The Management Accounting Techniques for Auditors Course is an extensive professional program that will help narrow the distance between auditor requirements and the practices of Management Accountants. Auditors have an increasing expectation to not only perform compliance testing but also have knowledge of the financial decision-making process of the organisation. This course will allow auditors in practice a way to develop practical experience with a number of techniques used in the area of management accounting that directly support the appraisal, evaluation and reporting of auditing activities. By understanding how management accounting data is being used, it allows the auditor to enhance their judgments related to audits and it assists them in accurately identifying financial risk and reporting enhanced audit insight to stakeholders.
The course will have a focus on how to apply management accounting techniques including budget setting, variance analysis, performance measurement, and cost behaviour analysis in a real-world audit environment. The participant will learn how management accounting can contribute to the areas of cost control, optimal use of resources and long-term strategic decision making and how these three areas affect auditing results. The Imperial Corporate Training Institute delivered the course, and since it provides a large amount of practical experience in applying techniques to the evaluation of financial performance, internal controls and interpreting management reports, auditors will be able to evaluate these areas with a greater level of confidence. The training course will provide auditors an opportunity to enhance their analytical skills as well as to provide enhanced financial advisory services to clients.
Objectives
By completing the Management Accounting Techniques for Auditors Training Course, participants will be able to:
- Gain insight into how to use management accounting in financial management and auditing in your organisation
- Utilise core management accounting methods to develop effective audit plans and execute those plans successfully
- Evaluate the costs associated with audits and the methods used to manage those costs
- Understand how various budget formats, forecast formats and variance report formats can be used to audit effectively
- Determine how performance measurement systems are used to evaluate audit risks
- Utilise management accounting to support audits and help improve quality of reports
- Identify areas where audits could discover inefficiencies, waste and weaknesses in a company through financial analysis
- Develop a professional working relationship between financial audit results with operational goals of a company.
Target Audience
This course is intended for individuals who work in financial audit, accounting, and internal control related positions such as the following:
- Professionals performing external audit work attempting to build better analytical and advisory skills
- Professionals performing internal audit work related to performance and operations
- Professionals working in management accounting who are transitioning into audit-related positions
- Professionals in the finance function of an organisation providing financial analysis to support audit teams
- Professionals in the risk and compliance departments whose responsibility is to monitor financial activities of their organisations
- Managers and supervisors who lead audit teams looking to gain better insight into audit activities
- Professionals who wish to prepare themselves for senior financial audit and assurance positions.