Internal Audit Services Portfolio
– strategic alignment in accordance with executive-management demands –
Not only is it important to establish the proper groundwork for an audit services portfolio. This applies particularly during the “initial audit services phase.” This should correspond with the pattern of demands made by executive management as well as with the organization’s respective business model.
There are certain intermittent changes regarding contents to a slight degree or in the rhetoric employed by individual internal-audit services. These occur parallel to those dynamic environmental parameters that impact the organization’s surroundings as a whole. At the same time, offshoots of the seven original audit services that are globally recognized in investigative reports and empirical studies develop within the audit product portfolio over the course of specific intervals. These often are driven by innovations within the organization’s field of activity or by regulatory determinants.
The curriculum is targeted to teach participants to orient audit product portfolios to their clients in accordance with the respective corporate business model. ARC’s course of instruction employs strategic “audit-resource-based approaches.” We apply these to the individual circumstances of participants during the course of instruction, examining with them how well they are equipped to deliver requested audit services in the future. Together with participants, we draw up roadmaps for their development.
At the same time, it is important to understand that no precise differentiation can be made between assurance and consulting services within the audit products themselves. Current audit practice within the framework of an audit endorsement’s reporting concept shows that clients always are provided an applicable best-practice recommendation in addition to assurance services. This stands in contrast with the past, in which it often was common to refer only to deviations from a target status or to a point of weakness.
In addition, no doubt, there are specifically requested audit consulting mandates which are to be conducted in accordance with standards and best practices established by the Institute for Internal Auditors (IIA). This applies to sections 1000.C, 2010.C, 2120.C and especially to the requirements stipulated in sections 2201.C and 2210.C.
- IA specifications and development studies
- The seven classic audit services
- Formative options for the establishment of a demand-oriented audit-services portfolio
- Focus of emphasis in accordance with the organizational corporate business model
- Empiric sample arrangements from various business sectors
- Detailed solution approaches for participants´ internal audit operations
- Team-setting formulation of development roadmaps along a timeline
- Support for integration and implementation
About the ARC Institute
With the Audit Research Center, the ARC Institute provides important impulses for the further development of the audit industry. The focus is on networking science and practice. The focus is on further and new development in cooperation with auditors, companies and associations in order to maintain practical relevance and to develop methods, tools and concepts that can be implemented. The results developed in dialogue with industry experts serve as a guideline and adaptation options in practice today, in order to increase the overall benefit of the company in the long term and sustainably with innovative auditing work.
In the spirit of thought leadership, the ARC Institute and the Audit Research Center stand for topic leadership and forward thinking in the area of internal auditing.
Currently, the ARC Institute supports not only leading supranational institutions in the context of research, consulting and personnel development projects, but also numerous listed companies in the three German-speaking countries of Germany, Austria and Switzerland.
Terms of participation and price
Each open training day is 890,- Euro plus VAT when booking the modules individually. Inhouse training conditions are based on individual pricing and travel expenses. After receipt of your registration you will receive a confirmation of registration with invoice. Please pay the registration fee directly after receiving the invoice. The registration fee does not include 19 % VAT. The price includes participation in the lectures of the booked event, lunch, coffee breaks and seminar documents.
At a glance
Employees and managerial staff from the internal audit function
Interactive workshop, discussion, game-theory strategy analyses according to US-American mathematician John Forbes Nash, Jr. and others, practical exercises, case studies, retrospective summary
Training / Training / Consulting period:
Bookings are based on an audit-situation analysis as well as a personal preliminary meeting (workshops generally cover 2-4 days of instruction).
Would you like more details about ARC’s Audit Training & Consulting Services, or do you wish to book an appointment with its team? Please address your e-mail inquiry to Info@ARC-Institute.com or phone us at +49-2159-6945-904