Imperial Corporate Training Institute designed the Integrated Financial and Management Audit Training Course (IFMATO) as a professional development course that would integrate elements of the classical financial audit process with the more recent management audit processes. The course will help participants understand how to use financial information, internal controls, performance metrics, and decision-making processes within an entity. Following the methodology of the management audit will allow for professionals to perform a combined audit and provide for both compliance assurance and the ability to make informed strategic decisions.
The course emphasises the use of financial and managerial accounting concepts in an audit environment, as well as the importance of conducting an audit of the overall effectiveness of management’s use of resources and processes. The course has been developed to assist participants with learning the skills necessary for evaluating financial statements and assessing management’s effectiveness, as well as analysing how well a company operates. The course is delivered by the Imperial Corporate Training Institute and provides learners with the analytical skills, audit-related frameworks, and reporting skills needed to enable the individuals in their organisation to undertake governance, risk management, and improvement of organisational performance.
Objectives
By the end of the Integrated Financial and Management Audit Training Course, participants will be able to:
- Describe how organisations are using a modern integrated approach to financial and management auditing.
- Use the combined techniques of financial and management auditing to examine both the accuracy of financial statements and the effectiveness of management.
- Use advanced financial and management accounting tools to interpret an organisation’s financial statements.
- Understand company internal control systems and the effects those systems have on the company’s operational success.
- Interpret management policies, routines, and processes for making strategic decisions at the organisational level.
- Identify financial, operational, and strategic risks in the audit work performed.
- Align your audit purposes and objectives with your company’s corporate governance and the company’s performance management framework.
- Prepare your auditing plans that will encompass both financial and management audit scopes.
- Persuasively present the audit evidence in support of your management recommendations.
- Develop and write professional audit reports that clearly communicate financial and management audit information.
Target Audience
This financial audit training course is suitable for professionals who are involved in auditing, finance, management, and organisational oversight roles, including:
- Internal and external auditors seeking integrated audit expertise
- Finance managers and financial controllers
- Management accountants and cost accountants
- Risk management and compliance professionals
- Corporate governance officers
- Business analysts and performance management specialists
- Senior managers involved in strategic planning and control
- Professionals transitioning from financial auditing into management auditing roles
- Consultants providing audit, assurance, and advisory services