At the end of this Seminar, the Participants are expected to
1. Articulate the Risk-Based Audit Strategy for Branch Banking (BB) Sales, as well as for BB Service Operations and the detailed Audit Procedures (APGs) that will effectively carry out the risk-based Audit Strategy Statements.
2. Devise a Framework for the Auditor’s Evaluation of the (a) Adequacy of Internal Control Design and the (b) Effectiveness of Internal Control Implementation in the Branch Banking Sales and Service Operations.
3. Discuss the integration of the various elements and results into a Pro-Forma Audit Report for the Branch Banking Audit Engagement.
4. Participate and contribute ideas during the discussions, workshop, and complete the learning assessment activity for this BBA Part 2 Seminar.
Learning Level: IAFB – Advanced / Technical
• Internal Audit Management, who would direct the branch audit project; who would ensure the propriety of the Audit Strategy and APGs; who would review & approve the working papers, the audit issues raised & recommendations, and the adequacy/ relevance of management responses; who would sign-off on the quality/propriety of the matters presented in the Audit Report to be issued for branch audit engagements; and who would present to the Audit Committee the results of the branch banking audit examination.
• EQAR Practitioners who independently assess the internal audit function of banks.
• Branch Banking Sales and Service Operations Personnel, who would be responsible for the implementation of an adequate and effective internal control system for Branches.
• Risk and Compliance professionals, as deemed necessary.
• External Auditors who would decide to rely on the work of Internal Audit.
TOPICS AND DISCUSSION OUTLINE FOR THIS SEMINAR/WORKSHOP:
I. Preliminary Understanding and Risk Assessment for the Branch Banking Audit Examination:
a. Identifying the Significant Laws, the BSP Rules, and the Bank’s Key Policies relative to Branch Banking (BB) Sales and Service Operations;
b. Revisiting the Core Processes/Products/Service for Branch Banking Sales and Service Operations, as well as their Inherent Risks.
c. Identifying the BB Management’s Key Mitigants for BB Risk, Key Controls put in place, and any Exception Escalation & Monitoring Process, for BB Sales and Service Operations.
d. Arriving at the Auditor’s Preliminary Assessment of Risks in the particular Branch (H, M, L) and the corresponding planned key audit approach/procedure, the specifications or parameters for Pre-audit analytics and computerized audit tests, that are part of the overall audit approach.
II. Articulating the Risk-Based Audit Strategy on Focus Areas for the examination of BB Sales, and for BB Service Operations.
III. Documenting the Detailed Audit Procedures (through APGs) that will effectively carry out the risk-based Audit Strategy Statements.
IV. Common Audit Observations, Audit Exceptions, Risk & Control Issues as a results of audit examination of the Branch Banking Sales, and the Branch Banking Service Operations.
V. Determining the Framework for the Auditor’s Evaluation of the (a) Adequacy of Internal Control Design and the (b) Effectiveness of Internal Control Implementation in the Branch Banking Sales and Service Operations.
VI. Integrating the Results of the Audit in the Pro-Forma Audit Report Executive Summary and in the Details of the Audit Issues, Recommendations, and Management Responses / Action Plans.
VII. Group Work, Case Studies, and Presentations. Possible Written Exam during this Seminar.
February 22, 2020, 9:00 A.M. to 5:30 P.M.
Dusit Thani Manila, Ayala Center, Makati City