Course Level
This Institute program is at the overview level and assumes knowledge of auditing skills.
Areas of Instruction — Core Competencies
The Association has identified ten broad areas of core competency for inspectors general investigators. The Institute program’s five-day curriculum covers the following core competency areas:
- The audit process
- Professional standards for conducting audits
- Ethics
- Internal control
- Data Analytics and IT auditing
- Peer review process
- Identifying and Reporting Audit Accomplishments
- Fraud Risk Management
- Statistical Sampling
Course Learning Objectives and Program Content
Audit Process
- Planning the audit
- Performing the audit
- Reporting on the audit
- Follow-Up
Professional Standards for Conducting Audits
- Knowledge and understanding the need for standards
- The importance of standards for auditing
- Knowledge and understanding the specific standards for auditing
Ethics
- Nature and role of ethics laws and standards
- The nexus between IG auditing and ethical issues.
- Ethics as second nature
Internal Control
- Importance
- Assessing
- Documenting
Data Analytics and IT Auditing
- Auditor’s responsibility for assessing IT risks & controls
- Impact of IT controls on the overall control structure & business risks
- Areas to be assessed & risks present
Peer Review Process
- What to expect
- How to prepare
- Reporting results
Identifying and Reporting Audit Accomplishments
- Types of monetary benefits and non-monetary audit accomplishments
- Criteria
- Practical examples
Fraud Risk Management
- GAO’s Fraud Risk Management Framework
- Applying the Framework
- Practical Examples
Statistical Sampling
- When to use statistical vs non-statistical samples
- How to calculate appropriate sample size
- How to extrapolate results to the population