Value for Money and Performance Auditing - MIS Training

The Global Leader In
Audit and Information Security Training
Value for
Money and
Performance
Auditing
How auditors can add value by
assessing value for money
3 DAY COURSE:
28 - 30 March 2012
Nairobi
Internal Audit
Course Director
Jane Needham
Specialising in corporate governance, risk
management and business process
improvement
‘An excellent training
opportunity for auditors
carrying out risk based
audits to move to the
next level’
Principal IA,
Safaricom Ltd
■ Understand the purpose of value for money (VFM) /
performance review and its applicability to your
business
■ Make use of best practice developed in the public
sector to drive real benefit within the private sector
■ Know how to plan, deliver and report on
VFM/performance audits
■ Learn how to apply VFM auditing techniques to assess
“economy, efficiency and effectiveness” in a wide range
of business scenarios
■ Be equipped to produce reports that maximise impact,
drive improvement and add real value to your business
Save up to
50%
with In-House Training.
Details inside
Register Online at:
www.mistieurope.com/training
Quoting Code:
IA120310-W

Value for
Money and
Performance
Auditing
Course focus and features
Value for money and performance audit are subjects that are
often dismissed as being relevant only to the public sector.
However, the techniques used can be of equal relevance,
importance and value to the private sector model.
This course aims to bring some clarity to the subject (indeed what is
the difference between “value for money” and “performance” audit?!)
and to equip candidates to understand a range of techniques for
assessing the economy, efficiency and effectiveness of their business
areas, functions, services and projects.
How auditors can add value by
assessing value for money
The course provides practical advice and significant hands-on
participation to ensure that candidates leave with knowledge not
only of the theory behind VFM, but also how to put that theory
into practice. A range of scenarios will be covered, with
candidates being given an opportunity to consider relevant topics
of their choice. Participants will receive sample documents,
diagrams and checklists that will support them in applying the
concept within their day jobs.
The course is designed for internal auditors who are looking to
expand their remit into VFM / performance reviews and, as such,
a basic understanding and experience of internal audit
procedures is ideally assumed.
Course Director
Jane Needham
Jane Needham is an independent consultant and trainer
specialising in corporate governance, risk management and
business process improvement.
Jane’s career started by training as a Chartered Accountant
with Ernst & Young in Manchester, and then working for a
number of years at ICI plc, both in the Group Internal Audit
function and in a finance line-management role. Jane then
returned to her home island of Guernsey in the Channel
Islands, where she was appointed Director of Risk &
Assurance for the island’s government. As part of this role,
Jane was Chief Officer of the States of Guernsey Audit
Commission, a pre-cursor to the recently established island
Public Accounts Committee. During her time with the Audit
Commission, a statutory value-for-money review body, Jane
carried out and commissioned a number of VFM /
performance reviews into various aspects of island life.
Jane is a non-executive director of a custodian division of
HSBC and a member of the Audit, Risk & Remuneration
Committee for a regulatory authority. She recently sat as a
member of the working party drafting the new National
Occupational Standard for Risk Management in the Financial
Services Sector. As well as a member of the ICAEW, Jane is
also a member of the Institute of Risk Management and an
associate member of the Institute of Internal Auditors.
Who Should Attend
Chief Internal Auditors, Internal Audit Managers, Lead Auditors
and experienced Audit Practitioners (private, public and notfor-profit)
Prerequisite: Internal Audit skills and experience
(at least standard of “Fundamentals of Internal Auditing”
course)
Advanced Preparation: None
Training Type: Group-Live
Learning Level: Intermediate
Price: GBP £1,795
CPEs: 22
Telephone:
+44 (0)20 7779 8456
Email:
training@mistieurope.com

Day One:
VFM - the background
and basics
Wednesday 28th March
Introduction and Course Objectives
Session 1:
Setting the “VFM” Scene
• The public sector VFM agenda
• VFM Audit bodies
• Applicability of VFM to the private vs. public
sector
Session 2:
Context and Definitions
• The link between VFM audit and other "value"
methodologiest
• The link between VFM audit and other assurance
roles
Group work
Session 3:
The three ‘E’s of VFM
• An introduction to “economy, efficiency,
effectiveness”
• Some other common 'E's
Voting exercise
Session 4:
Developing a VFM Audit Programme
• Corporate agenda and initatives
• Assessing overall arrangements for VFM
• Cutting your cloth
• The value objective
• VFM risk assessments
Risk assessment exercise
Session 5:
Readiness Check
• Is your organisation ready?
• Is you audit team ready?
• VFM audit objectives
• What value does VFM audit provide?
• VFM auditing standards
• Skills and resources required
• Managing stakeholders
Group work exercises
Day Two:
VFM - audit planning
and delivery
Thursday 29th March
Session 1:
VFM Techniques
• The range of techniques available and their
usefulness / applicabiilty
• Consideration of the "controls-based" approach
vs. the "performance-based" approach
Session 2:
Defining the "audit questions"
• Is there a question worth answering?
• Can it be answered?
• Prioritising the questions
Case Study Part I: Issues Analysis
Session 3:
Planning the VFM Audit
• Research, research, research!
Case Study Part II: Initial Review
• Managing the audit risks
Case Study Part III: Risk Assessment
• Defining the scope
• Determining resources
Case Study Part IV: Drafting the Audit Proposal
Document
Session 4:
Overview of the VFM Process
• The VFM Decision Flowchart
• Determining the Audit Criteria
Case study part V: Audit Criteria
• VFM Audit Evidence:
• What evidence is needed?
• Evidence collection methods
• Standard of evidence
Case study part VI: Evidence
Collection Plan
• VFM audit findings
Day Three:
VFM - audit delivery,
reporting and close
Friday 30th March
Case Studies
The morning of Day Three is given over to
comprehensive case studies covering each of the
three main 'E's. Delegates will be given the
opportunity to work on topics relevant to their own
organisations.
Session 2:
Audit Completion
• Documenting the audit
• Supervision and review
• Quality Control
• The right of reply!
Session 3:
VFM Audit Reporting
• Planning the VFM audit report
• Reporting objectives
• Maximising your impact
• The reporting process
• The follow up process
Exercise: Demonstrating the Value Added
Course review and closure
A tailored and personalised In-house service
Save up to
50%
with In-House Training.
Why choose our In-house training
Savings - Running an in-house course in your offices will ensure you avoid the
costs of travel and accommodation. Plus we charge per day not per delegate.
You can train six or sixteen people for the same price!
Convenience - We can arrange a course that fits your team’s schedule. Any dates, any
location, simply tell us what works best for you. Avoid the hassle of coordinating travel
arrangements and accommodation for your staff
Tailored training - We have over 150 existing training courses you can mould to fit your
exact requirements or if you prefer we can just create a new agenda. You will have complete
control over the course content
Confidentiality - You can focus on potentially thorny issues that may be specific to your
organization which are best resolved in private with the expert guidance of your course director
Some of the companies we have
worked with
PwC • International Labour Office • Barclays •
Capital One • Legal and General • Deloitte •
European Court of Auditors • Lukoil • Credit
Suisse AG • Euroclear • AIB • U.S. Steel,
Corp. • Novartis • National Commercial Bank
• Qatar National Bank
Email: Omar Khazen, Head of In-House
Training at training@mistieurope.com
or call: +44 (0) 20 7779 8456
Register Online at:
www.mistieurope.com/training
Quoting Code:
IA120310-W

The Global Leader In
Audit and Information Security Training
Value for
Money and
Performance
Auditing
How auditors can add value by
assessing value for money
Register Online at: www.mistieurope.com/training
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IA120310-W
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NAIROBI
28 - 30 MARCH 2012
PRICE GBP £1,795
Price includes tuition, course folder
with all course notes, lunch and
refreshments and a prestigious
certificate. Delegates are responsible
for their own accommodation. You
can request an invoice or pay online.
Please note, payment must be
received prior to course start.
7 Reasons to Choose MIS Training
1 4
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We are the global leader in Audit, Risk, Fraud and
Security Training, with over 30 years experience and
having trained over 200,000 delegates. Our clients
include; European Central Bank, National Audit
Office, Ministry of Defence, European Court of
Auditors, Euroclear and the World Bank
Our course directors have at least 15 years relevant
experience for companies such as Shell, ABN
AMRO, HSBC, ICI, Zeneca, American Express and
Merrill Lynch and Co. Many are published authors
and sit on boards of prestigious associations such
as the IIA and ISACA
Your course instructor will welcome any post
course follow up. The training course doesn’t stop
as soon as you leave
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Each course is reviewed and revamped regularly to
ensure it addresses the latest legislative and
market changes
We are registered with NASBA. You will be able to
gain CPE points towards your accreditation
We have been accredited by the British
Accreditation Council (BAC). The BAC is recognized
the world over and represents the clearest mark of
educational quality. BAC is recognized by the UK
Border Agency
Our public courses take place in luxury 4-5 star
hotels in capital cities across EMEA. We include a
complimentary 3 course lunch every day as well as
refreshments throughout so you can enjoy your
training in complete comfort
Group Booking Discount**
2 delegates -
5% discount
3 delegates -
10% discount
4 delegates -
12% discount
5 delegates -
15% discount
**Available for delegates from one organisation attending the same course
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