The standards of the IIA (Institute of Internal Auditors - in Luxembourg) and the objectives of internal controls highlight the importance for auditors to add value to the organization by having a methodical and structured approach. The evolution to the digitalisation requires banks to prepare their business processes to these radical changes. The goal is to move from the current process to a process that will prepare more automation. Therefore the objective of internal control, which requires auditors to give an assurance on the efficient use of resources and the accomplishment of the bank’s strategy and objectives, is becoming critical for auditors also to respond to the need of the Board and Audit Committee members. Data structure is also strategic and an in-depth analysis of the processes and data quality is an imperative to align with the new business models and the new 3 Lines of Defense model developed in 2019 by the IIA. The importance of operational risk measurement and collection of data errors requires new techniques for auditors.
The purpose of this course is to expose participants to some of the best quantitative and qualitative tools as well as Lean Six Sigma tools that can be used during the planning and fieldwork phases of an internal audit to enhance audit effectiveness, provide deeper insight into business operations, and identify process streamlining opportunities. These tools can be used independently or in conjunction with existing audit methodologies, tools, and techniques. Participants will have the opportunity to practice and apply the skills learned during the course through case study and exercises, which should enable them to integrate the tools and techniques into their audit engagement activities. The course includes also methodology to audit financial models.
This programme is divided into 8 online sessions of 3 hours each. Excel tools will be provided to participants for a full practical experience.
- Objectives of audit
- Refresh you mind on statistical concepts
- Audit fieldwork - audit in action
- Notions of VOC-VOP-VOB-VOE
KNOW YOUR PROCESS
- Process Mapping
- Auto-Quality Matrix
- QFD - House of Quality
- Process Capability Measures
- Exercises with data and Excel tools
- Tools to understand data
- Types of Data
- Data Collection Plan
- Data Structure
- Visual Management
- XY Matrix
- Box and Wisker Plot
- Five Whys
- Cause and Effect Diagram
- Control Chart
- Scatter Plot and Correlation
- Exercises using examples in banks
- Rolled Throughput Yield
- Sample Size Selection
- Exercises using Excel tools
AUDIT OF MODELS
- VAR Value at Risk
- Migration Matrix
- Vintage Analysis
- Scoring Model
- Contingency Liquidity Plan
- Explanation with Excel tools
Internal auditors (all levels), operational risk analysts, compliance officers, risks controllers, business controllers, senior & middle level management officers who want to learn about new tools and techniques to audit processes and data from a modern perspective.
Preferred: at least 3 years’ experience in Audit and/or business control of bank’s processes, operations, procedures and organization.
No training is available for this course.
For further questions please contact our partner in your country
Value Added Audit Techniques and Tools
I enjoyed the course very much, I learned many new things and useful tools for audit practice. Mr. Yves helped us a lot during the course and presentations, and I thank him very much for his support and professionalism. Merci beaucoup pour cette belle expérience et pour cette opportunité d'apprendre, d'approfondir et d'appliquer de nouvelles techniques dans notre travail quotidien. Thank you !
Cristina BRAGARI, Internal Auditor, October 2022