2 0 0 8 Boost your productivity by

mastering innovative audit!

10 – 14 August 2008
Al Murooj Rotana Hotel,
Dubai, UAE
S e ri e s

Innovative Audit Reporting

10 – 11 August 2008
Attend This Best Practice Course To:
• Discover 100 ways to improve your reports
• Enhance the impact of your reports significantly
• Make your reports easier to write, easier to review and easier for management to implement
• Improve the acceptance and implementation of your recommendations with proven techniques

Advanced Audit Skills

S u m m e r

12 – 14 August 2008
Attend This Advanced Course To:
• Improve audit performance, success and reputation by adopting the most up to date audit techniques
• Market the internal audit service effectively
• Adopt proven methods to automate the audit process
• Enhance your coverage by auditing more challenging and interesting areas of the business
• Add measurable value to your organisation by delivering world class audit services
• Enable your organisation to combat the risk of fraud

Who Should Attend?

 
Audit professionals seeking fresh perspectives and advanced techniques in Middle East audit
reporting including, but not limited to:
• Heads of Audit Department
• Auditing Directors Register Before
• Internal Auditors 15 June 2008
• Auditing Managers
I I R

• Auditors
For Your Chance To Win
• Financial Manager A Nokia E90!
See back page for details
Organised by: Supported by:
Official Regional Recruitment Partner Official IT Partner Official Media Monitoring Partner

www.iirme.com/audit

Dear Audit Professional,
Internal audit is fast becoming one of the most important business
functions to Middle East companies. However, in order to enable
this department to be recognised as truly value-adding, its leaders
must gain fresh, new perspectives on how they execute their
quintessential auditing functions.
Innovative Audit Reporting brings new auditing angles to the
table by exploring alternative methods to improve your audit reports,
enhance their impact and make them more acceptable, reviewable
and implementable.
As an essential, complementary course, Advanced Audit Skills
enables you to master your auditing ability and be recognised
company-wide as a truly value-adding employee.
Through five interactive days, these two comprehensive,
complementary courses are led by the renowned Phil Griffiths,
lauded for previous courses as “innovative yet practical” and
“amazing when discussing modern challenges”. Phil Griffiths,
Managing Director of Business Risk Management Ltd., has built
a reputation in the Gulf region as an incredibly beneficial course
leader who will enable you to implement international expertise in
this unique Middle East environment.
Even more, copies of extensive research material and electronic
models including a world renowned audit planning model will be
made available to you.
Take the initiative now to jump-start your career and gain
recognition as a value-adding audit professional by signing up
today!
Phil and I look forward to meeting you in August.
Yours sincerely,
Keith Parker
Conference Manager
P.S. You are asked to bring along two or three recent audit
reports. These are solely for your own reference.
P.P.S You will receive an electronic version of a best practice
audit manual!
Forthcoming Relevant Events
BC2571 Essentials Of Internal Audit
13 – 17 April 2008 www.iirme.com/internalaudit
BC2587 Risk Based Audit
4 – 8 May 2008 www.iirme.com/rba
A0922 Fraud 2008
8 – 12 June 2008 www.iimre.com/fraudconf
For more information on any of the above events please contact us on
Tel: 971-4-3352483 or email: info@iirme.com
Tel: 971-4-3352437 Fax: 971-4-3352438 Email: register@iirme.com Web: www.iirme.com/audit
Meet Your Expert Course Director
Phil Griffiths FCA, AIIA is Founder and Managing
Director of Business Risk Management Ltd.
A Chartered Accountant, he has over 25 years’
experience in internal audit, risk management and
fraud prevention as practitioner, professional
adviser, consultant and trainer. He has held top
management positions with a number of
international groups, in roles embracing finance, internal audit, risk
management, IT and general management.
His areas of expertise include:
• Assisting senior management to identify, manage and then exploit
the risks within their business via facilitated business risk
management programmes
• Helping internal audit functions to implement world class
standards
• Benchmarking internal audit and risk management – the BRM Ltd.
database has information from over 2000 organisations across
the world
• Fraud prevention, detection and investigation programmes
tailored specifically to clients requirements
• Training both private and public sector organisations in all the
above disciplines
Phil is recognised as an accomplished and charismatic facilitator,
trainer and lecturer having advised many renowned organisations,
coordinated top-level events and addressed national and
international conferences on a wide range of critical business topics.
He has published research into many aspects of the audit and risk
management challenges faced by organisations, the latest being his
new book ‘Risk Based Auditing’.
He has worked extensively with all sectors in the Gulf during the past
13 years to enable such organisations to exploit their potential by
managing their strategic risks and/or enhancing the effectiveness of
their internal audit services.
Is this the right course for you?
5. Heads of audit forum – solely for heads of internal audit or
those who have been appointed to a HOA role
4. Primarily for audit managers and senior auditors with more
than 2 years experience
3. For auditors with 18+months experience – the courses are
designed primarily for senior auditors
2. Suitable for those personnel in other assurance functions
including compliance and health safety and environmental
auditors etc who need to build their leadership skills
1. Also suitable for managers and staff from other functions
who need to build an understanding of the internal audit role
Course Methodology

Both courses will be highly practical and interactive with exercises and case studies to enhance your understanding of the key issues including
how to:

• Deal with the common problems of audit reports which often: • Assess your reputation
- Have too many pages and unnecessarily long explanations • Create risk based audit plans
- Take too long to issue and finalise • Automate the audit process
- Have impractical recommendations • Enhance the level of assurance you can give without the need to
- Do not get commitment by management increase the time on each audit
• Critically assess your own reports • Understand the corporate governance challenges
• Create a best practice report • Combat the risk of fraud
• Set your own key performance indicators • Audit the reputation of your organisation

Course Timings

Registration will commence at 08:00 on day one of each course. The courses will begin at 08:30 each day. There will be two breaks for
refreshments at around 10:30 and 12:30. Lunch will follow at close of day at 14:30.

Innovative Audit Reporting 10 – 11 August 2008

Course Outline
Internal audit reports and the reporting process should be constructive, creative and provoke change. In this age of innovation and challenge,
conventional audit reports and reporting procedures may fail to arouse interest, stimulate action, or do justice to the audit performed.

Answer these 20 questions about internal audit reports issued during the last 12 months as truthfully and objectively as you can.

1. Have more than 95% of audit recommendations during the last year been fully and successfully implemented?
2. Did your reports correlate with your organisation’s strategic and business objectives? Do your audit recommendations specifically assist in
their achievement?
3. Were all of your reports less than six pages?
4. If you were the recipient would they have spurred you into immediate action?
5. Did all the reports take less than two weeks to finalise?
6. Were all of your findings or recommendations different from the last time an audit of the same area was carried out?
7. Was the cost of completing the audit shown on the face of the report?
8. Did the reports include photographs and graphics?
9. Were they issued electronically?
10. Were there any surprises?
11. Did the reports focus on the future rather than the past?
12. Did the management comments indicate real commitment rather than simply a way for the “The event was just great!”
client to close the audit process and get on to something else? Faleh Al Anjani, Auditor
13. Was the audit opinion a true reflection of the overall conclusions? Did the key recipient Sabic, KSA
accept this audit opinion as valid?
14. Did the findings, conclusions and recommendations really represent the key issues?
15. Did you only report on the major issues found during the audit with the minor issues being
“The Middle East is catching up in
dealt with separately? with the skills, theories and concepts
16. Were all the recommendations 100% practicable? discussed.”
17. Were all the audits conducted fully recognised by the organisation as helpful and relating Sohel Merchant, Assistant Manager,
to key business risks or opportunities? Management Assurance
18. Were the reports a true reflection of the expertise, knowledge and professionalism that
WJ Towell & Co (LLC), Oman
went into the audits?
19. Have you changed the report format significantly within the past two years?
20. Do you believe that your reports are as good as they could be? “It was a very valuable event, and I
really learnt a great amount from it.”
If you cannot answer ‘Yes’ to more than 15 of the questions it is unlikely that your audit reports Gamil Zaki, Internal Audit Officer
will meet the needs of your organisation. If you scored 10 or less you are probably being more
EFG Hemes Holding Co, Egypt
objective than those who scored themselves 15 or more (And you will represent very much the
normal organisation as far as audit reports go!)

Tel: 971-4-3352437 Fax: 971-4-3352438 Email: register@iirme.com Web: www.iirme.com/audit

Day One – Sunday, 10 August 2008
Audit Reporting And Impact
Audit Reports – Your Shop Window
• Challenges of audit reporting
• Who are the reports really for?
• How do you know a good report when
you see one?
• What management expects – recent survey
of chief executives
• Professional standards
• The need for reports with impact
Exercise 1: Characteristics Of A Successful
Report
The Problems With Audit Reports
• The 20 questions – how did you score?
• What are the factors impacting
achievement of these best practice
measures?
• Tips, techniques and ideas to help you
score 20 out of 20
Exercise 2: 20 More Best Practice Questions
• Discussion of the implications
• Advice and guidance to help you achieve
best practice
• Explanation of a proven method to
evaluate your own reports
Exercise 3: Analysis Of Two Actual Reports
• Feedback and discussion
Exercise 4: Assessment And Evaluation Of
Your Own Reports
Advanced Audit Skills
Course Outline
Day One – Tuesday, 12 August 2008
Planning And Automation
The Internal Audit Role
• Audit’s primary roles, objectives and
concerns
• What is best practice? – sharing results of
recent benchmarking surveys
• The role of the function – policeman, risk
assessor or consultant?
• The reputation of the function and how to
assess it
• Key performance indicators
Tel: 971-4-3352437 Fax: 971-4-3352438 Email: register@iirme.com Web: www.iirme.com/audit
• Self evaluation against the model provided
(you are asked to bring along two or three
recent reports – for your own use)
• Key challenges and their implications
Best Practice Internal Audit Reports – The
Way Forward
• Key requirements of the audit report of the
future
• How to draft a report with impact
• Highlighting the issues that matter
• The psychological problem with reports
• Why audit reports are taken as a criticism
of management
• How to get recipients to react positively
• How to write balanced reports
• Format and structure
• Wording and layout
• How to get 95% of your recommendations
actioned
Exercise 5: Role-Play – Meeting With Senior
Management To Discuss The Key Issues
Day Two – Monday, 11 August 2008
Implementing Best Practice Audit
Reports
The Executive Summary
• The messages you want the board to hear
• How to ensure no overreaction
• Including positive comments
• How to keep it short and focused
Exercise 6: The Executive Summary
The Main Report
• Audit objectives
• Scope
• Forming and expressing the audit opinion
Exercise 9: Assessing The Reputation Of
Your Function
Audit Planning
• Determining the level of assurance required
• Identifying the audit universe
• Strategic audit planning
• Best practice audit risk planning model (an
electronic version will be provided)
Exercise 10: Strategic Audit Planning Using
The Model
• Sources of work
• Managing audit requests
• Benefits and deliverables
• Conclusions
• The power of senior management
comments
• Words and phrases to avoid
• Best practice format
• Reducing the number of words
• The power of pictures and graphics
• The need to relate the issues to objectives
and risk
• Recommendations and actions
• Action plans
• Dissemination of a best practice report
template
Exercise 7: Redrafting The Objectives,
Scope And Audit Opinion
Presenting And Distributing Reports And
Measuring Success
• Distribution lists
• Presenting or issuing reports (including use
of e-mail and the intranet)
• Alternative methods of reporting e.g.
PowerPoint presentations
• 20 steps to success
• Follow up audits – using the action plan
• How to get management to take
responsibility for chasing actions
• Determining your reporting Key
Performance Indicators (KPI’s)
Exercise 5: Reporting KPIs
Writing A Report In The Best Practice
Format
Interactive Exercise: Taking a long report of
your own – ideally one with more than 15
pages – and turning it into the six page best
practice format. A report should be brought
along for the purpose.
12 – 14 August 2008
• Audit programme development
• Assignment planning and control
• Fieldwork techniques
Exercise 11: Fieldwork Techniques
• How to cover specialist areas
Audit Automation
• Computer assisted audit techniques
• Covering the whole population of data
rather than just a sample
• Benfords Law and its importance
• Options available
Demonstration of ACL – the market leading
audit software solution
Marketing Of Internal Audit
• Success measures
• Methods of marketing
• Key Performance Indicators (KPIs)
• Tools and techniques
Exercise 12: Marketing The Function
Day Two – Wednesday, 13 August 2008
Pushing The Barriers Back
Skills Required
• Results of recent surveys
• Outlining the broader range of skills
needed
• Is internal audit a career or a stepping
stone?
Exercise 13: Audit Skills
• How to carry out a skills inventory
• Facilitation skills – tips and techniques
• How to recruit personnel with the skills you
need
• Achieving a blend of experience,
competencies and innovation
Exercise 14: The Skills Inventory
Relationships With The Board And Audit
Committees
• Board requirements of internal audit
• Developing regular contact with the chief
executive
• Role of the audit committee
- The audit committee relationship – how
to develop this
- Evaluating audit committee requirements
- How to anticipate requests etc.
- How to develop effective audit
committee reports
- External audit relationships
Exercise 15: The Audit Committee / Board
Report
Fraud And The Internal Audit Role
• Fraud explained: definitions and nuances
• Who commits fraud?
• Trends and statistics regarding detected
fraud
• Why fraud is probably being perpetrated
now in your organisation
• Fraud case histories and the lessons to be
learned
Exercise 16: Typical Fraud Scenario
• Fraud indicators
• Spotting the danger signs
• Auditors fraud toolkit
• Proactive fraud detection
• Anti-fraud policies
Tel: 971-4-3352437 Fax: 971-4-3352438 Email: register@iirme.com Web: www.iirme.com/audit
• Use of data mining
• Fraud profiling – how to target the right
systems
• How to get the information you need
Exercise 17: Identifying The Fraud Risks
Day Three – Thursday, 14 August 2008
The New Challenges For Internal
Audit
Risk Based Assurance
• Why is corporate governance so
important?
• The enhanced role of stakeholders
• Risk based audit
• The need to translate the key risks into the
basis of the IA programme
• The options for internal audit involvement in
risk evaluation
• Controling risk self assessment
• The need to coordinate the various
assurance providers
• How to focus your audit attention
Exercise 18: Major Risks In Your
organisation
Audit Manual
• Job descriptions
• Audit methodology
• Annual and quarterly audit plan
• Time recording
• Interpersonal awareness
• Personnel to interview determination
• Pre-audit PowerPoint
• Audit testing
• Methods of testing adopted
• Clearance meeting
• Audit classification
Exercise 19: What Makes A Good Audit
Manual?
You will receive an electronic version of
a 64-page best practice audit manual
Benchmarking Internal Audit
• The power of benchmarking
• Internal quality assurance
• The need for external evaluation as per the
IIA standards
• The need to give comfort to the audit
committee regarding best practice
• Introduction to a unique benchmarking
template
• Explanation of the 11 sections
- Corporate governance and the internal
audit role
- Professional standards
- Audit charter
- The audit committee relationship
- Skills, training and resources
- Strategic audit planning
- The audit manual
- Completing the audit
- Audit reports
- Measuring performance
- Marketing the function
• Explanation of the scoring system – 200
areas with a maximum overall score of
500
Exercise 20: Completing The Benchmarking
Template
Course Summary And Close
Courses Include Extensive Documentation
And A Copy Of The Following:
• Phil Griffiths’ research report into the
expectations of chief executives towards
internal audit and its future
• Phil’s acclaimed work entitled ‘Optimising
Assurance’
• The 64 page BRM internal audit manual
• An electronic copy of the best practice
audit planning model and report templates
Visit Dubai This Summer!
Dubai is an Emirate of captivating contrasts.
From the timeless tranquillity of the desert to
the lively bustle of the souk, Dubai offers a
kaleidoscope of attractions for visitors.
In a single day, you can experience everything
from rugged mountains and awe-inspiring sand
dunes to sandy beaches and lush green parks,
from dusty villages to luxurious residential
districts, and from ancient houses with
windtowers to ultra-modern shopping malls.
The Emirate is both a dynamic international
business centre and a laid-back tourist escape;
a city where the sophistication of the 21st
Century walks hand in hand with the simplicity
of a bygone era.
These contrasts give Dubai its unique flavour
and personality; a cosmopolitan society with
an international lifestyle, yet with a culture
deeply rooted in the Islamic traditions of
Arabia. Since earliest times, Dubai has been a
meeting place, bringing together the Bedouin
of the desert interior with the pearl-diver, the
merchant of the city with the sea-going
fisherman.
Dubai Summer Surprises (DSS) is an annual
festival focusing on providing fun, knowledge
and entertainment through a medley of events
that puts the ‘pep’ back into summer for both
adults and children.
Each week from June to August, a series of
weekly themed surprises unfold. Shopping
malls become entertainment hubs providing
shows and hosting special activities based on
the different surprises.
Combine business with leisure this summer!
Enjoy discounted hotel packages and treat the
family to a fun-filled holiday!
 Innovative Audit Reporting
IIR Middle East certified by

Advanced Audit Skills

10 – 14 August 2008 • Al Murooj Rotana Hotel, Dubai, UAE ISO 9001:2000

FIVE EASY WAYS TO REGISTER

971-4-3352437 971-4-3352438 register@iirme.com

IIR Holdings Ltd. GCS/IIR Holdings Ltd.

PO Box 21743, Dubai, UAE P O Box 13977, Muharraq, Kingdom of Bahrain

www.iirme.com/audit

Your chance to win a Nokia E90 each week!

Register for a training course before 15 June 2008 in the Summer Series and you will
automatically enter our monthly prize draw to win a Nokia E90.
Each month’s winners will be contacted directly and the prize awarded at the
course. A full list of winners will be announced on our website www.iirme.com

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