Boston Professional Events List


Writing Effective Audit Observations Live Webinar


Date
Mar 30, 2021 - 01:00 PM - Mar 31, 01:00 PM
Organizer
WCS
Venue
online
Location
WCS Consulting Inc.3190 Stirling Rd, Unit K4 ,Hollywood, FL 33021,

Hollywood,
Florida,
US,
ZIP: 33021
Phone: 844-267-7299 | 954-947-5671  

Overview
The key to writing an effective audit observation is having a comprehensive structured process. The Institute of Internal Auditors recommends a process known as the 5Cs:
  • Criteria
  • Condition
  • Cause
  • Consequences (Effect)
  • Corrective Action (Recommendation)
As you develop conclusions, findings, and recommendations, you must present them to your client in a logical, complete, and objective way. This process provides an easy way to consistently develop and present your observations. The components in this process include all the information you will need to inform and persuade.
Developing this process can be an important tool for completing and reporting observations in a timely and comprehensive way. It allows you to present those findings to your reader in a logical, complete, and objective manner and, thus, enhances the chances of the client’s buy-in and their agreement to your recommendations.
This process can also serve as a basis for review by supervisors and managers. It is supported by your workpapers and gives complete and clear details of your analysis and the basis for your findings.




Session Highlights
Review of the following recommended observation standards in detail:
  • Criteria (Standard used for comparison of area under review)
  • Condition (Current status used in the comparison)
  • Cause (Reason that the Condition does not meet the Criteria)
  • Consequence (Risk if not corrected)
  • Corrective Actions (Action needed to manage the risk)
  • Exercises for each component

     
Learning Objectives
This webinar will provide the basic principles for writing effective audit observations. The audit observations represent the result of weeks of reviews, analyses, interviews and discussions. It is used to provide important information to management on the area you reviewed. And, more importantly, it provides details to management on significant issues that needs to be addressed. How well you communicate that information is critical to getting management’s acceptance of your findings and their agreement with your recommendations. And ultimately, this demonstrates the value you add to the company and enhances your chances for promotions and greater salary increases.
After completing this program, participants will be able to understand the five components of an effective audit observation:
  • Criteria (Standard used for comparison of area under review)
  • Condition (Current status used in the comparison)
  • Cause (Reason that the Condition does not meet the Criteria)
  • Consequence (Risk if not corrected)
  • Corrective Actions (Action needed to manage the risk)

     
Why Should You Attend
The audit observation is the most important part of an audit report. It represents the end result of weeks of reviews, analyses, interviews and discussions. It is used to bring significant issues to their attention that needs to be addressed. How well you communicate that information is critical to influencing the readers and getting the results you are seeking. A well written audit observation will capture the readers’ attention and focus them on the important issues in the report that needs to be addressed.
A well written audit observation adds value to your clients by providing:
  • Concise, understandable, and persuasive observations
  • Actionable recommendations

     
Who Will Benefit
  • Chief Audit Executives
  • Audit Directors
  • Audit Supervisors
  • Audit Managers
  • Staff Auditors
  • Government Auditors
  • Compliance Auditors
  • Internal Control Specialists
  • Public Accountants
  • Accounting Analysts
  • Business Analysts
  • Quality Control Specialists


Speaker Details


Faculty

Jonnie Keith has been in auditing for over 40 years. 

Wcs Seminars
Registration Details
(Contact us : 844-267-7299 | 954-947-5671  
Don't wait. Register TODAY or  Email  US [email protected]
 

Event Categories
Keywords: pharmaceutical




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