging risks
· Areas of concern – Productivity | Revenue | Costs | User Access | Reputation | Leakage | Segregation of Duties | Accounting
Risk Hypothesis and Prioritization
· Risk identification and analysis
· Failure Mode Effects Analysis (FMEA)
· Pareto
· RACI Matrix
Engagement Planning
· Agile Auditing
· Planning and coordinating approach with client
· Communication plans
· Helping client with transition
Client Relations
· Empathy
· Home office risks
· Managing expectations
· Transparency, remotely
Technology & Information Gathering
· Remote auditing basic technology
· Remote auditing advanced technology approaches
· Technology challenges
· Electronic documentation
· Understanding Metadata
Executing the Audit
· Anticipating and dealing with misunderstandings
· Managing status updates and document requests
· Auditing remotely as a team
· Collaborating with the client
Communicating Results
· Rethinking reporting – Agile reporting
· Executive priorities
· Visualization
Prerequisites
No Prerequisites Required.
Instructors
Bret Kobel is Managing Partner for Verracy Training & Consulting and has more than 20 years of professional finance, accounting, audit, risk and compliance experience. Mr. Kobel specializes in internal controls, process improvement, process transformation & implementation with organizations operating under GAAP and/or IFRS Standards. He brings a diverse background to the organization from venture-backed startups to global Fortune 500 companies.
Prior to joining Empower, Mr. Kobel spent two years on assignment in Singapore as the Regional CFO and Controller for an international logistics company responsible for seven countries in the Asia Pacific region. Mr. Kobel was tasked with transforming the financial organization and redesigning the financial processes to ensure timely and accurate financial reporting.
Prior to that, Mr. Kobel spent several years with a large international drilling services company operating in over 40 countries on six continents. He was responsible for developing the company’s initial policies and procedures and implementing the baseline internal controls framework for the company as well as the initial Enterprise Risk Management (ERM) program. Mr. Kobel later led global Internal Audit teams performing the first ever internal audits in the company’s 120-year history.
Earlier in Mr. Kobel’s career, he was part of a team that interpreted the newly released 1992 COSO Internal Control – Integrated Framework that worked to define a set of policies and procedures for one of the largest university systems in the nation and later led teams conducting the initial internal audits for the newly-implemented procedures.
Mr. Kobel received his BS degree from Indiana University and his MBA from The University of Texas at Austin. He is a member of the Institute of Internal Auditors (IIA) and the Association of Certified Fraud Examiners (ACFE) and is currently an instructor and conference speaker for the IIA and ISACA.
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. To see answers to our Frequently Asked Questions, visit http://www.sao.texas.gov/training/faq.html. |