CATEGORY TYPE: Quality & Auditing

COURSE NAME:Operational Audit


UPCOMING EVENTS


START DATE END DATE CITY/COUNTRY PRICE Request
This course can be scheduled at your convenience, to request this course please click here
INTRODUCTION:

Internal auditors are expected to determine the reliability of financial and operational reporting; assess the economy, efficiency and effectiveness of operations; and verify that the organization's assets are being properly used and safeguarded. In today’s business environment, an ever-demanding board counts on IA to verify that internal controls are operating as intended and to determine if processes are efficient and support organizational objectives. All of these expectations point to the need for internal auditors to perform high-quality operational reviews

OBJECTIVES:

In this pragmatic three-day seminar you will learn the fundamentals of operational auditing, including the key requirements you must meet to conduct an effective operational review. You will gain an understanding of management practices and discover how to determine if they help or hinder the achievement of the organization’s objectives. You will identify conditions that reduce cycle time and create waste. You also will find out how you can leverage the COSO framework, Six Sigma, CAATs Balanced Scorecard, and other business tools to better understand operating areas, plus master techniques for quantifying the value of your recommendations, and cover ways to enhance your audit process, accelerate the identification of issues, and provide more timely feedback to management. Throughout the seminar you will work through exercises and apply the skills you learn here to audits of key functional areas.

OUTLINE:

 

Terminology and Key Concepts

  • changing roles and responsibilities of internal auditors
  • the link between financial, compliance, and operational audits
  • incorporating operational risks into Internal Audit’s risk-based auditing approach
  • evaluating the effectiveness and efficiency of operations

 

The Operational Audit

  • planning and performing operational audits: the essential elements
  • identifying, measuring, and assessing operational objectives
  • operational procedures and management’s response to deviations
  • evaluating the tools management uses to set and monitor organizational goals
  • quality and performance improvement methodologies
  • developing and using metrics to monitor performance and risks
  • key operational audit tools

Payroll

  • identifying the risks in the payroll function
  • objectives, controls, procedures, and personnel
  • payroll fraud schemes
  • evaluating improvement opportunities

 

Production

  • auditing production risks
  • key elements of the production process: labor, materials, equipment, facilities, and costs
  • production methodologies
  • identifying key cost drivers to protect bottom-line results
  • adapting production concepts to service-based organizations

 

Project Management

  • auditing high-risk/high-impact projects within the organization
  • common project management problem areas
  • performing project risk assessments
  • examining the project life-cycle
  • IT projects and the system development life cycle
WHO SHOULD ATTEND:

• Anyone seeking to understand an operational audit.• Executives desiring to learn more about operational audit or who are exploring a transition to operational or integrated auditing.• Auditors in transition from financial and compliance based audits to operational auditing.• Auditors currently performing operational audits seeking to gain tips and tools to complete efficient and effective operational audits

DURATION:
    • 5 Day(s)
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    Sabic

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    Sabic

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    Sabic

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    Sabic

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    Mobily

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    General Authority of Civil Aviation (GACA)

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    Sabic

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    Sabic

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    Al-Suwadi Services

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    Coldstorec Group Of Saudi Arabia

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    Saudi Aramco

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    Al-Suwadi Services

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    Al Khodari Company

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    Al Khodari Company

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    Al Khodari Company

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    Al Khodari Company