An Audit Management Accounting Comprehensive Course is a specific type of financial auditing program to train and provide knowledge and skills to conduct a financial audit in depth of an organisation’s management accounting systems, processes, and reports. Auditing Management Accounting examines how Management Accounting integrates into an organisation’s Internal Control system, how Management Accounting supports performance measurement, budgeting, forecasting, and strategic decision-making. Through this course, individuals will also learn how auditors can assess the appropriateness, dependability, and relevance of Management Accounting information used by senior management for planning purposes and for control purposes.
Delivered by Imperial Corporate Training Institute. The course also focuses on advanced auditing management accounting concepts (in addition to traditional financial auditing), including cost behaviour analysis, variance analysis, Responsibility Accounting, and Performance Management Frameworks, so participants learn to connect and combine these operational support resources to create financially sound organisations that will meet their organisational objectives.
Upon successful completion of this course, participants will have developed a thorough understanding of how to utilise Management Accounting data for supporting strategic objectives and as such, will know how to critically analyse risk, find opportunities for improvement for compliance and to recommend improvements to create value through the auditing processes of organisations. The combination of theory and practice in this course will prepare participants to conduct a Comprehensive Management Accounting Audit confidently and accurately.
Objectives
By the end of the Comprehensive Management Accounting Audit Training Course, participants will be able to:
- Determine how the management accounting is aligned with the overall governance and control systems of an organisation.
- Apply auditing techniques to assess the effectiveness of management accounting systems and processes.
- Analyze the effectiveness of budgeting, forecasting, and controlling costs.
- Examine the cost structures, drivers and behaviour for the purpose of conducting audits.
- Evaluate the effectiveness of performance measurement systems, KPIs, and management reports.
- Identify potential risks, weaknesses and inefficiencies in an organisation’s management accounting processes.
- Conduct audits of variance analysis and interpret audit results for decision-making purposes.
- Evaluate the effectiveness of responsibility accounting and decentralised control systems.
- Test the reliability and completeness of management accounting information.
- Align management accounting audit results with the overall organisational strategy.
- Develop audit recommendations which improve value creation and operational efficiencies.
- Enhance the professional judgement of the audit staff performing management accounting audits.
Target Audience
This financial audit training course is suitable for professionals involved in auditing, finance, and performance management, including:
- Internal auditors and senior internal audit professionals
- Management accountants and cost accountants
- External auditors seeking to expand into management accounting audits
- Finance managers and financial controllers
- Risk management and compliance professionals
- Performance and business analysts
- Corporate governance and assurance professionals
- Public sector auditors and inspectors
- Professionals responsible for budgeting, forecasting, and performance reporting
- Individuals preparing for advanced roles in audit and finance functions