Internal Auditing and Control Mechanisms

Catalog description

It is important that leadership teams have a practical understanding of internal and external auditing process, so that they may render necessary support before, during, and following the audit, and more effectively leverage the findings to improve the firm’s operational and financial performance. To this end, this course will approach audits from the perspective of an executive team member. Students will focus on high level oversight of the auditing practices performed by public accountants, internal auditors, or internal investigators. Topics that will be covered include management’s role in the public accounting audits, preparing for audits, ensuring the timely and accurate resolution of findings, communicating with audit committees and client organizations. In addition, students will focus on the role of internal auditing and computer-assisted audit techniques in organizations; concepts such as governance, risk assessment, and the internal control framework developed by the Committee of Sponsoring Organizations (COSO). Students will experience practical team approaches to internal audits in organizations seeing positive benefits of audits and evaluative techniques to bring about more effective operations.