Planning Internal Audit Engagements
The objective of this workshop was to help participants better understand the planning phase of internal audit, and share the best standards and practices in planning.
What it was about
To provide meaningful audit recommendations, planning internal audit engagements represents an important part which influences the entire audit performance process. From analyzing the audited area to the audit engagement plan and work program, there are steps that each auditor needs to carry out. We looked into the planning phase of internal auditing.
At the workshop we discussed the following topics:
- International audit standards and their implementation (focus on IIA Performance Standards 2200 to 2240)
- Internal control frameworks
- Evaluating the risk including the risk of fraud and IT risks
- How to prepare a high quality engagement audit plan and work program
- Introduction to (statistical) sampling
What were the benefits
The following were the learning objectives:
- Use international standards pertaining to planning internal audit engagements
- Outline the planning process in relation to the field work and reporting phase
- Use risk assessment and internal audit frameworks in planning process
- Understand that the timing and nature of the audit procedures depends on the level of internal control
- Understand the difference between compliance and substantive testing
- Understand when to use which type of sampling
- Understand the difference between general IT controls and application controls
- Outline the responsibilities of auditor for fraud
- Prepare an audit engagement plan and audit program
- Decide how to react if the plan needs to be changed during engagement.
Who was it for
The workshop brought together junior internal auditors from SEE to learn about the fundamentals of planning engagements in line with internationally accepted internal auditing standards.
The workshop was highly participatory. Participants had the opportunity to share experience and knowledge.
The workshop was delivered in ENGLISH only.
Dirk Knol RA MGA (1956) is a Dutch CPA who obtained his experience by working in the public and private sector organizations. As audit manager, Dirk is currently responsible for the audit of Excises, European funds and various agencies. He cooperates also with the Dutch National Academy for Finance and Economics. Since 2002, he has been involved in (twinning) projects in various Eastern European countries.
Harry van Lankveld
Harry van Lankveld RE RA (1957) is a Dutch CPA who obtained his experience by working in the public sector organizations. At this moment Mr. Van Lankveld is Deputy Concern Security Officer at the Tax & Customs Administration of the Netherlands, and an expert member of the Global Forum (OECD). In the past, he was one of the directors of the Audit Service Finance. He cooperates also with the Dutch National Academy for Finance and Economics and is involved in (twinning) projects in various Eastern European countries.
Polona Pergar Guzaj
Polona Pergar Guzaj (1971) has extensive experience in internal audit. She holds many international certificates in the area of internal audit (CIA, CFSA, CRMA) and fraud examination (CFE). She is the president of IIA Slovenia and member of the supervisory board of ACFE Slovenia. As the owner and principal of 4E, she performs internal audit services in public and private sector, helping internal auditors to rearrange and strengthen internal audit function and perform external assessments by Standards 1300.
This learning initiative was supported by: