SWAIAP TRAINING-INDUCTION JOINT COMMITTEE – RESOLUTION ON COURSE CONTENTS

PERIOD: - MARCH 2023 TO APRIL 2023

WEEKDAY: WEDNESDAYS & FRIDAYS

TIME: 3PM - 5PM

ADVANCED LEVEL II – FELLOW WEST AFRICAN INTERNAL AUDITOR (FWAIA)

MODULES Sessions (Sub-headings) Duration Duration
(Days) (Hours)
1A. GOVERNMENT AUDIT III Government Audit Methodologies and Skills 1 Hour
• Management concepts and techniques
• Performance measurement and
Course Objectives
management
• Program evaluation overview
• Integrity services by government
auditors
• Research and data collection
techniques
• Analytical skills and logic
• Participants complete mock questions
for Domain III
• Discussion of answers to mock
questions for Domain III

1B. Government Audit IV Government Auditing Environment 1 Hour

• Performance management
• Financial management (includes
budgeting)
• Implications of various delivery
methods (in-house, contracted out, etc.)
• Unique human resources management
• Unique procurement management
• Participants complete mock questions
for Domain IV
• Discussion of answers to mock
questions for Domain IV
• Discussion of additional supplemental
questions (total group)
• Discussion of reference material for
the test
• Questions, summary, and evaluation
2. MANAGING THE INTERNAL Strategic roles of internal audit - Value 1 Hour
AUDIT FUNCTIONS – Part 3 Addition.
Operational role of internal audit –
• Formulation of policies and
procedures,
• Administrative activities,

3. EFFECTIVELY LEADING AND
MANAGING AUDITS
Course Objectives
• Identify and apply project
management tools and
strategies
• Lead, develop, and motivate
staff
• Understand and apply
effective methods to give and
receive feedback
• Manage message
development and report
preparation
• Utilize methods to develop a
positive team culture
4. COLLECTING AND
ASSESSING EVIDENCE TO
PRODUCE SOUND AUDIT
FINDINGS
Course Objectives
• Understand the role of
evidence in conducting audits
• Reporting on risks and internal
control frameworks,
• Maintaining effective quality
assurance improvement program,
• Establishing risk-based internal audit
plan including types of engagement.
Auditor-in-Charge Roles and Responsibilities 2 Hours
• Roles and responsibilities
• Skills needed to be an effective Auditor-in-
Charge
Developing the Audit Project Plan
• Project design tools
• Project planning: 5-step approach
• Facilitating team meetings
• Time management skills
Supervision of Audit Documentation
• GAGAS requirements
• Managing and reviewing audit
documentation
Coaching, Developing and Motivating Staff
• Leadership principles
• Coaching and developing staff, characteristics
of effective coaches
• Motivation strategies
• Effective feedback, communication, and
listening
Managing Message Development and Writing
• Tools and techniques for guiding audit teams
in developing the message
• Guiding the audit team during report writing
• Techniques for effective report review and
revision
Building High Performance Teams
• Creating a positive team climate • Managing
relationships with team members,
stakeholders, and managers.
Fundamentals of Evidence 2 Hours
• Role and importance of evidence in audits
• Professional skepticism
• Evidence model: flow from audit questions,
to evidence, to findings • Three types of
evidence
• Strengths and limitations of each type
Applying Evidence Standards
• GAGAS requirements for assessing evidence
• Identify the different types
of evidence and their
strengths and limitations
• Apply GAGAS standards
regarding the sufficiency and
appropriateness of evidence
• Use professional judgment
and critical thinking skills in
analyzing and assessing
evidence to develop findings
• Understand the importance
of documenting audit
approaches and the
supporting evidence
5. Quality Assurance
Review Phases (Working
papers and Report)
• Assessing sufficiency and appropriateness
• Evaluating types of documentary evidence:
web-based; external studies; computer-
processed data
• Conducting data reliability assessments
• Using testimonial evidence
• Using physical evidence
Collective Evidence Assessment
• Moving from individual pieces of evidence to
reviewing the body of evidence
• Determining the need for corroborating
evidence
• Documenting the evidence and audit
approach
Planning Phase 4 Hours
• A1: Peer Review Volunteer Application
Form
• A2: Peer Review Request Form
• A3: Memorandum of Understanding
Sample
• A4: Statement of Independence—
Reviewer
• A5: Statement of Independence—
Mediator
• A6: Planning Questionnaire
• A7: Peer Review Program Checklist
• A8: Self-Assessment Checklist
Conducting The QAR Phase
Survey Phase
• B1: Sample Survey—Internal Audit
Director
• B2a: E-mail with Client Survey
• B2b: Client Survey
• B3a: E-mail with Internal Audit Staff
Survey
• B3b: Internal Audit Staff Survey
• B4: Survey Response Summary
Interview Phase
• C1: Sample Interview Questionnaire—
Board/Committee Member
• C2: Sample Interview Questionnaire—
Executive Management
• C3: Sample Interview Questionnaire—
Management
• C4: Sample Interview Questionnaire—
CIO
 • C5: Sample Interview Questionnaire—
Internal Audit Director
• C6: Sample Interview Questionnaire—
Internal Audit Staff
• C7: Sample Interview Questionnaire—
External Auditor
• C8: Interview Results Summary Form
Program Phase
• D1: Governance
• D2: Staff
• D3: Management
• D4: Process
• D5: Information Technology
• D6: Testing Tool—Work Paper Review
Assignment
• D7: Testing Tool—Work Paper Review
Summary
Evaluation Summary & Report Phase
➢ PART I: General
Instructions/Definitions
➢ PART II: Definitions
• E1: Evaluation Tool—Observations and
Issues Worksheet
• E2: Standard Conformance Evaluation
• E3: Quality Assurance Review
• E4: Sample Draft Report
• E5: Specimen of Peer Review
Results/Reports
• E6: Satisfaction Survey
• E7: Peer Review Survey
Evaluate alignment with the
Standards/ Evaluating Quality Assessment
Results
Indicate improvement opportunities.
Establish benchmarks and metrics.
Promote successful practices
Communicate effectively and as
required to stakeholders.
Align with internal audit and audit
committee charters.
Support the organization’s risk and
control assessment.
Ensure effective use of resources.
Provide ongoing evaluations of the
internal audit activity.
Validate your effectiveness and the
value added to the organization.
Provide assurance to internal audit
stakeholders.

6. FUNDAMENTALS OF
INTERNAL AUDITING
7. Internal Audit Procedure
and Techniques
Assist your audit committee in
understanding and carrying out their roles and
responsibilities.
• Mandatory and Recommended Guidance 2 Hours
• The International Standards for the
Professional Practice of Internal Auditing
(Standards)
• Structure and Numbering System
• IPPF Enhancements
• Governance Codes
• COSO Internal Control–Integrated
Framework
• COSO Enterprise Risk Management (ERM)
Framework
• IT Control Frameworks
1. Balanced Scorecard (BSC) in Internal Audit 6 Hours
Department
➢ Terminologies
➢ Benefits of a BSC
➢ Performance Measures for Internal
Auditing
➢ Identifying Critical Performance
Categories
➢ Identifying Performance Category
Strategies and Measurements
➢ Reasons for Performance
Measurement
➢ Creating an Effective Performance
Measurement and Reporting Process
➢ Strategic Questions to Address
➢ Evaluation of Current Internal Auditing
Performance Metrics
➢ Steps to Create a BSC
• Step 1—Identify What Your
Customers/Clients Want
• Step 2—Assess Internal Audit’s
Capabilities
• Step 3—Develop Strategic Objectives
• Step 4—Identify Performance
Measures
• Step 5—Identify Targets and Initiatives
• Step 6—Develop a Strategic Map
• Step 7—Develop a Scorecard for Each
Category
2. Technology-Based Audit Techniques
• Data Mining in Auditing
➢ Introduction
➢ Data Mining as an Auditing Tool
 ➢ Why Is Data Mining Better than
Traditional Auditing Methods?
➢ Applications of Data Mining
➢ General Auditing Software versus Data
Mining Software
• Analytics in Internal Auditing
➢ Business Intelligence/Business Decision
(BI)
➢ Predictive Analytics
➢ Prescriptive Analytics
➢ Why Analytics in Internal Auditing?
➢ Benefits of Analytics in Internal
Auditing
➢ Approach Comparison
➢ Analytics Maturity Model

8. GOVERNANCE AND Introduction: Business Ethics, 4 Hours

BUSINESS ETHICS (AGENCY Corporate Social Responsibility, citizenship and
/ STEWARDSHIP performance
PRINCIPLE) Framing business ethics & corporate
social responsibility CSR: theories & models
The Modern Corporation, morals,
corruption and Scandals
Agent-principal problems & Solutions
Environmental & Social Accounting -
issues of sustainability.
Ethics and International Business - A
global perspective
The history and nature of corporate
governance
Corporate Governance, Agency and
Stewardship Principles
Corporate Governance Frameworks
Corporate Governance - 'The Code'.
Aims of corporate governance:
transparency in communication with the
Company’s shareholders; Keeping the
shareholders continuously informed; fraud
prevention.
The concepts, essential principles, and
stakeholders of corporate governance
Key Regulations, Codes of Practice and
Standards
Rights and Interests of Stakeholders
Board and committee functions and
structures and company officers’ training,
induction, and behavior
Non-executive directors and the audit
committee
 Institutional investors and corporate
governance
Integrity and Ethical Behaviour
Principles of good corporate
governance and corporate disclosure
requirements
Practical Implementation:
• Code of Conduct
• Corporate Policies
• Company Procedures
• Case Studies
9. ORGANISATIONAL Meaning and deginition of 2 Hours
STRUCTURE AND BUSINESS Organisational Structure
PROCESS & RISKS 4 Types / forms of Organisational
Structure
• Administrative Structures
• Functional Structure
• Divisional Structure
• Matrix Structure
Mintzberg's Five Types of
Organizational Structure
• Entrepreneurial
• Machine
• Professional
• Divisional
• Innovative
Elements of Organizational Design
• Work Specialization
• Departmentalization and
compartments
• Chain of command
• Span of Control
• Centralization and Decentralization
• Formalization of Elements
Principles of organisational structure
• Specialization
• Cordination
Management principles of the
hierarchy of authority
• Flat Organisational Structure Vs.
Hierarchical Organizational Structure
• Advantages vs Disadvantages
Business Process
• Meaning and definition
• Type of Bisiness Process
(Manufacturing, Finance, HElath, Banking,
Travel, Defense, HR, Public Sector, Compliance)
• Business Process activities
Challenges to Business Process
• Techinical solution to challenges
• Methodological solutions
 Business Process Risk Assessment
• Risk Failure Mode
• Effect, Causes, Inherent probability
and controls to Business process Risk.
Case Studies of Business Process Risk
Assessment
10. COMMUNICATION The Communication Process – meaning 2 Hours
PROCESS and definition
Steps involved in communication
Models of Communication (Types)
• Aristotle's Model
• Lasswell's Model
• Claude Shannon and also Warren
Weaver Model
• Schramm's Model
• The Rileys Model
• Berlo's S-M-C-R Model
• Contemporary Mode
Type of Communication
• Interpersonal communication
• Non verbl communication
• Written communication
• Oral Communincation
Corporate communication
• The roots of corporate communication
• Key task of corporate communication
o Internal communication
o Marketing communication
o Investor Relations
o Government Relations
o Public Relations
Corporate Branding
Corporate Identity / organization
Identity
Corporate Responsibility
Corporate Reputation
Internal / Employee communications
Cases studies related to corporate
communication
11. GLOBAL BUSINESS Economic / Financial Environments 1 Hour
ENVIRONMENT Cultural / Political Environments
Legal and Economics — General
Concepts (e.g. contracts)
Impact of Government Legislation and
Regulation on Business (e.g. trade legislation)
12. RISK ADVISORY Internal Audit, Controls, and Regulatory 4 Hours
Compliance
1. Contract Compliance and Cost
Recovery

2. Internal Audit Strategic Sourcing


13. Quick Response Auditing
Course Objectives
Urgent questions and
concerns require quick audit
response while maintaining
quality, focusing on user
needs, and conforming to the
Government Auditing
Standards. Determine when it
is appropriate and how to
offer clients alternatives to
classic “full scope” audit
coverage, and how to
establish an auditor-client
relationship conducive to
quick delivery of products.
Learn how to tailor audit
objectives, approaches and
products to better meet
immediate client needs.
Drawing on multiple case
3. Financial Institution Internal Audit
4. Internal Control Optimization
5. Quality Assessment Review
6. Sarbanes-Oxley Compliance
7. Financial Institution Regulatory
Compliance and Internal Audit
Governance and Risk Management
1. Enterprise Risk Assessment and
Management
2. Fraud Risk Assessment
3. Technology Risk Assessment
Information Technology
Business Continuity Management
1. Disaster Recovery
2. Information Technology Audit
3. Information Technology Governance
Course Outline 2 Hours
The Mandate for Timeliness
Assessing Conditions for Quick Response
Audits
Framing Objectives for Timely Audit Results
Narrowing the Scope to Audit Quickly
Quick Response Audits in Accordance With The
Yellow Book
Reporting the Results Quickly: The Final Hurdle
Non-audit Services: An Alternative Solution to
Auditing
Learning Outcomes:
• Discuss why timely receipt of audit results
has become increasingly important to relevant
stakeholders.
• Identify appropriate conditions for quick
response audits

14. The Governmental Audit-
From Planning to Follow-up
Course Objectives
If you have been assigned to
only portions of a
performance audit and need
an overall perspective of the
process, this course is for you.
Improve your knowledge and
skills related to all phases of
the performance audit and
the evaluation of results. By
working a case study
throughout the course,
experience a complete audit,
including preparing an audit
justification, planning and
conducting a survey, planning
the audit and preparing a
report.
15. English / French
(Optional)
16. REAL LIFE SCENARIOS
(Case Studies)
• Describe techniques for limiting the number
and breadth of audit objectives to facilitate
quick audits
• Identify techniques for limiting audit scope
• Examine the flexibility in relevant Standards
that can be leveraged to foster quick response
in audit engagements
• Discuss the use of non-audit services in
delivering prompt information to auditors'
clients
Course Outline 4 Hours
1: Types of Audits
2: Internal Control
3: Audit Findings and Evidence
4: Conducting an Audit Survey
5: Part I of Case Study- Preparing a Survey Plan
6: Planning the Audit
7: Part II of Case Study- Preparing a Audit Plan
8: Implementing the Plan and Reporting the
Audit Results
9: Part III of Case Study- Reporting the Audit
Results
10: Part IV of Case Study- Follow-up and
Reporting the Follow-up Results
SATURDAYS
I. Case Studies ON
II. PLATFORM
III. AFTER
IV. TRAINING
ETC. SESSIONS