Course Objectives

• Familiarizing participants with modern concepts of internal control and auditing, their components and structures, and institutional control in accordance with international standards recently issued, and strategies for designing and evaluating the internal control systems for operations, and auditing strategies in the light of international auditing standards.
• Enabling participants to acquire the skills of designing, inspecting and evaluating the internal control system
• Enabling participants to acquire the skills of internal audit risk assessment, and how to prepare management reports professionally
• Providing the knowledge and skills of participants with practical expertise and experiences in the area of designing and evaluating the internal control systems for operations in institutions.

Who Should Attend?

• Directors and heads of sections, sectors and units of internal audit and review, financial managers and assistants, financial analysts and decision makers specialist those who are rehabilitated to hold the aforementioned positions, and those who wish to develop their skills and abilities in the area of review and internal audit in institutions.

Course Schedule

The concept, role and function of internal review

• The concept and nature of internal review.
• The concepts of internal control, control environment and control procedures.
• Institutional control (corporate governance) and risk management.
• The objectives, validity, duties, responsibilities and procedures of internal review.
• Performance standards, fraud and abuse of resources.

Strategies for designing and evaluating internal control systems for operations

• The objectives of internal control systems and their relationship to the prevention and detection of fraud and error.
• Internal control system for cash operations and the fund.
• Internal control system for procurements and warehouses.
• The system of internal wage and salary control.
• The system of internal control of the covenants and the advances.
• System of internal control of revenue and expenses.

Audit strategies in the light of international auditing standards

• International auditing standards and the reasons for their issuance and compliance.
• International standards governing auditing and review of financial accounts.
• The objective and scope of the review of the financial statements.
• Fundamental principles governing review processes.
• Papers and procedures for the preparation of the review process.
• The technical means needed to carry out the review process.
• Report of the auditor on the financial statements.

Strategies for inspecting and evaluating the structure of internal control systems

• Structure of the internal control system.
• Standards of effectiveness of the internal control structure under the Sarbanes-Oxley Act.
• Preliminary inspecting of internal control.
• Review tests to inspect the internal control system.
• Criteria for the inspecting and evaluating the effectiveness of internal control.
• Procedures and phases for evaluating the effectiveness of internal control.
• Detailed tests of internal financial review (assets, liabilities, income, expenses).
• Detailed tests for value-for-money review, information technology, operational and management review.

Audit risk assessment and review report preparation

• Natural, types and filter risks.
• Studying and evaluating audit risks in accordance with American, British and international auditing standards.
• Internal audit role in risk management.
• System of internal control and risk management.
• Methods and types of management report.
• Internal review reporting stages..
• The form and content of the internal audit report.