Critical Thinking in Audit Process

Critical Thinking in Audit Process

5-6 September 2018, Dubai – United Arab Emirates

Critical Thinking in Audit Process

Benefits of Attending:

Undertaking and completing the course will enable you to:

  • understand how critical thinking fits with the internal audit activities you undertake for your organisation and the International Internal Audit Standards for Professional Practice;
  • determine the most appropriate way to apply critical thinking to your internal audit activities audit strategies, methodology, and assignment life-cycle;
  • apply critical thinking to each stage of a review or internal audit assignment in order to ensure quality and professional scepticism have been maintained. In addition learn how to apply appropriate tools and techniques;
  • use critical thinking to construct more insightful assurance statements to your audit and risk committee, senior managers and board; reflect on the key concepts of critical thinking to add real value to your organisation;
  • utilise critical thinking to become forward looking and support management in creating value for your business through your reports;
  • engage with management and the audit and risk committee using critical thinking to attain a positive perception of internal audit and generate respect for the function;
  • apply critical thought to ensure the root cause of issues and risks are adequately and robustly addressed whilst maintaining the competitive advantage of the business;
  • utilise internal audit insights and position within the business to assess emerging trends and suggest appropriate and proportionate responses; and
  • apply critical thinking to develop and deliver informed and evidence based findings and conclusions.

Who Should Attend?

Attendees who would benefit from the course include:

  • Senior Auditors and Auditors – To improve general performance and ability to provide value adding solutions;
  • Directors – To develop new skills and capabilities to think more widely and challenge the consensus;
  • Chief Audit Executives – To develop more insightful strategies, plans and methodologies whilst providing observations which generate business benefit and efficiency

Critical Thinking in Audit Process: Critical thinking is a key instrument in the internal audit tool box. It is a vital capability which should be cultivated in order to enhance business focused recommendations and performance improvements. The ‘Foundation for Critical Thinking’ defines Critical Thinking as ‘the intellectually disciplined process of actively and skilfully conceptualising, applying, analysing, synthesising, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action. Sound critical thinking requires: clarity, accuracy, precision, consistency, relevance, sound evidence, good reasons, depth, breadth, and fairness’. By harnessing the power of critical thinking internal audit processes can be developed to master complex tasks and assignments in order to help management achieve ethical and sustainable outcomes which work best for the business and wider stakeholders.

Positive application of critical thinking in the audit process supports compliance with the international standards for professional practice. It enables auditors to be focused on the essential aspects of each audit assignment whilst maintaining a balanced level of professional scepticism toward business risks and management control. Providing informed, insightful and evidence based assurance is key to quality.

Critical Thinking in Audit Process course will provide comprehensive training targeted at critical thinking techniques and using an immersive and interactive approach. Critical thinking is a core competence for any modern and progressive audit function in order to stay on top of business and board expectations. Critical thinking can help give order to ‘Audit’ tasks.

Critical Thinking in Audit Process course is designed to help you further develop or refresh concepts of critical thinking, professional discretion, business acumen and judiciousness. The ability to enhance audit processes and perceptiveness enables the development and delivery of a better audit service throughout all stages of each assignment. Applying critical thinking from the outset of a review or investigation facilitates a more lean and agile approach to your work and enables the root cause of issues and material risks to be readily identified and addressed. By applying the concepts you will learn from this event you will be able to dramatically improve your audit efficiency, the audit functions effectiveness and the cost effectiveness of business controls.

Course Modules:

The following modules will be covered in detail:

  • Course Background and Introduction Understanding Critical Thinking – What does it really mean and how can it be harnessed for internal audit?
  • Critical Thinking Techniques and Tools
  • Critical Thinking Applied to the Audit Process
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