Target Competencies (Behavior / Technical):

Behavior:

• Critical thinking and problem-solving skills
• Analytical and interpretation skills
• Effective communication (written and oral)
• Professional judgment and skepticism
• Collaboration and teamwork skills

Technical:

• Understanding of International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP)
• Knowledge of internal control frameworks (COSO)
• Proficiency in data analysis tools and audit software
• Risk assessment and mitigation strategies

Course Objectives:

• Identify and apply modern auditing techniques and financial control practices within an organization.
• Evaluate internal control systems and assess their effectiveness in mitigating financial risks.
• Utilize data analysis tools and software for efficient and effective auditing procedures.
• Develop a holistic understanding of financial reporting and its role in financial control.
• Gain insights into risk management frameworks and their integration with auditing and financial control.

Learning Outcomes:
Upon successful completion of this course, participants will be able to:

• Critically analyze and interpret financial statements.
• Apply various auditing methodologies, including continuous auditing and continuous monitoring.
• Design and implement effective internal controls for key financial processes.
• Utilize Computer Assisted Audit Techniques (CAATs) to analyze large data sets and identify anomalies.
• Evaluate the effectiveness of risk management strategies and their alignment with financial control objectives.
• Communicate audit findings and recommendations to stakeholders effectively.

• Internal auditors
• Financial analysts
• Accountants
• Financial managers
• Operations managers
• Non-financial professionals seeking a deeper understanding of financial control

Day 1: Introduction to Modern Auditing and Financial Control

• Evolution of Auditing Techniques
• The Importance of Financial Control in Today's Business Environment
• Internal Control Frameworks (COSO Framework)
• Risk Management and its Integration with Audit and Control
• Types of Audits (External, Internal, Continuous)

Day 2: Advanced Techniques in Auditing

• Computer Assisted Audit Techniques (CAATs) & Audit Software
• Data Analytics in Auditing (Big Data, Data Mining)
• Continuous Auditing and Continuous Monitoring
• Analytical Procedures and Ratio Analysis for Fraud Detection
• Testing Internal Controls: Substantive & Compliance Testing

Day 3: Financial Statement Analysis and Interpretation

• Understanding the Financial Statements (Balance Sheet, Income Statement, Cash Flow Statement)
• Financial Ratio Analysis and Industry Benchmarks
• Identifying Red Flags and Potential Financial Misstatements
• Audit Evidence and Substantive Procedures
• Techniques for Inventory and Fixed Asset Verification

Day 4: Cost Management and Budgeting for Control

• Cost Accounting Techniques (Absorption Costing, Marginal Costing)
• Contribution Margin Analysis and Break-Even Point
• Budgeting and Forecasting Techniques for Financial Control
• Variance Analysis and Identifying Cost Control Opportunities
• Performance Management and Control Systems

Day 5: Communication and Reporting in Auditing

• Audit Documentation and Working Papers
• Writing Effective Audit Reports
• Communicating Audit Findings and Recommendations to Management and Stakeholders
• Best Practices for Effective Internal Audit Communication
• Professional Ethics and Responsibilities in Auditing

BTS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.