How to prepare an Effective Audit Manual for an Internal Audit Department
Speaker: Marna Steuart
Speaker Designation: Accounting and Finance Expert
Speaker: Marna Steuart
Speaker Designation: Accounting and Finance Expert
An audit manual plays a crucial role in documenting and guiding the steps during an audit, ensuring adherence to the internal audit standards set forth by the Institute of Internal Auditors (IIA). To create a highly effective audit manual for an internal audit department, a well-structured strategy and systematic approach are essential. These measures guarantee the successful execution of audits, consulting engagements, or internal confidential investigations.
There are several areas that can be covered in an audit manual, including:
• Engagement letters
• Planning documents
• Effective audit programs
• Progress update templates, and
• Final reports
This course will touch on all areas of an audit manual and how to present it in the case of an internal audit, a consulting engagement, or an internal confidential investigation.
The presence of an effective audit manual can make a significant difference, enabling your audit department to conduct successful audits, consulting engagements, and internal confidential investigations with proper guidance. Taking a proactive approach to creating such a manual can lead to cost savings by eliminating the need for expensive training and offer invaluable reassurance to Management that auditors are adhering to the Institute of Internal Auditors (IIA) standards.
In this course, you will gain a fundamental understanding of the essential elements to include in a comprehensive audit manual. You'll also learn various approaches to present different types of audits in accordance with the standards. Additionally, the course covers planning, executing, and reporting the results of internal audits, consulting engagements, and confidential investigations. Templates will be provided as examples for each step of the audit process.
To understand how to develop an internal audit manual and start-to-finish instructions and templates on how to perform different types of audits given the project description.
Marna Steuart has been in the audit industry for over twenty years. Ms. Steuart began her career with a Big Four firm as an external auditor, then as an internal auditor in several different capacities within several different industries.
Ms. Steuart obtained her Certified Fraud Examiner license in 2007 and was the main fraud investigator for five years at a large utility company. She was responsible for performing and updating the fraud risk assessment on an annual basis and conducting over fifty internal fraud investigations during her time at this organization.