This course is available in both Live Webinar (virtual) and Classroom (physical).

For this session, it will be delivered as CLASSROOM. If you prefer to join the Live Webinar session, please register here.

Programme Objective

This workshop will help participants understand internal auditing within the context of a public sector setting. Participants will undergo a deeper dive into the public sector regulatory frameworks that govern the nature and extent of internal audit activities within the public agency.

It will provide those just starting on their public sector internal audit roles with a clear picture of the landscape in which internal audit functions and equips participants with broader perspectives in terms of audit planning, implementation and reporting as well as to update participants on the current trends in public sector internal audits. The workshop will also allow finance and accounting personnel to understand the role internal audit plays in strengthening the organisation’s internal controls and compliance and to enhance internal financial processes to mitigate the risk of lapses in financial and related controls.

Programme Outline

 

• Public Sector vs Private Sector for Internal Auditors
  • Difference between Ministries, Statutory Boards and Organs of State
  • Similarities and differences in IA between public and private sector
  • Role of Auditor-General’s Office for public sector entities
  • IA Professional Responsibilities

 

• Regulatory Framework for Public Sector Agencies
  • The Constitution, Financial Procedure Act, Audit Act, Respective Statutory Boards’ / Funds’ Acts
  • The Government Instruction Manual (“IM”) & Circulars
    • Instruction Manual on Procurement
    • Instruction Manual on IT Management
    • Circulars

 

• Audit Planning
  • Determining audit universe in context of regulatory, governance and operating environments
  • Framework for audit planning (assets, liabilities, revenue and expenses)
  • Considering enterprise and audit risk
  • IA resources: people, processes and technology

 

• Auditing in a COVID-19 Environment (NEW)
  • Impact on Internal Audit
    • IA Workplan
    • Audit Approach
    • Tools and Techniques

 

• Types of Public Sector Audits
  • Procurement Audits
  • Revenue Audits
  • Expenses and Claims
  • Development Expenditure
  • Fixed Assets
  • Surprise Checks
  • IT Audits

 

• Use of Data Analytics

 

• Audit Reporting and Documentation
  • Singapore Standards on Auditing
  • IIA Standards

The workshop would include interactive elements such as group discussions and online quizzes and polls (using online tools e.g. Slido or equivalent) to facilitate reflection and encourage participants to learn from one another’s experiences in their respective areas of work.

Learning Outcome

After attending the workshop, participants will be able to:

• Obtain an understanding of the regulatory context in which internal audit operates within the public sector
• Develop audit plans covering the audit universe in context of regulatory, governance and operating environment of the agency
• Adapt the internal audit function to the challenges posed by the COVID-19 pandemic
• Be better positioned to deliver internal audit services to meet stakeholder expectations

Training Methodology

Lecture style with exercises /case studies.

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

Internal Auditors, Internal Audit Managers, External Auditors, Compliance and Risk Management Professionals, Accountants, Controllers, Finance Managers and All Accounting Professionals.

Programme Facilitator(s)