IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Internal Auditing Fundamentals

$199.00

SKU: 409684

Description

Understand the fundamentals of the internal audit function and recognize key risks when preparing for an internal audit.
An audit is timeconsuming and stressful and can easily lead to negative consequences. A lack of understanding of how audits are structured and conducted hinders the process every step of the way. Although this course focuses on internal audits, or audits that an organization conducts upon itself, all audits are designed and performed in a similar manner. If you are the subject to an audit, this material will help you understand the process and will illustrate psychological techniques to thwart the auditors efforts every step of the way. If you are conducting the audit, this information will explain how not to get thrown off track by common tricks and traps. Whether you want to tank an audit or prevent it from getting derailed, this course provides unique insights you need to know before facing an audit.

Date: 2022-10-25 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to describe how audits are planned and performed.

* You will be able to define different types of risks and controls to mitigate risks.

* You will be able to discuss different methods of collecting and verifying audit evidence.

* You will be able to recognize potential psychological tricks and traps that hinder audits.

Introduction
• Defining Audits, Including Expectations and Limitations
• Control Framework: A Great Guide to Get Started or to Hone Your Skills
• The IIA, Certification, Internal Audit Departments

The Audit Process • Start to Finish, but Not a Linear Process
• Planning
• Conducting
• Completion

Technical Terms in an Easy-to-Understand Format
• Risks
• Controls
• Other Key Audit Elements

Tips and Techniques to Prevent an Audit From Being Successful
• Overall Goals
• Evidence
• Additional Considerations

Conclusion • Keeping Things in Perspective
• Always Focus on Risks
• Audits: Sometimes a Necessary Evil, Sometimes to Be Loved
• Questions and Answers

CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Allen Pfeister, CPA, MBA, CIA, CMA, CFM-Greenback Expat Tax Services

IRS Form 1099, 1099-NEC, and Form 1099-MISC: Advanced Issues and Updates

Internal Auditing Fundamentals

$199.00

SKU: 407069

Description

Understand the fundamentals of an internal audit and recognize key risks and objectives when preparing for an internal audit.
Many people outside of internal audit groups do not understand the benefits of internal auditing. They believe internal audits only revolve around financial items and are similar to external audits. There are several types of internal audits that are not only compliance oriented but opportunities for process improvement and saving money. Part of the responsibility of the internal auditor is sell the positive attributes of internal auditing. The topic will include how to perform internal audits and sell your findings and conclusions. There will be stories from the field such as the Big Red Button, the oily fingers audit that saved over 1 million and how an internal audit turned a companys 300 million division to a profit versus a deficit for the year. There will also be a discussion on getting out there in the field (site visits, calls, and observations). This material will also review internal audit reporting at various levels and discuss the benefits of networking and training in internal audit field and your industry.

Date: 2020-07-13 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to describe the fundamentals of an internal audit in a positive light.

* You will be able to discuss how an internal audit can assist an organization meet its objectives and report on your findings andor how the organization under audit is meeting its objectives.

* You will be able to explain the different types of internal audits and the difference between internal and external audits.

* You will be able to recognize key risks and audit objectives.

History of Internal Audit
• Milestones (Examples 1 and 2)
• 1941 Institute of Internal Audit (IIA) Established
• 1989 United Nations Grants Consultative Status to the IIA
• How Internal Audit Has Evolved

Type of Audits Definition
• Auditing Versus Accounting
• Types of Internal Audits
• Operational
• Financial
• IT
• Compliance
• Management (Performance)
• Fraud
• Follow-up
• Continuous
• Management Consulting
• Combination Audits

Internal Audit Standards
• Standards Established by the IIA
• Examples Include Independence and Planning

How-To and Examples
• Establish Objectives
• Identify Risk
• Effective Fieldwork
• Report Communication
• Networking

CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

David Naser-JPAssociates, Inc.