Internal Audit Basic Training - Banking Workshop
Join us for a unique, interactive course that "walks you through" the Internal Audit process with a focus on the retail banking industry.
"This course is not just for auditors or new auditors. It is for anyone who wants an understanding of the relationship between business objectives, risk, control, assessment and reporting within a retail banking environment."
This comprehensive banking focused internal audit training course is for anyone who wants to have a strong base of knowledge and understanding of the essential audit and the personal skills to become a successful bank internal auditor. All the examples and workshops are retail banking oriented.
We present the "Audit Life Cycle": Discover how audits are planned (based on an assessment of risk); how audits are conducted (fieldwork including interviewing, identifying internal controls, methods of testing, audit sampling, workpaper documentation); how audits are reported (identifying, prioritizing and communicating internal control deficiencies); and how to follow up on audit findings.
We also focus on FDICIA compliance: how to provide internal control under FDICIA; how to test internal controls at all levels; how internal control frameworks are assessed; and how do we document the internal control framework for the Board and Management.
Relax and learn through expert instructor presentations, discussions, expert examples, audit exercises, white-board diagramming and workpaper examples.
This timely, four-day CPE training seminar is designed for the new internal auditor and individuals who have to create effective audit workpapers in performing internal audits, internal control assessments and then communicate the results to management.
Follow the below links for further detail information:
. Seminar Highlights
. Learning Objectives
. Key Issues on the Agenda
Each attendee will receive 32 Auditing CPE Hours (YB). A certificate of completion will be provided.
The retail cost of this CPE seminar is $1,975.00 for the first attendee from a single organization. Discounts are available for more than one attendee from each organization: (2) $3,750.00 (3) $5,330.00 (4) $6,715.00 (5) $7,900.00.
Presentation of all three day events is contingent until full payment has been received for three attendees. Once this requirement is meet, we update the seminar status with "Confirmed Event".
To reserve your space, click on the "SIGN-UP NOW!" link in the right margin, complete the registration form, and use the corresponding "Submit Registration Form and Move to Payment Options Page" button for filing the registration and moving to the payment page.
Course Duration: 3 Days; CPE Credits: 24; Knowledge Level: Basic; Field of Study: Auditing; Delivery Format: Group-Live Presentation either on-site or public event; Prerequisites: None; Advance Preparation: None.
Upcoming Internal Audit Basic Training - Banking Courses:
Refer to our Seminar Cities Index for a list of our seminar locations. The individual city
pages provide a listing of topics being presented. Our Seminar Cities by Week provides a
guide to the locations during a calendar week.
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. What are Auditing Standards
top of page
. Who are the banking regulators?
. What are the risks: Retail Banking, Corporate Banking, Private Banking?
. Understanding Risk Assessment for banks
. Best Practices in conducting audit fieldwork and internal control testing
. Internal audit reporting defined
. Best Practices in creating Internal Audit reports
. What to include and not include in each audit report
. Essential sections of each type of audit report
. How to properly document credibility determinations
. Principles of clear and concise report writing
. Best Practices concerning FDICIA compliance
. Entity Level Control Documentation
. Testing FDICIA controls at all levels: entity, process, ITGC
. Attendees will understand the basics about banking regulation and the need for internal auditors
top of page
. Attendees will understand how bank internal audits are conducted
. Attendees will learn how to identify risks in a retail banking operation
. Attendees will learn how to evaluate and document internal controls under FDICIA
. Attendees will discover the best techniques for gathering audit evidence
. Attendees will see the importance of preparing workpapers
. Attendees will discuss interpersonal and team-building skills
. Attendees will understand the internal audit communication process
Key Issues on the Agenda
top of page
Introduction and Overview
. About Us and About Your Instructor
. Who are You? What are Your Needs?
. What are the characteristics of your bank
. Overview of agenda
Section 1 - Overview of Internal Auditing in Retail Banks
. Myths About Auditing
. How the World Works!
. What is "Moore's Law"?
. What is "Internal Auditing"?
. How can auditors manage risk?
. What type of internal audits do we conduct?
. Internal Audit Questions and Answers
. Audit Committee Expectations
. Accounting vs Auditing
. What should an internal auditor do?
. Who are the banking regulators?
. Dr. Kotter's Steps for Change
Section 2 - Internal Auditing - Yesterday, Today and Tomorrow
. History of Auditing
. Traditional Internal Auditing
. Today's Bank Internal Auditors
. Tomorrow's Challenge
Section 3 - Auditor Guidance
. Numerous Audit Guidance Available
. How the regulators look at banking - CAMELS Rating System.
. Institute of Internal Auditor's IPPF
. IIA Code of Ethics
. Four Stages of Competence
. IIA Attribute Standards
. IIA Performance Standards
. IIA Practice Guides
. COSO 2013
. FDICIA and the FDIC
. FFIEC Cybersecurity Assessment Tool
. Federal Legislation
. Sarbanes-Oxley Act
. GAAP - IFRS - GAAS - PCAOB
Section 4 - Roles of the Internal Audit Team
. Chief Audit Executive
. Audit Manager
. Audit Senior
. Audit Staff
. What skills should auditors possess?
Section 5 - Internal Audit vs. External Audit
. What is "Materiality"? "Misstatements"?
. Financial Auditing
. GAAS Compliance
Section 6 - Planning the Internal Audit and Assessing Business Risks
. Internal Audit "Life Cycle"
. Risk Guidance from COSO Enterprise Risk Management Framework
. Three Layers of Residual Risk
. COSO and FDICIA Focus on Risk
. Development of a Risk-based bank internal audit plan
. Assess the Areas of Audit Risk
. Risk Management and Audits are not perfect
. Maintain an "Audit Trail"
. How do we plan an internal audit?
. Detailed planning of audits
. Where can we obtain audit procedures?
. Better Audit Management
. Conducting an audit risk assessment
. Development of an "Audit Program"
. Deliverables from the Audit Planning Process
Section 7 - Conducting Interviews
. What does internal audit mean?
. What false assumptions get in the way?
. Different types of interviews
. Different personality types
. The Audit Interview
. S.P.I.N. Selling Interviews
. Situation Questions
. Open Ended Problem Questions
. Implication Questions
. What needs to be done?
. Establishing a "Fact"
. Sequencing to get to the "Facts"
Section 8 - Concluding Audit Fieldwork
. "Kick-Off" meeting
. Deliverables Reviews
. Recognizing the important internal controls
. Conducting an "Audit Walkthroughs"
. Procedures Reliability Attributes
. Fieldwork Skills
. What is being heard??
. Obstacles that get in the way.
. Categories of lies
. What deception sound like
. What deception looks like
. Sort through the interview
. Assess the segregation of duties
. Quality of Audit Evidence
. Methods of testing
. Testing financial transactions
. Control testing
. Sample sizes
. Examples of Internal Controls in business processes
. Examples of Information Technology General Controls
. Examples of entity level controls
. Organizing and documenting work in audit workpapers
. Workpaper key elements
. Workpaper reviews
. Essential workpaper characteristics
Section 9 - Using Audit Software
. Audit Software Categories - Brands
. Data analysis
Section 10 - Audit Findings & Concluding the Audit
. Holding an "Audit Exit" meeting
. Confirmation of the audit findings
. Audit reporting writing magnificent seven
. Evaluate the severity of findings
Section 11 - Audit Report Writing
. How to write a "Bad Audit Report"
. Maintain the "Audit Trail"
. lIA Vision of an Audit Report
. Format, Organization and Content
. IIA Audit Guidance
. Why do we write audit reports?
. Do you know your audience?
. Organize your content for the audience
. Visual learners
. Audit Opinions
Section 13 - Components of the Audit Report
. Sections of the Audit Report
. Cover page
. Executive Summary
. Auditor's summary
. Findings and recommendations
Section 14 - The High-Level Executive Summary vs Audit Summaries
. What to tell the "Executive"?
. Executive Summary Section of the Audit Report
. Risk Communication
. Build the Relationship
. Management Action Linkage
. Audit Summary - Protection for the audit team
. Summarize the findings
. Identify the audit objectives
. Scope Limitations
. Audit Opinion and Ratings
. What is an audit opinion?
. Ratings - Scores - Grades
. Maturity Models
Section 15 - The Hard Facts: Audit Findings
. What is an "Audit Finding"?
. Risk Ranked Findings
. More effective audit findings
. Conditions - 50,000 feet to "Ground Zero"
. Cause - Proximate - Intermediate - Root Cause
. Risk Ranks
. Common Risk Categories
Section 16 - Recommendations and Corrective Action Plans
. The IIA Standard
. How to make a management action plan S.M.A.R.T.
. Best Practices
Section 17 - Audit Report Formatting
. Font Type and Size
. Text Justification
. Formatting Recommendations
. Format accounting to the audit type
. Special reports
Section 18 - Optimizing the Audit Report
. Optimizing the Report
. Optimize the Visual Presentation
. Cover Page
. Optimize the Report Structure
. Optimize Content
. Optimize Flow
. Optimize Wording
. Optimize the Paragraph
. Optimize the Sentences
. Optimize the Content
. Word Economy
. Verb Tense
. Using Tone for Advantage
. Proof Reading
. Report Review
. Optimize Format to Visual People
Section 19 - Federal Deposit Insurance Corporation Improvement Act of 1991 - FDICIA
. What Happened in to the FDIC and FSLIC in the 1980's?
. The Details of FDICIA Act
. Current Day Compliance Requirements
Section 20 - The COSO Internal Control Framework
. COSO "Risk Assessment"
. COSO "Control Environment"
. COSO "Control Activities"
. COSO "Information and Communication"
. COSO "Monitoring Activities"
Section 21 - Planning the FDICIA Compliance Assessment
. Project Management Methodologies
. Defining Your Risks
. Assessing Risk in Your Banking Organization
. Determining the Risk Response
. Documenting the Plan
Section 22 - Performing the Assessment
. Assessing Corporate Governance - Entity Level Controls
. Assessing Process Level Controls:
- Cash - Cash Equivalents
- Investments - Treasury
- Allowance for Loan and Lease Losses
- Information Technology
- Fixed Assets - Other Assets
- Trust - Fee Income
- Human Resources - Payroll
- Accounting and Financial Reporting
- The Bank Call Report
. Internal Control Testing
. Sampling Techniques
. Documentation Examples
Section 23 - Concluding the Assessment
. Evaluating Internal Control Deficiencies
. What is the Severity?
. CAPs and Accountability
. Remediation Activity
. How Do We Document FDICIA Compliance?
. Summarizing for Executives and Boards
Section 24 - Summary and Wrap-Up
. 10 Keys to successful internal auditing
. Communication is the end product
Banking Industry Regulatory Compliance Knowledge Areas
The following knowledge areas are the basis for the Certified Regulatory Compliance Manager (CRCM) examination. This certification is focused on the knowledge needed to address all the compliance requirements that may be presented in a retail community bank.
A.Equal Credit Opportunity Act/Regulation B
B.Consumer Leasing Act/Regulation M
C.Flood Insurance Laws and Regulations including Interagency Q&A
D.Truth in Lending Act/Regulation Z
E.Unfair, Deceptive, or Abusive Acts or Practices(UDAAP)
F.Fair Housing Act G.Fair Credit Reporting Act/Regulations V and FF
H.Real Estate Settlement Procedures Act/Regulation X
I.Fair Debt Collection Practices Act
J.Servicemembers Civil Relief Act
K.Homeowners Protection Act
L.Insider Lending/Regulation O
M.Credit by Banks for the Purpose of Purchasing or Carrying Margin Stocks/Regulation U
N.Real Estate Appraisal Regulations
O.Military Lending Act
P.Home Mortgage Disclosure Act/ Regulation C
Q.Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act)/Regulation G
A.Electronic Funds Transfer Act/Regulation E
B.Federal Benefit Payment Garnishment Rule
C.Expedited Funds Availability Act/Regulation CC
D.FDIC Deposit Insurance Regulations
E.Reserve Requirements/Regulation D
F.Truth in Savings Act/Regulation DD
G.Debit Card Interchange Fees and Routing/Regulation II
H.Unfair, Deceptive or Abusive Acts or Practices (UDAAP)III.
A.Transactionswith Affiliates/Regulation W
B.Bank Protection Act
C.Branch Closing Policy Statements
D.IRS Information Reporting and Withholding Regulations
E.Retail Non-deposit Investment Products
F.Consumer Protection in Sales of Insurance Regulations
G.Exceptions from Broker-Dealer Requirements/Regulation R
H.FIRREA Civil Money Penalties
I.Title III of the Americans with Disabilities Act IV.
A.Bank Secrecy Act
B.Office of Foreign Asset Control Regulations
C.Foreign Corrupt Practices Act
D.Unlawful Internet Gambling Enforcement Act/Regulation GG
E.Bank Bribery Act
Community Reinvestment Act
A.CRA Sunshine Act and Implementing Regulations
B.Community Reinvestment Act, Implementing Regulations and Interagency Q&A
C.Interstate Branching and Banking Efficiency Act VI.
A.Right to Financial Privacy Act
B.Privacy of Consumer Financial Information/Regulation P
C.Children's Online Privacy Protection Act
D.Information Security Provisions of GLBA/FFIEC Guidelines
E.Telephone Consumer Protection Act (TCPA)
F.Identity Theft Prevention Program Requirements (FCRA)
G.Privacy of Protected Health Information (HIPAA / HITECH Act)
H.Financial Records Reimbursement / Regulation S
I.Telephone Sales Rule (TSR)
J.Controlling the Assault of Non-Solicited Pornography and Marketing Act (CAN-SPAM Act)
Experts Providing CPE Training Seminars
Corporate Compliance Seminars has been created by experts who enjoy providing CPE classroom training, workshops and consulting on internal controls, internal auditing and accounting related subjects. We have focused on SOX, COSO, PCAOB, COBIT, GRC, IFRS, AICPA, GAO and IIA Standards.
Our programs are CPE for professionals with CPA, CGA, CIA, CFE, CISA, CMA and CA designations.
Corporate Compliance Seminars presents CPE to auditors, compliance and IT professionals, Boards of Directors and Audit Committees. We examine the details of risk management, Sarbanes-Oxley Act compliance, Model Audit Rule compliance, auditing, internal controls, IT security and compliance, and fraud prevention and detection.
Corporate Compliance Seminars allows the attendee to earn Official NASBA CPE credit.
Our seminars focus on the details of the Sarbanes-Oxley Act of 2002 (SOX), Internal Controls over Financial Reporting (ICFR), Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control Frameworks, ISACA's Control Objectives over Information Technology (COBIT), Information Technology Infrastructure Library (ITIL), Open Compliance & Ethics Group's (OCEG) Governance, Risk & Compliance (GRC) methodology, PCAOB's Auditing Standard 5 (AS5), AICPA auditing standards and the future conversion from GAAP to the International Financial Reporting Standards (IFRS).
Our seminars provide CPE for the CPA, CFE, CIA, CISA, auditors and others with effective and engaging training.