Overview

One of the primary responsibilities of the internal audit function is to communicate how an organization needs to change its behavior. Persuasive communication is thus an essential skill for all auditors.

In many cases the effectiveness of the audit itself can be impacted by the quality of the audit report. As such, it is critical that the report is professional and communicates the desired message in a clear, concise and unambiguous way, such that it can elicit management action.

Finally, the audit department is frequently measured on the quality of its primary output: the audit report. An audit report that results in a “change” for the better, is the only effective internal audit report that adds value to the organization

Course Outline

The Challenges Of Audit Reporting

  • Auditors perspective
  • Auditee perspective
  • Senior management perspective
  • Board perspective

Problems With Internal Audit Reports

  • What the reports say incorrectly
  • What the reports say, but they shouldn’t
  • What the reports don’t say, but they should

Exercise: Analysis of actual audit reports

Condition / Observation

  • Objective vs. Subjective
  • Judgmental vs. Factual
  • Root cause analysis
  • Visual presentation
  • Proof reading / best practices

Recommendations

  • Corrective
  • Preventive
  • Realistic vs. Idealistic
  • S.M.A.R.T.

Exercise: How to organize the content

Priority Rating Of Audit Reports

  • Linkage with report content
  • Linkage with priority of functional area
  • A holistic approach
  • Useful tool I template to assign priority to audit reports

Group Exercise: rate audit reports using the tool and template

Management Expectations From Audit Reporting

  • Meaningful
  • Relevance
  • Consistency
  • Prioritization

Report Structure

  • Condition / Observation
  • Effect / Exposure
  • Recommendations
  • Key Elements When Drafting An Internal Audit Report
  • Avoid “routinization”
  • Clear & Concise
  • Organize content for the “human”
  • Relevant to the audience
  • Formatting rules

Exercise–begin With The End In Mind: How To Create A Catchy And Effective Executive Summary

Effect / Exposure

  • Purpose
  • Language / Tone
  • Financial impact
  • Relevance

Risk Ratings Of Audit Observations

  • Linkage with report content
  • Linkage with exposure
  • A holistic approach
  • Useful tool I template to assign risk rating

Exercise: rate audit observations using the tool and template

Abu Dhabi National Exhibition Centre

Abu Dhabi National Exhibition Centre

Since last two years My Company is working with Simfotix, and every time it is great learning experience. MS Excel is one of the most recommended Program with distinctive methodology and valuable deliverables.

Etisalat

Etisalat

A very good training by Simfotix on HRBP with their International Partner Human Capital Institute. We covered high level including strategy.

Dubai Islamic Bank

Dubai Islamic Bank

Great training course and materials. Super helpful to learn shortcuts and their best application. Thank you!

Imdaad Group

Imdaad Group

The in-house training met the desired objectives for improvement in the Finance function. Group work throughout the two days and team presentation on various analytics put thing in the focus learning direction. Good output Simfotix.

Finance House Abu Dhabi

Finance House Abu Dhabi

Inhouse Training with Simfotix Training for Credit Transformation Program goes with a Wonderful learning experience of our Credit Risk Team. Looking forward to engage them in other upcoming training.

Abu Dhabi Terminals

Abu Dhabi Terminals

A combination of learning and sharing through activities and self presentations. Learning Art of Public Speaking with Simfotix Training is truly a good experience.

Arab Bank, UAE

Arab Bank, UAE

The session was engaging and informative. Overall program outcome is what we agreed and delivered to department.

Emirates Islamic Bank

Emirates Islamic Bank

Simfotix In-House training is well organized and our team learned lot of new things. We consider this as a value addition and meeting our objectives.

Ministry of Human Resources & Emiratization

Ministry of Human Resources & Emiratization

A very good training we attended with Simfotix Training.

Al Ghurair Group

Al Ghurair Group

Easy way of transferring knowledge makes the learning more digestible. Great work Simfotix for the in-house session of Advance Excel.

MAF Carrefour International

MAF Carrefour International

Thank you Simfotix for a comprehensive and value training to our Saudi Arabia Finance Team. Case Study and exercises were the key element of this workshop. As Learning & Development we are satisfied to work with them in future.

DU Telecom

DU Telecom

Selecting Simfotix as sour training and learning development supplier is a wonderful experience. They have done various inhouse programs. Their trainers carry in-depth knowledge and expertise and kept the participants well engaged.

The Executive Council of Dubai

The Executive Council of Dubai

Simfotix Trainer bear a Persuasive approach in training and the company is professional in the arrangement of training till end to make it a memorable experience. The In-house session and the follow-up session is excellent approach.

Department of Economic Development, Dubai

Department of Economic Development, Dubai

Excellent Training conducted by Simfotix Professional Development. The whole day was full of fun and learning in Advance MS Excel.

Course Materials

It is very important to analyze the need for Training along with the level of knowledge you require. This session give you a liberty to choose the modules you need, discuss it with the trainer how you want to be delivered, decide the place at your convenience and allocate number of hours to solve your problem. This does not include any development as a consulting but will include solution if you are facing a particular problem.