In the coming twelve months, Causal Capital will be releasing a huge array of diverse and novel Audit Masterclasses that build on our leading Risk Based Audit practice.
Causal Capital Audit Masterclasses
Risk Based Audit
There are only a couple of Risk Based Audit workshops worth attending and this is one of them.
Last year Causal Capital delivered a considerable number of these sessions to internal auditors right across the GCC, and we will be launching this exciting program again, this time in Riyadh for the start of the year. You can find out more about the Saudi workshop here [LINK].
You can appreciate what to expect from this masterclass by checking out one of our sessions here [LINK]. This Risk Based Audit program moves smoothly through the fundamentals of performing a best practice risk-sensitive audit, and we teach how to apply straightforward models such as Decision Trees and even Predictive Analytics to audit tests as well as control assessments.
Auditing Credit Risk
Under popular demand, 2017 saw Causal Capital launching a new set of targeted functional audit skills transfer programs. The first of these masterclasses focused on the need to assess controls on all aspects of Credit Risk.
In this training program, auditors are stepped through the business practices of a receivables department taking in credit reporting, invoicing, lending, the products and new regulations for the management of credit risk. Auditors that need to review IFRS 9 reporting practices are finding this workshop invaluable. However, the course goes far beyond IFRS reporting and takes audit teams into assessing financial statements, financial ratios, credit assessment controls and much more.
If you were to ask a group of internal auditors "which is the most difficult department to audit?" ... someone in the group is invariably going to make a direct reference to the treasury unit. In a first, Causal Capital has developed a training program that helps auditors uncover the types of risks and controls that impact treasury, and this training covers trading practices, products, their economic purpose, valuation methods and much more. This workshop is so detailed that it is separated into two massive sessions, one for the front office or the 1st line of defense and the other session for the market and counterparty risk functions.
You can directly find out more about this masterclass by following the [LINK] here.
A growing concern for the whole Governance, Risk and Compliance space is understanding the way Corporate Culture impacts not only risk appetites in company but attitudes of staff who are responsible for controlling risk. Especially it seems, the finance and investment sectors have a heavy need to avert rogue behaviour for both trading or selling activities, and failure to do so tends to carry strict penalties these days. Boards are of course quite concerned and this new Auditing Culture masterclass helps auditors address these issues.
■ Receive a lifetime access to the Causal Capital learning portal
■ Develop a complete framework and approach for assessing corporate culture
■ Align Risk Appetite and Attitude in an Audit Assessment
■ Explore new ways to survey organisational cultural impacts
■ Scorecard business units inline with Corporate Culture
More information on this program can be found here [LINK].
IT Audits Beyond COBIT
Many internal auditors that are assessing the control effectiveness of an Information Technology environment are applying the principles of COBIT. In this extended program, auditors are able to lift their skills and fully comprehend how COBIT overlays with risk management and how it can improve assessments made by the 3rd line of defense.
■ Receive a set of IT Key Risk Indicators and learn how they help audit improve the quality of their audits
■ Practice mapping and aligning IT objectives into a business context
■ See how FMECA, Root Cause Analysis, BowTie, Fault Trees are used in IT audits
Please reach out to us for more information at the following [LINK].
Quantitative Audit Assessment
For all the delegates that have attended our Risk Based Audit workshop, we have the next progression in audit learning. QAA has been designed to help auditors perform deep dive assessments and assists in improving the quality of audit tests that are applied to business unit controls. Various models and auditor assessment techniques are explored through a set of real life case studies that makes this program easy to learn for all auditors.
Over the course of 2017, many of our clients asked us for a hands-on, risk enabled, forensic-level fraud assessment program and in the second half of this year, we will be releasing this exciting masterclass. Stay tuned for more information.