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Management Concepts

Key to Audit Success: Focus on Objectives

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Next dates

Jul 25—26
2 days
Washington, District of Columbia, United States
USD 729
USD 364 per day
Nov 14—15
2 days
Washington, District of Columbia, United States
USD 729
USD 364 per day
Mar 16—17, 2020
2 days
Washington, District of Columbia, United States
USD 729
USD 364 per day
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Description

Successful performance audits establish precise objectives followed from investigation through the determination of corrective actions. You need to focus on these objectives throughout planning, field work, and reporting. You will gain an understanding of the importance of objectives to the audit process through a series of exercises and discussions.

Learning Objectives

  • Describe the effect that objectives have on findings and message formulation
  • Design a report to solve the problem of multiple audiences
  • Write objectives for process-oriented and results-oriented audits that identify performance aspects and finding elements to be developed
  • Develop a report outline
  • Organize a finding that answers the audit objectives using different outline methods and advance organizers such as captions and topicsentences
  • Apply general guidelines for selecting appropriate visual aids

Course Topics

What Are Audit Objectives?

  • Determining and Establishing Audit Objectives
  • Why Good Audit Objectives are Important
  • What Makes a Good Audit Objective?
  • How to Audit by Objectives
  • Performance Audits
  • Audit Types
  • Lesson Wrap-Up

Using Objectives During the Planning Process

  • Shaping the Audit with More Focus
  • Planning Audit Steps and Data around Objectives
  • Process versus Results-Oriented Findings
  • Lesson Wrap-Up

Focusing on Objectives During Audit Execution

  • Early Development of an Audit Report
  • Evidence Must Address the Audit Objectives
  • The Audit Planning, Field Work, and Report Relationship
  • Developing Elements of a Finding
  • Using Conferences to Manage Audit Report Preparation
  • The Finding Schematic: A Key Tool for Planning the Report Message
  • Lesson Wrap-Up

Focusing on Objectives in Writing the Report

  • Report Contents and Findings
  • Preparing a Report Outline
  • Providing Background and Supporting Context
  • Writing the Draft Report
  • Inductive versus Deductive Reports
  • Report Quality Elements
  • Providing Recommendations
  • Lesson Wrap-Up

Who should attend

The course is designed for auditors who need to know how to create effective audit objectives and how to use those objectives to plan and execute the audit as well as how to write the audit report. This course may be of interest to both auditors and auditees in both the public and private sectors.

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