2 Day Professional Certificate in Performance Audit and Risk Based Project Auditing
Rapidly Evolving Auditing & Regulatory Environment
Auditing as a profession is evolving rapidly, thus it’s imperative that you must continue to enhance your skills set to improve audit processes that will adhere to regulatory changes. To value add, auditors must provide a wider focus than just compliance and financial auditing by assessing operational efficiency and assessing risk and control measures.
2 Day Masterclass in Risk Based Project and Performance Auditing (40% PIC Funded)
We are proud to offer this cutting edge 2 Day Auditing Masterclass for all accounting, finance and auditing professionals. Facilitated by Professor Yawar Zoeb (Fellow CPA) who specializes in Corporate Governance and internal auditing across Australia and Asia. He brings with him over 20 years to help you gain hands-on practical skills based on the latest international accounting and auditing standards.
Day 1: Conducting Risk-Based Project Auditing
Most often than not, the scrutiny of projects can provide assurance that projects are managed in a way that mitigates risks. Without monitoring, projects can spin silently out of control. At some point, it may be apparent that the project is over budget, late or both. However, by this time, resources and time have generally been wasted, often without achieving key project goals. Such costs can run into the millions. This masterclass allows you to learn what to look for so you can successfully plan, manage, audit and monitor projects.
Day 2: A Practitioner Approach to Performance Auditing
Performance Auditing provides a systematic and structured approach to assessing organizational performance, including how well the organization is meeting goals and objectives. Widely used in government agencies and MNCs, performance audit can also unlock ambiguity in interpreting results and help an organization focus on planning, achieving and reporting on its goals and progress. This masterclass focuses on critical planning aspects, techniques for conducting performance audits, and standards and techniques for reporting audit results using a case study approach.
Through case studies, group discussions and facilitator presentations, you will
- Expand your auditing knowledge beyond financial and compliance auditing.
- Learn to identify risks, perform risk assessments, develop a risk-based assurance plan, understand entity-wide controls, and plan a risk-based engagement.
- Identify, manage risks and improve compliance controls to meet regulatory standards and requirement.
- Outline the requirements and standards for reporting on performance audits Learn how performance Auditing can improve an organization’s performance and the value that performance audits can offer.
- Learn how to plan and undertake performance audits using qualitative and quantitative measures to holistically assess performance.
- Learn how performance auditing can be used to increase business effectiveness and profitability.
- Discuss performance audit results and recommendations based on finding
Who Should Attend?
Accounting professionals and Auditors who wish to undertake Risk Based Project and Performance Audits.
- CEOs, CFOs, CIOs, Directors, Risk and Governance Professionals. Management Accountants, Project Analysts who wish to review and evaluate performance of an organization.
- Business Managers, General Managers who are responsible for managing and evaluating performance of their business units.
- Governance and Executive Oversight Committee members who wish to be familiar with the Project Risk and Performance Audit Methodology.
“Good content and highly practical knowledge. Good learning experience from Professor Yawar.” Charith Udayanga, Finance Manager, Transnational Logistic
“Prof Yawar is a good presenter which make time to answer all my queries, very enriching and practical learning” Franklin Chong, Finance Controller, Gallery Hotel
Industry Expert: Professor Yawar Zoeb (Fellow CPA)
Professor Yawar Zoeb (Fellow CPA) specializes in Corporate Governance and Financial Management and brings with him over 20 years of professional experience in both public and private sectors in Australia, India, Papua New Guinea and Singapore.
Professor Yawar’s approach “One of the greatest myths in corporate governance is that narrowness means focus and consistency means stability. I find it immensely rewarding in helping clients find solutions in improving their governance processes, managing risks and developing strategies that not only are tailored to their environment but are also dynamic in giving them assurance in an ever changing business world”. He currently divides his time between managing the Corporate Governance and Internal Audit function for the Department of Health, Western Australia.
1. Conducting Risk-Based Project Auditing
Mitigating Risks and costs by successfully auditing and monitoring key projects
- Introduction to Project Management.
- Project Governance Framework and supporting structures.
- Develop an appreciation of a project risk management framework
- Implementing internal controls to mitigate and management risks
- Setting key project performance indicators, both, qualitatively and quantitatively
- Auditing projects and project lifecycle assurance opportunities
2. Performance Auditing – Auditor’s View and Considerations of Internal Control
- Performance Auditing – Why is it different
- Methodology for conducting Performance Auditing.
- Criteria used to assess and report performance.
- Looking at the business through management’s point of view.
- Different approaches to assessing performance.
- Risk and control frameworks
- Measuring the impact and communicating the results.
- Case study on Performance Auditing.
3. Global best practice – Master class featuring recently conducted real Project and Performance audits
- How were they done
- What did they find
- What approach did they adopt
- Why did they select the project
- Who were the stakeholders
- What were the lessons learnt and benefits realized
- Where were the key risks
- Which areas yielded most benefits for performance and project audits
- When is a good time for an audit
4. Case Study and Reflection
This will be followed by hands on case study to be completed by group work, reflection and sharing amongst the participants.