When a problem occurs in an organization, it is followed by many questions — the first of which, and probably the most important, is “why?” To answer this all-important question thoroughly and completely, internal auditors should seek to identify the problem's origin - the root cause. A root cause analysis should be a core building block to help answer the question of “why” and enhance an organization's continuous improvement efforts.This instructor-led course will explore key root cause analysis tools and techniques that can be utilized in the planning, fieldwork, and reporting phases of an internal audit engagement; and enhance audit effectiveness, strengthen audit observations, and facilitate deeper discussions with management on issues identified. These tools can be used apart from or in conjunction with existing audit methodologies, tools, and techniques. Participants will have the opportunity to practice and apply the skills learned through a case study and exercises, can be immediately integrated into future audit engagements.
DESIGNED FOR
This course is intended for audit leaders who would like to gain an understanding of how root cause analysis concepts, tools, and techniques can be incorporated into audit strategies; audit managers interested in learning how to lead and manage root cause analysis efforts on audit projects; auditors-in-charge who want to develop skills for using root cause analysis when supervising audit projects; and senior and staff auditors seeking opportunities to practice root cause analysis during audit engagements will benefit greatly from the concepts in this course.
BENEFITS
Date(s) and Time: Jun 11, 13 from 12:30 PM - 4:00 PM ET
- Identify the purpose, importance, and key terms of root cause analysis.
- Recognize the importance of critical thinking in determining root cause.
- Identify the relevant International Standards for the Professional Practice of Internal Auditing (Standards) and related root cause analysis Implementation Guidance.
- Discover the importance of process documentation, and understanding it as the groundwork for effective root cause analysis, utilizing the process profile worksheet.
- Explore measures of success and trigger events as key elements in root cause analysis.
- Apply root cause analysis concepts, tools, techniques, skills, and templates within an audit setting.
- Describe how root cause analysis can be used to significantly enhance reporting of audit results.
Other Date(s) and Time:
- Oct 9, 11 from 12:30 PM - 4:00 PM ET
- Dec 4, 6 from 11:30 PM - 3:00 PM ET
HIGHLIGHTS
This course provides hands on application of techniques for conducting root cause analysis. Participants of this course will come away equipped to truly identify the root cause of audit findings, adding value to the internal audit process and establishing themselves as trusted advisors for the organization.
COURSE LEVEL
Intermediate
PREREQUISITES
Completion of Critical Thinking—A Vital Auditing Competency, or equivalent experience.
ADVANCE PREPARATION
None