Course description
Internal control systems are inspected to ensure they are suitably robust and functioning correctly. An incredible audit system assists companies in achieving their goals and objectives by assessing overall performance and productivity by examining business records. Additionally, audits mitigate risk and safeguard against fraud, giving investors and shareholders information about a company’s financial statements and operational performance.
Why are analytical skills essential for managers?
Analytical skills are essential for managers, leaders, business owners, and virtually every individual because they involve critical thinking, which is crucial to making excellent decisions and conceiving progressive action plans.
Upcoming start dates
Suitability - Who should attend?
Who should attend?
The Analytical and Auditing Skills Training Course by Rcademy is most applicable to the following set of people:
- Finance specialists:responsible for the organization’s financial management and accounting
- Engineers:who carry out designs and construction projects requiring capital and procurement
- Managers and specialists:in design and production
- Process and product designers:supporting the activities of managers and specialists
- Business analysts:who forecast the projection of the business through data collection
- Personnel in sales and marketing:making day-to-day sales of products and services
- Specialists in auditing and quality assurance:to implement internal control into the organizational structure
- IT specialists:responsible for the effective internal and external communication of the organization, including financial communication and channel
- Compliance officers and risk officers:who maintain a safe zone for the organization from both a legal and financial standpoint
Outcome / Qualification etc.
The Analytical and Auditing Skills Training Course by Rcademy aims to help participants achieve the following objectives at the end of the training:
- Learn how to collect data that are relevant to carrying out an audit
- Familiarise with the process of data collection and also objectively cleansing data collected
- Recognize how data analysis may help in improved decision making
- Understand how to effectively select appropriate analytical techniques and methods
- Understand the effective use of each analytical data technique
- Conduct an efficient audit process with the available or collected organizational data
- Create concise reports that include graphs and charts from the analysis
- Deliver accurate reportage and implementation of data analysis results and audit findings
- Familiarise with the updated and relevant model of carrying out analytical auditing
- Create a network of engaging and interactive professionals within and beyond organizations
- Create better and innovative means for carrying out professional auditing
Training Course Content
Module 1: Introduction to Analytical Auditing
- Overview of auditing procedure – Steps in the analytical process – Steps in the auditing process
- Data analysis – Collection – Sorting – Categorising – Cleansing – Evaluation – Presentation
Module 2: Analytical Skills
- Fundamentals of analytical skills – Needs – Purpose – Function
- Steps in the analytical process – Data collection – Data organization – Data evaluation – Information gaps
- Analytical skills requirement – Effective communication – Creativity – Research – Critical thinking – Proficiency in Excel, SPSS etc.
Module 3: Auditing Skills
- Overview of auditing
- Responsibilities of auditor
- Effective auditing – Attributes of auditor
- Developing audit documentation – Planning and preparation
- Conducting an audit – Questioning – Interview – Data collection – Data analysis – Objective evidence – Findings
- Auditing independence
Module 4: Qualitative Analysis
- Introducing qualitative analysis to auditing
- Continuous variables – Independent variables – Dependent variables
- Discrete variables
- Mean
- Standard deviation
- Normal distribution
- Correlation and regression
- Patterns
- Presentation of analysis – Tables – Charts – Graphs
Module 5: Data Integrity
- Data cleansing – Duplicates – Outliers – Incomplete data
- Control chart
- Pareto analysis
- Indices
Module 6: Reporting
- Concluding auditing process – Double-checking – Grey areas – Reconciliation
- Identifying areas of improvement
- Development and documentation – Audit findings – Audit conclusion
- Reporting Template – Graphs – Charts
- Report presentation
- Wrap up and follow up
Module 7: Fraud Risk and Financial Statement Audit
- Expectation gap – Auditor – Financial statement users
- Identifying fraud – Response
- Cybersecurity fraud risks
- Engagement team
- Management override
- Fraud communications
Module 8: Compilations and Reviews of Audits
- Basis of financial statements
- Compilation engagement
- Framework for compilation
- Requirements for audit review
- Review results
- Litigation
Module 9: Audit Documentation
- Requirements for documentation
- Documenting audit programs
- Work paper formata – Organisation style
- Documenting quality audits
Module 10: Audit Risk
- Identifying and evaluating audit risk
- Risk assessment of quality audit
- Audit risk formula
- Risk assessment process
- Risk assessment documentation
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Rcademy
Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...