Raven Global Training LLC
Programme Syllabus
Internal Audit for Banks & Financial Institutions
Two Day Outline
Internal Auditing is a “HOT” profession. The profession is getting long-deserved
recognition from all levels of business professionals, regulators, and other oversight
bodies. Internal Auditors are skilled professionals who strive to help an organization
achieve its objectives. Internal Auditors help an organization by evaluating the
efficiency and effectiveness of processes; compliance with laws, regulations, policies,
and standards; reliability of information; and controls over operations.
If utilized effectively, company executives and governance bodies can leverage Internal
Auditors to stay informed of the status of business operations. To forge the necessary
relationships and trust with company executives and other business process owners,
Internal Auditors must demonstrate proficiency in audit skills and business operations.
This 2-day course is designed to equip you with the skills necessary to be an effective
internal auditor in audits of banking and financial institutions. Through lively, facilitated
discussions of internal audit practices and hands-on classroom exercises, you will learn
to conduct audits that meet management’s needs and the standards of internal auditing.
WHY YOU CANNOT MISS THIS COURSE
Reason #1: All auditors must be a SWAN, if you don’t attend, you will not learn how to
become a SWAN.
Reason #2: You will miss out on tools and techniques that you can take with you to
perform effective, value-added audits.
Reason #3: You will miss valuable networking opportunities with other banking and
financial institution professionals.
Reason #4: Good auditors have more opportunities for challenging assignments and
have greater earning potential. Great auditors have more than just
opportunities…become a great auditor!
WHO SHOULD ATTEND
This course is designed for anyone involved in audits of banking and financial
institutions, including auditors performing the audits, auditors who plan and supervise
audits, and process owners interested in learning the where the auditors are going to
look next.
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Internal audit staff
Internal audit seniors
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Raven Global Training LLC
Programme Syllabus
Internal Audit for Banks & Financial Institutions
Two Day Outline
Audit management
Business process owners
External auditors
COURSE OUTLINE (16 CPE)
Day 1: Critical Skills for Auditors
IIA Standards (1.5 hours)
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Definition of internal auditing
Mandatory guidance
Non-mandatory guidance
Certifications
The current internal audit model
Interviewing (2 hours)
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Functions of interviews
Best practices for interviews
Building rapport
Questioning techniques
Active listening skills
Information Technology and Fraud considerations (2 hours)
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Auditor responsibility for IT knowledge
General Controls and Application Controls
Auditor responsibility for Fraud knowledge
Red flags of fraud, including SAS 99
Fraud concerns for banking and financial institutions
Risk assessments (2 hours)
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Risk concepts and terminology
Controls concepts and terminology
Control frameworks, including COSO
Annual audit planning and case study
o Depository institutions
o Financing companies
o Insurance companies
o Brokerage firms
o Mutual Fund companies
o Investment products
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Raven Global Training LLC
Programme Syllabus
Internal Audit for Banks & Financial Institutions
Two Day Outline
Front Office (trading activities, investment management, corporate
finance, and sales)
Middle Office activities (function that manages position-keeping,
transaction control, profit and loss controls, and risk management)
Back Office activities (administrative functions that support the trading of
securities, including recordkeeping, trade confirmation, trade
settlement, and regulatory compliance)
Day 2: Application to Banking and Financial Institutions
Audit engagement planning (1.5 hours)
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Audit project planning techniques
Engagement Level Risk Assessment tool
Audit opening meetings
Creating the audit program
o Setting engagement objectives
o Determining engagement scope
o Designing test steps
Case study (banking and financial institutions)
Performing tests of controls and substantial testing (1.5 hour)
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Gathering information
Sampling
Audit evidence
Testing techniques
Analysis and evaluation of information
Case study (banking and financial institutions)
Engagement documentation requirements (2 hours)
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Types of audit documentation
o Flowcharts
o Walkthroughs
o Narratives
o Review matrices
o Workpapers
Evaluation of process documentation
Workpaper reviews
Case study (banking and financial institutions)
Writing audit observations (1 hour)
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Raven Global Training LLC
Programme Syllabus
Internal Audit for Banks & Financial Institutions
Two Day Outline
5 elements of an audit observation
Writing techniques
Case study (banking and financial institutions)
Communicating audit results (1 hour)
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Selling the results to management
Conducting the exit conference
Case study (banking and financial institutions)
Performing follow-up activities (.5 hour)
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Reviewing management’s action plans
Case study (Banking and Financial Institutions)
The case study exercises will focus on risks in banking and financial institutions and
performing audits of depository institutions, financing companies, insurance companies,
brokerage firms, mutual fund companies, investment products, front office activities,
middle office activities, and back office activities. Participants will practice risk
assessments, audit planning, performing audit engagements, communicating audit
results and completing follow-up activities for banking and financial institutions.
ABOUT YOUR COURSE LEADER
Raven Henderson is a Certified Internal Auditor, Certified Financial Services Auditor,
and Certified Public Accountant. Raven is located in the District of Columbia, USA.
She is professional trainer and consultant with a diverse background in accounting,
auditing, and finance. Her experience includes financial reporting, internal auditing,
audit management, consulting, training, and organizational leadership. She has been in
the internal auditing profession for over ten years performing risk-based integrated
audits. Her rewarding audit experiences include auditing non-profits, mortgage
operations, capital markets, mortgage-backed securities, financial services, human
resources, and corporate affairs (budgeting, procurement, purchase cards, travel, etc.).
She assisted several Fortune 500 companies in establishing an internal audit
department, redesigning internal audit processes, and implementing Sarbanes-Oxley
programs.
Raven has been a facilitator since 2001 instructing courses in communication
techniques, interview skills, leadership skills, audit report writing, financial statements
audits, auditing standards, supervisor and management skills, enterprise risk
management, internal controls, corporate governance, and operational auditing. Her
expanding list of clients including the Institute of Internal Auditors (IIA), IIA affiliates,
Virginia Society of Certified Public Accountants, PricewaterhouseCoopers, George
Mason University, University of Maryland, energy companies, banks, retailers, nonRaven Global Training LLC
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Raven Global Training LLC
Programme Syllabus
Internal Audit for Banks & Financial Institutions
Two Day Outline
profits, state and local governments, and many Fortune 1000 companies. She’s had
the pleasure of presenting at national and international conferences and seminars. She
is committed to providing a learning environment where participants are able to have
fun, learn, share experiences, and retain information.
Before starting Raven Lane, LLC in 2006, offering training and consulting services in
Internal Audit, Risk Management, and Control Design & Analysis, Raven was a
Consultant for Jefferson Wells and a Senior Manager at Protiviti. As a consultant,
Raven served as an Interim Chief Audit Executive (CAE) for a non-profit healthcare
services company, a Deputy General Auditor for a non-profit scientific research firm,
and in internal audit managerial positions for financial services clients. She also held
internal audit positions with Freddie Mac, in McLean, Virginia; Bank of America
(formerly NationsBank), in Charlotte, North Carolina; and with Philip Morris in
Richmond, Virginia. She was also the Accounting Manager for a manufacturing
company in Ashland, Virginia.
Raven received her Bachelor of Science degree in Accounting from Virginia
Commonwealth University located in Richmond. She’s an active member of The IIA,
including serving as President, Board Member, and chairperson positions for the NOVA
and Charlotte chapters since 1998. She is currently serving a national role as a
committee member for the Caribbean Council and the Chapter Relations Committee of
the North American Board and as a District Representative for the Washington DC
Metro area. She is a member of the American Institute of Certified Public Accountants
and the Virginia Society of Certified Public Accountants. Raven is listed in the Who’s
Who in Executives and Professionals and Strathmore’s Who’s Who Worldwide.
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