A. Internal Audit MethodologiesImplementing Internal Audit Practices in Compliance with International StandardsCourse ObjectivesThis course provides the templates and methodology for implementing the internal audit process.Participants will further be better prepared to customise to their company specific context and usecompany specific knowledge to fit into the international process.During this two-day workshop participants will learn to carry out the successive tasks of an internal auditassignment from planning to delivery of the audit report:• by applying the standard internal audit roadmap and deliverables• by using the tools and techniques such as building the audit plan, approach, working programmes,as well as the tools and techniques for gathering information and for reporting audit results• by documenting their work in a proper way• by developing communication and behavioural skills• by adapting to the management styles and cultures of organisationsThe seminar will provide an overview of the international standard for internal auditing (IIA standards).Participants are encouraged to share on their experience and discuss how internal auditing can beinfluenced by cultural, company or country-specific aspects.This training will cover the different types of audits, both financial and operational, and introduce riskmanagement tools and techniques that can be used in a modern practice of internal auditing in order toensure that audit reports are actionable and implemented.Learning methodologyShort lectures, exercises, group discussions, role plays and application casesMediumEnglishWho should attend?Professionals with no or limited experience in internal audit (1-3 years); the session is suitable forinternal auditors, external auditors or finance managers, accountants, consultants or otherprofessionals who are assigned to conduct internal audit engagement either related to compliance,financial information or operational performance.
Course contentDay 1Introduction- The internal audit roadmap- Internal Audit Tools- Scope of applicability of the internal auditroadmap- Internal Audit Templates- International Standards- Internal Audit SkillsThe Planning phase- Objectives of the planning phase- Define audit objectives, approach andaudit programme- Annual planning- Communicate with stakeholders and clients- Audit types; defining the audit approach- Scooping- Letter of engagement- Communicating the value proposition tomanagementInternal Audit Fundamentals- Internal Audit charter- The definition of internal audit and internalcontrol objectives- The differences between internal audit andcontrol- The characteristics of internal audit- Difference between internal and externalaudit and relation with other departments- Reporting lines- Consulting activities of internal auditBuilding the control framework- Fundamental principles of internal auditing- Adapting your approach to management styles- Economy, efficiency and effectiveness (the 3Es)- Collecting information: techniques(Preliminary survey phase)- Process Management- Defining process- Addressing various categories of controls- Use of check lists (IC questionnaires)- How compliance and consulting complementeach otherDay 2Risk-based techniques- Risk Management (Prioritising your works)- Residual risk and scoring- CRSA techniques- Challenges in creating the business controlframework- Collaboration mode in the preparation phase:communication and behavioural skills- Escalation procedureWriting the audit wororking progogram- Purpose of the working program- Defining criteria for auditingFraud audits- Definition of fraud audit- The role of the internal audit on fraud- Risk signals- Pre-investigationsIT Controls- How to do IT controls work- Auditing IT controlFieldwieldworork Tecechniqhniques- Preliminary fieldwork tasks- Analytical procedures- Interviewing skills- Interpersonal skills- Audit testing and sampling techniques- Data mining tools- Filling techniques- Assessing the quality of evidence- Identifying solutions: cause-effect analysis- Making judgement on controlsReporting audit findings- Final meeting (oral reporting)- Quality criteria for reporting- Formulating recommundations- Writing the audit report- Formulating the audit opinionsMonitoring and continuous improvement- Internal Audit evaluation phase- Evaluating the effectiveness of the internalaudit
B. Wororkshop on IT Auditing for Non-IT AudituditororsCourse ObjectivesThe computerisation of organisations and processes poses a major challenge to internal auditorsevaluating the risks and controls in complex environmentsAbove this, international standards for the practice of internal auditing require that: ‘“Internal auditorsmust have sufficient knowledge of key information technology risks and controls and availabletechnology-based audit techniques to perform their assigned work.”Starting in 2005, the Institute of Internal Auditors published the Global Audit Technology Guide whichaims to provide easy-to-understand information technology audit guides to internal audit professionalsand audit committee. The guide is useful to provide a mechanism to quickly address new IT issues andproduce technical audit working programs for one’ s organisation.After attending this session, participants will:• Understand their role and responsibilities and the role of IT auditing: skills, areas and risks involved• Understand the critical areas and approach for non-IT Auditors to be covered; and cooperate withthe IT risk functions• Understand the relationship between financial and IT controls• Know how to evaluate application controls and Common IT General Controls (In a simpleEnvironment)The course will not teach on how to conduct IT audits but will equip internal auditors with sufficient knowledgeto allow them to work effectively with IT auditors, manage information technology related to audit request,and acquire a good command of the technical language for IT auditing. It will cover the main topics of theGlobal Audit Technology Guide for internal auditors to be able to comply with the international audit standards.Who should attend?Internal auditors with no technology background nor experience or anyone with the responsibility to conductinternal audit activities covering processes and information flows supported by IT systems.The course can be attended as a useful complement of the two core-seminars: ‘Internal auditmethodologies’ and ‘Managing the internal audit department’.MediumEnglish. Learning techniques will include short lectures, various examples and simulations.Course content• Overview of GTAG ® guidance• Role of the internal auditor on IT• Organisational aspects of 1T and ITgovernance• IT entity-level controls• Computer assisted audit techniques• Understanding IT controls (applicationand general controls)• Role of IT in top-down risk-basedapproach for internal audit• Methodology & templates• IT knowledge on IT infrastructures andsytems (self-review test)• Understanding IT risks• Measuring IT risks• Risk scoring• Testing application controls• IT General Control reviews• Risks and controls IT Change management• Case study (45 mns')• Introduction of IT audit methodology(COBIT)
C. Managing the Interernal nal Audit DepartmentBuilding Effective Internal Audit Processes, Organisation and LeadershipCourse ObjectivesThis course aims to give participants the opportunity to:• Understand (and prioritise) their responsibilities in their role of managing internal audit activitiesand reassess the full scope of activities in the internal audit department• Perform a short self-review of their internal audit practice and evaluate the current strengths andweaknesses of the internal audit process in your organisation for continuous improvement• Revisit common standards in supervising audit works, papers and the application of internal auditprocedures• Define strategies to enhance collaboration of other parties with the internal audit function inorder to maximize impact and value• Conduct audit planning activities (annual and activity-based)• Report on results to management and the board of directors• Recruit and lead audit teamsWho should attend?Head of Internal Audit, Internal Audit Managers, Internal Audit Directors, Risk managers, or non-auditmanagers with responsibilities to lead internal audit assignments both financial or operational acrossoperations.Management-level executives preparing to transfer to audit role positions.Internal or external consultants in charge of outsourcing or co-sourcing internal audit activities.Note: Previous internal audit experience of 1 to 3 years is recommended as a prerequisite forregistration to this. Participants without prior internal audit experience might consider attendingHKMA Internal Audit Methodologies workshop as a prerequisite.MediumEnglish. Learning techniques will include short lectures, followed by individual group exercises, casestudies, interviews and group discussions.Course contentThe Internal Audit Roadmap. Key Standard requirements. Key steps and deliverables. Role on IT andFraud. Best Practices to ensure value adding and impact of Risk-based internal audit. Benchmark exercise.New environment of internal audit. IA Role and value proposition. Measuring the internal auditperformance. Internal Audit Reporting and communication with the board. Reporting practices andrequirements. Case study.Risk-based Audit Planning. Definition. Tools and Techniques. Audit Scoring. Practical steps in the planningphase. Control Risk Self-assessment. Annual Planning. Case Application (Demo).Resource Management. Skills requirement and staffing models. Leadership of the internal audit department.Adapting different cultural environments. Internal Audit role on organizational cultures .Self-evaluation tools.Review Test.
D. Internal Control for Senior Managers and Direc-torsDemonstrating commitment to building sound Internal Controls in yourOrganisation or Business UnitCourse ObjectivesThis course is designed for senior professionals who are non-specialist of internal control nor audittopics but may have responsibilities for directing, implementing and monitoring internal control intheir organisation or department . It will cover the following aspects:• understand compliance requirements and directors responsibilities on internal control (morespecifically in relation to the section C.2 of the Code of Corporate Governance of Hong Kong)• revisit the basics and underlying principles of internal audit and control concepts• know best practices on internal control disclosures in annual governance reports• practically implement practices at board or audit committee levels in order to align withcompliance requirements on internal control• implement internal control reviews under a risk-based approach• examine the benefits of implementing an internal audit function as well as assessing andmonitoring internal audit performanceWho should attend?Board of directors, audit committees, finance directors, controllers, internal auditors, external auditors,regulators, and others involved in reporting, assessing and directing internal control review assessmentin relation to codes of governance or regulatory compliance requirements. No specific pre-requisiteis required for this course. This seminar is useful for executives who assist in the dischange of theresponsibilities on internal control as well as satisfy compliance requirements.MediumEnglishCourse content• The recent trends in compliance and governance worldwide: What you should know onrecent evolutions in the field of GRC• Overview of Hong Kong Code of Corporate Governance (section C.2)• Main Principles• Management Responsibilities & Duties• Available guidance in Hong Kong for application• Internal Control concepts and frameworks• Relation between internal control, audit and risk management• Internal Control Disclosures and Reporting Best Practices• Role and Responsibilities of Audit Committees• The process for conducting internal control review assessments and documentationrequirements• Quality reviews and assessing the performance of internal auditing• Internal Auditing Best Practices• Essentials on international standards for the Professional Practice of Internal Auditing (IIAstandards). Internal Audit quality review assessments
DATES AND TIMESA. Internal Audit MethodologiesMonday & Tuesday 17 & 18 June 2013 9:00 am - 5:30 pmB. Workshop on IT Auditing for Non-IT AuditorsThursday 14 March 2013 9:00 am - 5:00 pmC. Managing the Internal Audit DepartmentFriday 15 March 2013 9:00 am - 5:00 pmD. Internal Control for Senior Managers and DirectorsMonday 18 March 2013 9:00 am - 5:00 pmFEESFees for Wororkshop A:Fees for Wororkshop B & C: Fees for Wororkshop D:HKMA Member: HK$4,250 HKMA Member: HK$2,500 HKMA Member: HK$2,980Non-member: HK$4,500 Non-member: HK$2,700 Non-Member: HK$3,180Group DiscountHK$150 per person (for companies that send two or more participants to the SAME workshop)Early Bird DiscountHK$100 (for reservations and payment received one month before the first day of the workshop)* $500 discount on Workshop B for participants who have attended either Workshop A or Workshop C before.VENUEDr Kennedy Y H Wong Management Development CentreThe Hong Kong Management Association1-6/F First Commercial Building33-35 Leighton Road Causeway Bay HONG KONGTel: 2574 2238LANGUAGE MEDIUMEnglishOverview – Internal Audit ProgrammesInternal Audit workshops have been developed to meet the needs of professionals at different levels:either internal auditors dealing directly with the practical execution of the internal audit assignments,or managers and board level executives assuming responsibilities for the quality and performance ofthe internal audit practices in their organisationThe workshops can be attended either separately or consecutively except for the workshop on managingthe internal audit department for which either previous internal audit experience of 1-3 years orattendance to the 2-day workshop on Internal Audit Methodologies is recommended.The seminars cover the standards definition and international professional standards for the practiceof internal auditing (IIA standard) although considering that the practice of internal auditing can beinfluenced by a variety of company-specific or environmental factors such as culture or compliancerequirements.About the speakerJean-Yves settled down in Shanghai in October 2005 after completing the Sloan Fellowship Programme atLondon Business School. Since then he has been working for several organisations as a trainer and coachto develop learning and coaching solutions on internal auditing, risk and performance management inAsia and China more particularly. Jean-Yves has delivered +100 public or in-company sessions towards +1500 local executives or expatriates from various levels and backgrounds in the Mainland China, HongKong, Singapore and South East Asian countries.Previously, Jean-Yves had served in several multinational firms mainly in internal audit, organisation andfinance roles. His last position was an internal audit manager for a world leader in the brewery industryin Paris. Jean-Yves has authored several articles on cross-cultural management and is preparing to publish‘Internal auditing in Asia: a cross cultural guide’, the definitive guide to principles and practicesfor localizing the operational audit practice in Asia, along with extensive academic research which hasbeen initiated with a number of institutions and experts on this topic over recent yearsJean Yves graduated from ESCP Europe (Master in Auditing) and from London Business School (SloanMaster of Science in Global Leadership and Strategy), an international 11-month programme dedicated forexecutives to develop global leadership skills. He is a Certified Internal Auditor, and a member of theInstitute of Internal Auditors.
REGISTRATIONAll interested parties are requested to complete the registration form and return it together withappropriate fee(s) to the Secretariat one week before the programme commences. To enjoy theEarly Bird Discount, participants should settle the payment one month before the first day of eachworkshop. Reservations by fax 2365 1000 are welcome but are subject to payment in full priorto programme commencement. For information on the seminars, please contact Ms Jane Ma on2774 8552 or Mr S H So on 2774 8550. For registration details, please contact Ms Mei Tangon 2774 8553. Successful applicants will be notified by telephone. No separate letter of acceptancewill be issued. As space is limited, bookings will be on a first-come, first-served basis.REGISTRATION FORMTo: Executive DirectorThe Hong Kong Management Association16/F Tower B Southmark11 Yip Hing StreetWong Chuk Hang HONG KONGOINATel: 2774 8552/2774 8550 Fax: 2365 1000Please enrol me in the following programme(s):A. Internal Audit Methodologies 17 & 18 June 2013 (AC- 47337-2013-2-FC)B. Workshop on IT Auditing for Non-IT Auditors 14 March 2013 (AC - 06724-2013-1-FC)C. Managing the Internal Audit Department 15 March 2013 (AC - 47378-2013-2-FC)D. Internal Control for Senior Managers and Directors 18 March 2013 (AC - 47336-2013-1-FC)Enclosed is a crossed cheque for HK$ ____________________ (made payable to The Hong KongManagement Association). Cheque No. ________________________________________________Name: Mr/Ms: _____________________________________________________________________HKID Card No: __________________________ HKMA Membership No.: _____________________Position: ________________________________ Company: ________________________________Correspondence Address: ____________________________________________________________Co. Telephone No.: _______________________ Fax No.(Office): ____________________________E-mail: ___________________________________________________________________________Where did you FIRST learn about this programme?Email Newspaper/Magazine (please specify): __________________ HKMA emailEmail promotion form other websites (please specify): ______________________________________Website Advertisement (please specify): _________________________________________________HKMA Website (From where did you learn about, please specify): _____________________________MTR Station Display (Please specify): ______________________________________________________Exhibition Education & Careers Expo (EEX) Jobmarket Career & Education (EJEX)Others (Please specify): _________________________________________________Signature: ______________________ Date: __________________ Fee paid by company self* No refund will be made after payment, but participants can arrange to have their places substitutedfor the same programme should they be unable to attend the programme.* Personal data will be used for the purposes of market research, programme development and directmailing.* The HKMA supports the equal opportunities policy, without discriminating against any person on thegrounds of gender, disability, family status or any other basis.