EFFECTIVE OPERATIONAL AUDIT
Enhancing Organizational Performance through Process-Based Internal Auditing
Course Schedule
| Date | Venue | Fees (Face-to-Face) |
|---|---|---|
| 21 – 25 Apr 2025 | London, UK | USD 3495 per delegate |
Course Introduction
Operational audits provide a critical assessment of business processes to ensure efficiency, effectiveness, and compliance with policies and regulations. Unlike financial audits, operational audits focus on improving performance and risk management by identifying inefficiencies, process gaps, and improvement opportunities.
This practical and interactive course equips internal auditors, risk professionals, and process owners with the skills and tools necessary to plan, conduct, and report on operational audits. Using proven frameworks and case-based learning, participants will learn how to evaluate controls, assess performance indicators, and deliver impactful audit recommendations.
Course Objectives
By the end of this course, participants will be able to:
• Plan and execute risk-based operational audits aligned with organizational goals
• Assess processes and internal controls for effectiveness and efficiency
• Use root cause analysis techniques to identify systemic issues
• Develop actionable recommendations to improve operations and mitigate risks
• Communicate audit results clearly to stakeholders and management
Why you Should Attend
• Gain a structured approach to operational auditing across business units
• Strengthen your ability to assess internal control design and effectiveness
• Build confidence in identifying risks, waste, and improvement opportunities
• Learn to write clear, concise, and value-added audit reports
• Support management in achieving performance and compliance objectives
Intended Audience
This program is designed for:
• Internal auditors and audit managers
• Compliance and risk officers
• Finance, operations, and process improvement professionals
• Quality assurance and internal control staff
• Anyone involved in operational reviews or internal assessments
Individual Benefits
Key competencies that will be developed include:
• Operational audit planning and execution
• Process analysis and control evaluation
• Risk assessment and audit scoping
• Root cause analysis and recommendations
• Professional reporting and stakeholder communication
Organization Benefits
Upon completing the training course, participants will demonstrate:
• Enhanced audit quality and consistency across departments
• Improved identification of inefficiencies, risks, and control gaps
• Support for continuous improvement initiatives
• Stronger alignment between audit activity and strategic goals
• Improved transparency and accountability across operations
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
• Strategy Briefings – Operational audit standards, methodologies, and frameworks
• Case Studies – Real-life audit scenarios, findings, and best practices
• Workshops – Risk assessments, audit program creation, and interview simulations
• Peer Exchange – Sharing of audit challenges, industry benchmarks, and tools
• Tools – Audit planning templates, checklists, report formats, and risk matrices
Course Outline
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Principles and Planning of Operational Audit
Module 1: Introduction to Operational Auditing (07:30 – 09:30)
• Differences between operational, financial, and compliance audits
Module 2: Risk-Based Audit Planning (09:45 – 11:15)
• Understanding risk appetite, materiality, and audit universe
Module 3: Defining Audit Objectives and Scope (11:30 – 01:00)
• Setting performance, compliance, and control objectives
Module 4: Workshop – Develop a Risk-Based Audit Plan (02:00 – 03:30)
• Conduct a planning session for a mock business unit
Day 2: Process Review and Control Evaluation
Module 1: Business Process Mapping and Documentation (07:30 – 09:30)
• Process flowcharts, narratives, and internal control points
Module 2: Evaluating Control Effectiveness (09:45 – 11:15)
• Types of controls: preventive, detective, corrective
Module 3: COSO and Internal Control Frameworks (11:30 – 01:00)
• Control environment, risk assessment, control activities
Module 4: Workshop – Analyze a Sample Business Process (02:00 – 03:30)
• Identify weaknesses and improvement areas
Day 3: Fieldwork Execution and Risk Identification
Module 1: Conducting Fieldwork and Interviews (07:30 – 09:30)
• Techniques for gathering and validating audit evidence
Module 2: Identifying and Categorizing Audit Findings (09:45 – 11:15)
• Observation, impact, cause, recommendation
Module 3: Root Cause Analysis Techniques (11:30 – 01:00)
• 5 Whys, fishbone diagrams, process failure analysis
Module 4: Workshop – Audit Interview Simulation (02:00 – 03:30)
• Practice interviewing process owners and documenting findings
Day 4: Reporting and Communicating Audit Results
Module 1: Writing an Effective Audit Report (07:30 – 09:30)
• Structure, tone, and prioritization of audit observations
Module 2: Developing SMART Recommendations (09:45 – 11:15)
• Specific, Measurable, Achievable, Relevant, Time-bound
Module 3: Stakeholder Communication and Follow-Up (11:30 – 01:00)
• Presenting findings to management, action tracking
Module 4: Workshop – Drafting an Audit Report (02:00 – 03:30)
• Write and review a short audit report with peer feedback
Day 5: Assurance, Improvement, and Final Review
Module 1: Measuring Audit Effectiveness (07:30 – 09:30)
• KPIs for audit function, quality assurance reviews
Module 2: Aligning Audit with Strategy and Operations (09:45 – 11:15)
• Using audit to support continuous improvement
Module 3: Final Case Study – End-to-End Audit Simulation (11:30 – 01:00)
• Plan, execute, and report on a complete mini audit
Module 4: Wrap-Up and Certification (02:00 – 03:30)
• Course summary, key takeaways, and certificate distribution
Certification
Participants will receive a Certificate of Completion in Effective Operational Audit, confirming their ability to plan, conduct, and report on operational audits that support performance improvement and internal control assurance.