INTRODUCTION
This training course is designed to assist the auditor
in assessing whether an organization operates in a cost conscious, efficient
and effective manner, and it will improve the organization’s internal audit
function. The role of internal audit is to assess
the management in achieving the strategic objectives. Though generally
Value for Money (VFM) audits are performed more frequently in the public
sector, there are an increasing number of private companies carrying out VFM
audits. However, few auditors have in-depth experience of Value for Money
Auditing. This unique practice-based training course brings together the common
elements of VFM Audit based reviewing into a single source for a
reviewer.
COURSE OBJECTIVES
This Value for Money
training course provides a basic overview and in-depth look auditing Joint
Interest, Accounting procedures and processes. This training course will
provide accountants and other players with an understanding of the necessary
functions and operations for Joint Interest Auditing.
At the end of this
training course the participant will be able to:
· Conduct a Value for Money (VFM) audit
· Identify key elements of a joint interest audit
· Develop a risk-based approach to audit
· Produce compelling Value for Money (VFM) audit reports
TRAINING METHODOLOGY
Participants to this Value
for Money (VFM) Audit training course will receive thorough training on the subjects
a variety of proven adult learning teaching and facilitation techniques. The
Training methodology includes:
·
Case studies from
the different industry sector
·
Group discussion,
group work and interactive exercises and videos
· Pre & Post course assessments to enhance learning
outcomes for participants and to measure the effectiveness of this training
ORGANIZATIONAL IMPACT
The organization will gain:
·
More effective Audit
support for all the staff
·
Greater relevance
and reliability of Audit information
·
More strategic
thinking and focus on performance
·
More effective use
of Value for Money (VFM) Auditing of the company
·
Preparation of staff
for increased responsibility
PERSONAL IMPACT
This training course will
be of personal benefit to the participant by providing:
·
A better
understanding of the context and importance of the work you do
·
Improved knowledge
and skills to improve your effectiveness
·
Greater awareness of
industry practices, problems and solutions
·
Increased
understanding and assurance to complete tasks successfully
·
Increased
self-confidence and motivation at work
·
Greater job
satisfaction in providing quality support to management
·
Greater ability to
supervise, develop and motivate colleagues
DURATION
5 days
WHO
SHOULD ATTEND?
This
training course is open to all and will be useful to all accounting
professionals and auditors working within or with joint ventures particularly
internal auditors that need to execute Value for Money (VFM) or Performance
reviews.
·
Auditors / Auditing
Managers
·
Accounting Executive
/ Managers
·
Financial Reporting
Managers
·
Financial Executives
/ Managers / Controllers /Directors
·
Budgeting Officers /
Executives / Managers
·
Cost Controllers,
Executive & Managers
·
Treasurers /
Managers
·
Taxation &
Reporting Executives / Managers
·
JV Executives /
Managers / Advisors
·
Production Sharing
Executives / Managers / Advisors
·
Business /
Investment Analysts & Managers
·
Regulatory
Compliance Officers
· Commercial Analysts, Executives & Manager
COURSE
OUTLINE
Module
1
What
is Value for Money (VFM) Audit?
· Organizational Drivers and Objectives
· Concept of Value for Money (VFM) Audit and its Roles in
Achieving the Organizational Goals and Objectives
· Pillars of Value for Money (VFM) Audit
· The Challenges of Value for Money (VFM) Audit
·
The Value for Money
(VFM) Auditor
Module
2
The
Audit Function
· Purpose & Types of Audit
· The Roles & Procedures within the Internal Audit
Department
· Audit Preparation and Planning to Ensure an Effective
Audit
· Audit Testing / Sampling to Verify Accounts and Controls
· Communicating Audit Findings & Audit Reviews
Module
3
Initiating
and Planning the VFM Audit
· The Procedures of Value for Money Audit
· A Risk-based Approach to Value for Money (VFM) Audit: A
Model Framework
· The Key Steps in the Value for Money (VFM) Auditing Cycle
· Special Planning Considerations for Value for Money (VFM)
Audit
· Value for Money (VFM) Audit and KPIs
· Obstacles to the Conduct of Value for Money Audit
Module
4
Executing
the Value for Money (VFM) Audit
· Conducting the Value for Money (VFM) Audit
· Working with others during the Value for Money (VFM)
Audit
· Setting and Assigning Value for Money (VFM) Audit Metrics
· Process of the Data Collection Process
· Analyzing Data and Extracting Conclusions
·
Management Controls
and Value for Money Audit
Module
5
Reporting
the Value for Money (VFM) Audit
· Documenting the Value for Money (VFM) Audit
· Quality Assurance of the Results
· Producing Value for Money (VFM) Audit Reports
· Distributing a Value for Money (VFM) Audit Report and the
Impact
· Case Study & Discussion
GENERAL
NOTES
·
This course is delivered by our seasoned trainers who have
vast experience as expert professionals in the respective fields of practice.
The course is taught through a mix of practical activities, theory, group works
and case studies.
·
Training manuals and additional reference materials are
provided to the participants.
·
Upon successful completion of this course, participants will
be issued with a certificate.
·
We can also do this as tailor-made course to meet
organization-wide needs. Contact us to find out more: training@skillsforafrica.org
· The training will be conducted at SKILLS FOR AFRICA TRAINING
INSTITUTE IN NAIROBI KENYA.
· The training fee covers
tuition fees, training materials, lunch and training venue. Accommodation and
airport transfer are arranged for our participants upon request.
·
Payment should be sent to our bank account before start of
training and proof of payment sent to: training@skillsforafrica.org
Dates | Fees | Location | Apply |
---|---|---|---|
05/06/2023 - 09/06/2023 | $1500 | Mombasa | Physical Class Online Class |
03/07/2023 - 07/07/2023 | $2950 | Kigali | Physical Class Online Class |
07/08/2023 - 11/08/2023 | $1350 | Nairobi | Physical Class Online Class |
04/09/2023 - 08/09/2023 | $1500 | Mombasa | Physical Class Online Class |
02/10/2023 - 06/10/2023 | $2950 | Kigali | Physical Class Online Class |
06/11/2023 - 10/11/2023 | $1500 | Mombasa | Physical Class Online Class |
04/12/2023 - 08/12/2023 | $1350 | Nairobi | Physical Class Online Class |