Mastering the Five Tiers of Audit Competency: The Essence of Effective Auditing, 1st Edition (Paperback) book cover

Mastering the Five Tiers of Audit Competency

The Essence of Effective Auditing, 1st Edition

By Ann Butera

Auerbach Publications

183 pages | 27 B/W Illus.

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pub: 2016-05-02
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Description

Risk-based operational audits and performance audits require a broad array of competencies. This book provides auditors and risk professionals with the understanding required to improve results during risk-based audits.

Mastering the Five Tiers of Audit Competency: The Essence of Effective Auditing is an anthology of powerful risk-based auditing practices. Filled with practical do and don’t techniques, it encompasses the interpersonal aspects of risk-based auditing, not just the technical content.

This book details the behaviors you need to demonstrate and the habitual actions you need to take at each phase in an audit to manage the people relationships as well as the work itself. Each section of this book is devoted to a component of the audit: planning, detailed risk and control assessment, testing, audit report writing, project management, audit team management, and client relationship management.

The book leverages The Whole Person Project, Inc.’s 30 years of hands-on organizational development experience and custom-designed internal audit training programs to aid those just starting out in audit as well as more experienced auditors. It also contains templates you can use to set performance goals and assess your progress towards achieving those goals.

This book will spark ideas that can enhance performance, improve working relationships, and make it easier to complete audits that improve your organization’s risk management culture and practices. Explaining how to make positive and sustained changes to the way you approach your work, the book includes a summary of the key points and a brief quiz to help you remember salient ideas in each chapter.

Presenting proven methods and advice that can help you immediately save time, reduce stress, and produce reliable, quality results, this book is an ideal resource for anyone looking to make positive changes and adopt more productive work habits

Table of Contents

How to Get the Most from This Book

Chapter Contents at a Glance

The Book at a Glance

Overview of the Five Tier Audit Competency Model

Some Definitions before We Start

Change Management

Chapter Summary

Quiz

Techniques for Planning Useful Audits

Chapter Contents at a Glance

Definition and Benefits of the Critical Linkage

Audit Planning Techniques

Data Collection Interviewing: The Funnel Approach

Putting It All Together to Set the Scope and Objectives

Managing Your Time Effectively while Planning

Chapter Wrap-Up

Chapter Summary

Quiz

Techniques for Detailed Risk and Control Assessment

Chapter Contents at a Glance

Just What Is Inherent Risk?

Two Categories to Exclude When Identifying Inherent Risk

Risk’s Effect: Assessing a Risk’s Consequences

Control Assessment

Types of Controls

Tips for Writing about Controls in Narratives

Chapter Wrap-Up

Chapter Summary

Quiz

Testing and Sampling Techniques

Chapter Contents at a Glance

Testing Techniques

A Step-by-Step Approach to Developing Control Tests for Operating Effectiveness

Audit Sampling Techniques

Chapter Wrap-Up

Chapter Summary

Quiz

Documentation and Issue Development: The Building Blocks for Effective Audit Reports

Chapter Contents at a Glance

General, Four-Step Writing Process

Documenting the Audit: Getting Started

Tips for Effective Summary Writing

Issue Development

Effective Audit Documentation Techniques

Chapter Wrap-Up

Chapter Summary

Quiz

Core Competencies You Need as an Auditor

Chapter Contents at a Glance

Executive Presence in Audit

Critical Thinking: What Is It?

General Guidelines for Managing Your Time

Tips for Managing up the Ladder

General Ways to Organize the Message You Want to Communicate

Planning Effective Meetings

Reporting on an Audit’s Status

Chapter Wrap-Up

Chapter Summary

Quiz

Techniques for Managing the Audit Team

Chapter Contents at a Glance

Delivering Feedback

Tips for Managing a Multigenerational Workforce

Leaders and Managers

Building and Motivating Teams

Chapter Summary

Quiz

Techniques for Managing Constituent Relationship

Techniques for Achieving a Positive First Impression

Influencing Techniques

Delivering Technical Information to Nontechnical People

Fundamental Rules for Handling Objections

Exercise 8.1: Overcoming Auditee Objections to Issues

Chapter Wrap-Up

Chapter Summary

Quiz

Chapter Quiz Answers

Chapter 1: How to Get the Most from This Book

Chapter 2: Techniques for Planning Useful Audits

Chapter 3: Techniques for Detailed Risk and Control

Chapter 4: Testing and Sampling Techniques

Chapter 5: Documentation and Issue Development

Chapter 6: Core Competencies You Need as an Auditor

Chapter 7: Techniques for Managing the Audit Team

Chapter 8: Techniques for Managing the Constituent

Relationship

Bibliography

About the Author

Ann M. Butera is the founder and president of The Whole Person Project, Inc., an organizational development consulting firm that specializes in assisting companies to introduce, handle, and manage change. Her prior work experience as a department manager for a large retailer, a system liaison officer at a major money center bank, and an internal consultant at a bankcard processor, in conjunction with her experience as a business owner and consultant, enables her to develop customized approaches for continuous improvement and increased profitability in organizations of all sizes. She served as an audit committee chair for a financial services firm.

For over 25 years, Ann Butera has consulted with organizations of all sizes to provide managers, auditors, and compliance and risk professionals with the techniques needed to improve their risk management practices. She has worked specifically with audit, compliance, and risk management department managers to develop methodologies that enhance the consistency and quality of audit and review execution.

Ann Butera received her Masters of Business Administration in Organizational Development from Adelphi University and is a Summa Cum Laude graduate of Long Island University (C.W. Post Campus).

About the Series

Internal Audit and IT Audit

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Subject Categories

BISAC Subject Codes/Headings:
BUS000000
BUSINESS & ECONOMICS / General
COM053000
COMPUTERS / Security / General
TEC032000
TECHNOLOGY & ENGINEERING / Quality Control