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Boost your productivity by

mastering innovative audit!

Innovative Advanced
Audit Audit
Reporting Skills
1 – 2 March 2009 3 – 5 March 2009
Attend This Best Practice Course To: Attend This Advanced Course To:
• Improve audit performance, success and
• Discover 100 ways to improve your reports
reputation by adopting the most up to date
• Enhance the impact of your reports audit techniques
significantly • Market the internal audit service effectively
• Make your reports easier to write, easier to • Adopt proven methods to automate the audit
process
review and easier for management to
• Enhance your coverage by auditing more
implement challenging and interesting areas of the
• Improve the acceptance and implementation business
of your recommendations with proven • Add measurable value to your organisation by
delivering world class audit services
techniques • Enable your organisation to combat the risk of
fraud

1 – 5 March 2009 • Crowne Plaza Hotel (Sheikh Zayed Road), Dubai, UAE

Who Should Attend?


  Organised by: Official Regional
Audit professionals seeking fresh perspectives and Recruitment Partner
advanced techniques in Middle East audit reporting
including, but not limited to:
• Heads of Audit Department
• Auditing Directors
• Internal Auditors
• Auditing Managers
• Auditors
• Financial Managers
www.iirme.com/audit
Tel: 971-4-3352437 Fax: 971-4-3352438 Email: register@iirme.com
Meet Your Expert Course Director
Dear Audit Professional,
Phil Griffiths FCA, AIIA is Founder and Managing
‘Innovative’ and ‘Audit’ may not traditionally go hand in hand Director of Business Risk Management Ltd.
but as a professional in the field you realise that marrying the
two is anything but oxymoronic. A Chartered Accountant, he has over 25 years’
experience in internal audit, risk management and
fraud prevention as practitioner, professional
You’re audacious, you’re ambitious and you’re well aware
adviser, consultant and trainer. He has held top
that it’s high time for an autopsy on your auditing techniques. management positions with a number of
The face of the industry is changing and with a new set of rules, international groups, in roles embracing finance, internal audit, risk
comes a new set of skills to master. management, IT and general management.

His areas of expertise include:


As a progressive audit practitioner who strives for consistent
• Assisting senior management to identify, manage and then exploit
growth, your vision is world-class and you realise that long term the risks within their business via facilitated business risk
survival in today’s competitive marketplace means delivering management programmes
impeccable products and services. • Helping internal audit functions to implement world class
standards
• Benchmarking internal audit and risk management – the BRM Ltd.
That is why we are confident that you will benefit
database has information from over 2000 organisations across
overwhelmingly from two highly interactive, value-adding IIR the world
courses taking place in Dubai this March. • Fraud prevention, detection and investigation programmes
tailored specifically to clients requirements
An advanced and innovative auditing strategy coupled with • Training both private and public sector organisations in all the
above disciplines
effective implementation can greatly enhance the departmental
value added and company-wide support of your auditing Phil is recognised as an accomplished and charismatic facilitator,
department. As you know, expertise in auditing is essential to trainer and lecturer having advised many renowned organisations,
maintaining a stable foundation from which your company can coordinated top-level events and addressed national and
effectively compete in the Middle East environment. international conferences on a wide range of critical business topics.

He has published research into many aspects of the audit and risk
Through five interactive days, these two comprehensive, management challenges faced by organisations, the latest being his
complementary courses are led by the renowned Phil Griffiths, new book ‘Risk Based Auditing’.
lauded for previous courses as “innovative yet practical” and
“amazing when discussing modern challenges”. Phil Griffiths, 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 Director of Business Risk Management Ltd., has built
managing their strategic risks and/or enhancing the effectiveness of
a reputation in the Gulf region as an incredibly beneficial course their internal audit services.
leader who will enable you to implement international expertise
in this unique Middle East environment.
Is this the right course for you?
Open the door to a new realm of opportunities by registering
today for IIR’s Innovative Audit Reporting and Advanced Audit *5
Skills.
Risk Based
Auditing *4
Register on the phone, by email, online or by fax! See the
back page of this brochure for more details, including
information on our significant early bird discounts! Innovative Audit Reporting
and Advanced Audit Skills
*3
Phil and I look forward to seeing you in March.
Lead Auditor – for auditors with 12-18 months
experience or auditors responsible for
Best Regards, supervising teams *2

Essentials of Internal Audit – for newcomers to the


audit role – those who are about to be appointed to the
role *1
Keith Parker
Conference Manager 5. Heads of audit forum – solely for heads of internal audit or
IIR Middle East those who have been appointed to a HOA role
4. Primarily for audit managers and senior auditors with more
P.S. You are asked to bring along two or three recent audit than 2 years experience
reports. These are solely for your own reference. 3. Designed primarily for senior auditors with 18+ months
experience
P.P.S You will receive an electronic version of a best practice 2. Suitable for those personnel in other assurance functions
audit manual! including compliance and health safety and environmental
auditors 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

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


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 close of day at 14:30.

Innovative Audit Reporting 1 – 2 March 2009

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 client to close the
audit process and get on to something else?
13. Was the audit opinion a true reflection of the overall conclusions? Did the key recipient 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 dealt with separately?
16. Were all the recommendations 100% practicable?
17. Were all the audits conducted fully recognised by the organisation as helpful and relating to key business
risks or opportunities?
18. Were the reports a true reflection of the expertise, knowledge and professionalism that 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?

If you cannot answer ‘Yes’ to more than 15 of the questions it is unlikely that your audit reports will meet the needs of
your organisation. If you scored 10 or less you are probably being more objective than those who scored themselves
15 or more (and you are representative of 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, 1 March 2009 • Self evaluation against the model provided • Benefits and deliverables
(you are asked to bring along two or three • Conclusions
Audit Reporting And Impact recent reports – for your own use) • The power of senior management
• Key challenges and their implications comments
Audit Reports – Your Shop Window • Words and phrases to avoid
• Challenges of audit reporting Best Practice Internal Audit Reports – The • Best practice format
• Who are the reports really for? Way Forward • Reducing the number of words
• How do you know a good report when • Key requirements of the audit report of the • The power of pictures and graphics
you see one? future • The need to relate the issues to objectives
• What management expects – recent survey • How to draft a report with impact and risk
of chief executives • Highlighting the issues that matter • Recommendations and actions
• Professional standards • The psychological problem with reports • Action plans
• The need for reports with impact • Why audit reports are taken as a criticism • Dissemination of a best practice report
of management template
Exercise 1: Characteristics Of A Successful • How to get recipients to react positively
Report • How to write balanced reports Exercise 7: Redrafting The Objectives,
• Format and structure Scope And Audit Opinion
The Problems With Audit Reports • Wording and layout
• The 20 questions – how did you score? • How to get 95% of your recommendations Presenting And Distributing Reports And
• What are the factors impacting actioned Measuring Success
achievement of these best practice • Distribution lists
measures? Exercise 5: Role-Play – Meeting With Senior • Presenting or issuing reports (including use
• Tips, techniques and ideas to help you Management To Discuss The Key Issues of e-mail and the intranet)
score 20 out of 20 • Alternative methods of reporting e.g.
PowerPoint presentations
Exercise 2: 20 More Best Practice Questions Day Two – Monday, 2 March 2009 • 20 steps to success
• Follow up audits – using the action plan
• Discussion of the implications Implementing Best Practice Audit • How to get management to take
• Advice and guidance to help you achieve Reports responsibility for chasing actions
best practice • Determining your reporting Key
• Explanation of a proven method to The Executive Summary Performance Indicators (KPIs)
evaluate your own reports • The messages you want the board to hear
• How to ensure no overreaction Exercise 8: Reporting KPIs
Exercise 3: Analysis Of Two Actual Reports • Including positive comments
• How to keep it short and focused Writing A Report In The Best Practice
• Feedback and discussion Format
Exercise 6: The Executive Summary
Interactive Exercise: Taking a long report of
Exercise 4: Assessment And Evaluation Of The Main Report your own – ideally one with more than 15
Your Own Reports • Audit objectives pages – and turning it into the six page best
• Scope practice format. A report should be brought
• Forming and expressing the audit opinion along for the purpose.

Advanced Audit Skills 3 – 5 March 2009


Course Outline

Day One – Tuesday, 3 March 2009 Exercise 9: Assessing The Reputation Of • Audit programme development
Your Function • Assignment planning and control
Planning And Automation • Fieldwork techniques
Audit Planning
The Internal Audit Role • Determining the level of assurance required Exercise 11: Fieldwork Techniques
• Audit’s primary roles, objectives and • Identifying the audit universe
concerns • Strategic audit planning • How to cover specialist areas
• What is best practice? Sharing results of • Best practice audit risk planning model (an
recent benchmarking surveys electronic version will be provided) Audit Automation
• The role of the function – policeman, risk • Computer assisted audit techniques
assessor or consultant? Exercise 10: Strategic Audit Planning Using • Covering the whole population of data
• The reputation of the function and how to The Model rather than just a sample
assess it • Benfords Law and its importance
• Key performance indicators • Sources of work • Options available
• Managing audit requests

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


Demonstration of ACL – the market leading • Use of data mining - Audit reports
audit software solution • Fraud profiling – how to target the right - Measuring performance
systems - Marketing the function
Marketing Of Internal Audit • How to get the information you need • Explanation of the scoring system – 200
• Success measures areas with a maximum overall score of
• Methods of marketing Exercise 17: Identifying The Fraud Risks 500
• Key Performance Indicators (KPIs)
• Tools and techniques Exercise 20: Completing The Benchmarking
Day Three – Thursday, 5 March 2009 Template
Exercise 12: Marketing The Function
The New Challenges For Internal Course Summary And Close
Audit
Day Two – Wednesday, 4 March 2009 Courses Include Extensive Documentation
Risk Based Assurance And A Copy Of The Following:
Pushing The Barriers Back • Why is corporate governance so • Phil Griffiths’ research report into the
important? expectations of chief executives towards
Skills Required • The enhanced role of stakeholders internal audit and its future
• Results of recent surveys • Risk based audit • Phil’s acclaimed work entitled ‘Optimising
• Outlining the broader range of skills • The need to translate the key risks into the Assurance’
needed basis of the IA programme • The 64 page BRM internal audit manual
• Is internal audit a career or a stepping • The options for internal audit involvement in • An electronic copy of the best practice
stone? risk evaluation audit planning model and report templates
• Controlling risk self assessment
Exercise 13: Audit Skills • The need to coordinate the various
assurance providers
• How to carry out a skills inventory • How to focus your audit attention “The event was just great!”
• Facilitation skills – tips and techniques Faleh Al Anjani, Auditor
• How to recruit personnel with the skills you Exercise 18: Major Risks In Your Sabic, KSA
need Organisation
• Achieving a blend of experience,
competencies and innovation Audit Manual “The Middle East is catching up
• Job descriptions with the skills, theories and concepts
Exercise 14: The Skills Inventory
• Audit methodology discussed.”
Relationships With The Board And Audit • Annual and quarterly audit plan Sohel Merchant, Assistant Manager,
Committees • Time recording
Management Assurance
• Board requirements of internal audit • Interpersonal awareness
• Personnel to interview determination WJ Towell & Co (LLC), Oman
• Developing regular contact with the chief
executive • Pre-audit PowerPoint
• Role of the audit committee • Audit testing “It was a very valuable event, and I
- The audit committee relationship – how • Methods of testing adopted
• Clearance meeting
really learnt a great amount from it.”
to develop this Gamil Zaki, Internal Audit Officer
- Evaluating audit committee requirements • Audit classification
- How to anticipate requests etc. EFG Hemes Holding Co, Egypt
- How to develop effective audit Exercise 19: What Makes A Good Audit
committee reports Manual?
- External audit relationships You will receive an electronic version of a
64-page best practice audit manual
Forthcoming Relevant Events
Exercise 15: The Audit Committee / Board
Report Benchmarking Internal Audit
• The power of benchmarking BC2875 Due Diligence
• Internal quality assurance 11 – 15 January 2009
Fraud And The Internal Audit Role
• Fraud explained: definitions and nuances • The need for external evaluation as per the www.iirme.com/duediligence
• Who commits fraud? IIA standards
• Trends and statistics regarding detected • The need to give comfort to the audit BC2883 Practical Audit Skills
fraud committee regarding best practice 8 – 12 February 2009
• Why fraud is probably being perpetrated • Introduction to a unique benchmarking www.iirme.com/pas
now in your organisation template
• Fraud case histories and the lessons to be • Explanation of the 11 sections
BC2885 Risk Based Auditing Of
learned - Corporate governance and the internal
audit role Projects
- Professional standards 8 – 12 February 2009
Exercise 16: Typical Fraud Scenario
- Audit charter www.iirme.com/rbap
• Fraud indicators - The audit committee relationship
- Skills, training and resources For more information on any of the
• Spotting the danger signs above events please contact us on
• Auditors fraud toolkit - Strategic audit planning
- The audit manual Tel: 971-4-3352483 or
• Proactive fraud detection email: r.devnani@iirme.com
• Anti-fraud policies - Completing the audit

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


Innovative Audit Reporting
IIR Middle East certified by

Advanced Audit Skills


1 – 5 March 2009 • Crowne Plaza Hotel (Sheikh Zayed Road), Dubai, UAE

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

For further information and Group Discounts*


contact 971-4-3352483 or email: r.devnani@iirme.com
*Group discounts are only applicable on the full event price

WEB BC2917
Yes, I want to register for:
Event Date Save Price
Innovative Audit Reporting 1 – 2 March 2009 US$ 2,895
Advanced Audit Skills 3 – 5 March 2009 US$ 3,495
Book entire event 1 – 5 March 2009 US $ 1,640 US$ 4,750
Course fees include documentation, luncheon
Early Bird Discount 2 – Entire event by = 18 January 2009 US$ 1,840 US$ 4,550 and refreshments. Delegates who attend all
Early Bird Discount 1 – Entire event by = 21 December 2008 US$ 2,140 US$ 4,250 sessions will receive a Certificate of Attendance.

If you have eight or more delegates who need this training, contact IIR In-House on 971-4-3352439 or inhouse@iirme.com
Course fees include
Personal documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Attendance.
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A confirmation letter and invoice will be sent upon receipt of your registration. Please If you are unable to attend, a substitute Crowne Plaza Hotel (Sheikh Zayed
note that full payment must be made upon receipt of the invoice and prior to delegate will be welcome in your place. If this Road), Dubai, UAE
the event. Only those delegates whose fees have been paid in full will be admitted to the is not suitable, a US$ 200 service charge will Tel: 971-4-3311111
event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note be payable. Registrations cancelled less than
that all US$ cheques and drafts should be drawn on a New York bank and an extra amount seven days before the event must be paid in Accommodation Details
of US$ 6 per payment should be added to cover bank clearing charges. All payments should full. We highly recommend you secure your room
be made in favour of IIR Holdings Ltd.
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Card Number: ....................................................................... Exp. Date: ............................... Due to unforeseen circumstances, the programme
may change and IIR reserves the right to alter the
venue and/or speakers. CJ PG G201 Audit
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