Chartered Institute of Public Finance and Accountancy

LASAAC CIPFA Scottish Branch


Effective Audit Committee

Training for the elected members of the board

 

The Effective Audit Committee

The training helps participants consider how the audit committee can gain an overview of the overall control environment, review the effectiveness of risk management and monitor the performance of audit. The course will also provide committee members with an Increased knowledge of Audit Committees, Roles and Responsibilities and will give them the effective ability of to question and scrutinise

What will I gain from this course?

An improved understanding of the way that audit committees work to help deliver the objectives of the organisation through effective internal audit and risk management. You will develop the way in which your audit committee works with internal and external audit, learn how to decode audit reports, consider different ways in which to manage the audit committee to make the best use of it and everyone?s roles and responsibilities. You will also gain valuable insights to the way in which other organisations manage their audit committees and managing officer/member relationships through discussions and workshop sessions.

Course Programme:
 

Registration 09.30 - 10:00
Session One Introductions and overview of the course
  • Who we are
  • Outline of the course
  • Course objectives
  • Audit committee terminology
Session Two Self Directed Support
  • In groups, examining an audit report to identify questions
  • Feedback and discussion about questions to ask, concerns being raised and the fundamentals of reviewing an audit report
Session Three Corporate Governance
  • The Good Governance Framework
  • What makes a good governance statement
  • What makes a good governance framework
  • Reviewing the Annual Governance Statement
  • The audit committee?s role in delivering good governance
Session Four Roles and Responsibilities
  • An exercise around selecting an audit committee chair
  • Working with officers
  • Working with other committees
Session Five Committee Operation
  • Composition
  • Working protocols
  • Meeting cycle
  • Member skills and experiences
  • Working with internal and external audit
Session Six Questioning style
  • Asking constructive questions
  • Decoding audit reports
Session Seven

Risk Management

  • The basics of risk management
  • An exercise on examining a risk register
  • The audit committee?s role in risk management
Session Eight

Reviewing annual accounts

  • The purpose of accounts
  • What?s included
  • The Audit Committee?s role in examining accounts
  • An exercise on examining accounts in 30 minutes
Session Nine Self assessment, key questions and wrapping up
  • Some ideas for appraising your own audit committee
  • Any questions and discussion to wrap up the day
Close 16.00
In-house delivery

CIPFA Scotland delivers Strategic In-House Training Courses to meet the cumulating challenges of the elected members.

For details of In-house or tailored and customised training courses for elected members please contact: james.duncan@cipfa.org.uk
or call on 0131 550 7530