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Internal Audit and Control Workshop

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Lagos State, Nigeria

26 - 28 Oct, 2016  3 days

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NGN 115,500

This training course offers a thorough review of all aspects of Internal Audit, from the theoretical attribute and performance standards issued by the Institute of Internal Auditors (IIA) up to the implementation of these standards in the day-to-day operation of the internal audit Department.

Topics covered in detail, include the IIA standards required to be implemented; managing the internal audit function, risk assessment and evaluation of internal controls, design and testing their operating effectiveness. We will be covering details of the documentation process while conducting Internal Audit assignments, the various elements that need to be included in the working papers and how the findings being reflected in the audit report in addition to the distribution list of the audit report, will be covered.

The course also reviews important challenges that internal auditors face on daily basis including Fraud cases and Information Technology issues. The course further examines how to structure an Internal Audit Department and the various skills needed with the regular changes in the global business environment.

Workshop Schedule and Course Content

Day One

  • Opening and Introduction
  • Pre-course Assessment
  • Definition of Internal Control
  • Components of Internal Control
  • Effects of IT on internal Control
  • Risks associated with an entity’s Internal Control.
  • Planning an Internal Audit Strategy
  • Substantive Strategy
  • Reliance Strategy                                       
  • Understanding an entity’s Internal Control
  • The Control Environment
  • Risk Assessment Process.
  • Documenting and understanding Internal Control
  • Assessing the level of Control Risk
  • Tests of Control
  • Internal Audit definition
  • Understanding Audit Strategies
  • Self-assessment exercise

Day Two

  • Responsibility of the Internal Auditor
  • Fraud                                             
  • Types of Fraud
  • Red Flags
  • Internal Audit Report
  • IT and Internal Audit
  • IT Control
  • Internal Auditor Skills
  • Audit Committee
  • Flow Charting Techniques
  • Using Cross-word Puzzles in studying Internal Control
  • Auditing Internal Control over financial reporting in conjunction with an Audit of Financial Statements
  • Self-assessment exercise

Day Three

  • Understanding the auditor’s responsibilities for reporting on Internal Control under section 404 of the sarbares-Oxley Act
  • Management’s Documentation of Internal Control
  • Auditor’s Documentation Requirements
  • Special Considerations for an Audit of Internal Control
  • How to obtain Assurance on Controls
  • Computer Assisted Audit Techniques
  • Generalized Audit Software
  • Custom Audit Software
  • Test Data
  • Audit Sampling
  • An Application, Assurance, Attestation and Internal Auditing services
  • Types of Assurance Services
  • Types of Engagement Services
  • Attestation Standards compared to generally accepted     
  • Auditing Standards
  • Engagement Planning
  • Post-Course Evaluation
  • Teaching Methods
  • Live group instruction in a workshop format
  • Review all the IIA Standards and understand the principles
  • Extensive use of real-world samples, documents, case studies and exercises
  • High level of attention to individual participants
  • Interactive participation will be encouraged
  • All participants will receive a comprehensive binder containing copies of the presentation slides, handouts and other course material

Workshop Outcomes

On completion of the workshop, participants should

  • Gain in-depth knowledge of Internal Audit concepts
  • Learn the details of Internal Audit engagements
  • Understand the importance of Internal Audit in business organization.
  • Understand the application of Computer-Assisted Audit Techniques.
  • Be capable of documenting and understanding Internal Control
  • Be capable of assessing the level of Control Risk
  • Be capable of implementing the Tests of Control
  • Understand Audit Strategies
  • Understand engagement services and how to plan and manage them
  • Be capable of Auditing Internal Control over Financial Reporting
  • Be capable of documenting Internal Audit Processes
  • Be capable of implementing Computer Assisted Audit Techniques
  • Be capable of assessing generalized audit software
  • Be able to utilize custom Audit Software
  • Be capable of carrying out basic fraud examinations
  • Be  capable of defining fraud and identifying a potentially fraudulent extortion and more

Target Audience

  • Fresh internal auditors
  • Certified Internal Auditors that need a refreshing course
  • Those intending to working in internal audit
  • Personnel who need a better understanding of the internal audit roles
  • Accountants and other Financial Management Officers
6,Segun Gbele Close, Off Lola Holloway Street, Omole Phase 1, Ojodu-Ikeja, Lagos, Nigeria Oct 26 - 28 Oct, 2016
NGN 115,500.00(VAT Inclusive)
(Convert Currency)

08185131363, 08061277967,

PROFESSOR PENDER GBENEDIO (CEO/ CHIEF CONSULTANT SANDHILLS CONSULTING NIG. LTD). B.Sc. Accounting, Central State University, Wilberforce, Ohio USA; MBA and Ph.D. Accounting, University of Cincinnati Ohio USA; Doctoral Secondary Fields, Finance and Industrial Management. Worked as Financial Specialist at the Corporate Headquarters of the National Cash Register Company (NCR) in Dayton, Ohio USA. He was later appointed a Professor of Accounting and Chair of the Department of Accounting and Associate Dean of the Business School at North Carolina Central University, in Durham, North Carolina, USA; Campus Dean at Strayer University, Colombia Campus, South Carolina, USA. He has taught numerous courses, multiple times in Accounting, Finance and Industrial Management. He is also a visiting Professor at Covenant University (Sango Ota) teaching Ph. D and M.SC Environmental, International and Oil &Gas Accounting. His strengths are in Accounting, Finance, Industrial Management, Functional, Soft Skills and Leadership Courses.DR. FOLASHADE OGUNWALE: B.Sc., MBA Accounting, Doctoral Candidate. Has worked in Bison Ltd Consulting Firm and Intercontinental Bank, and lectures in Covenant University. She has diverse experience in Training and Consultation.DR. ESE URHIE: B.Sc, MBA Finance, M.Sc. Economics, Ph. D Economics Human Capital, Covenant University, Sango Ota, Nigeria. He is presently lecturing at Covenant University.UFOMA OMOSEBI: B.Sc Accounting Central State University, USA, MBA Management, MSc Accounting, University of Maryland, Washington DC; CFE (Certified Fraud Examiner). Worked at Anderson Consulting, USA as a recruiter. United States of America, Airforce Reserve