Course Content
Develop evaluation plan
This topic covers: 1.1 Obtain and interpret information on organisation’s policies, procedures and compliance requirements 1.2 Develop evaluation methodology 1.3 Prepare evaluation plan, detailing established evaluation criteria and data to be collected 1.4 Confirm approval of plan from relevant stakeholders
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Identifying and gathering evidence
This topic focuses on these three steps: 2.1 Identify sources of information according to audit plan 2.2 Interview relevant stakeholders 2.3 Gather information and documentation
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Exit meeting and performance improvement
4.1 Review, assess, and reach agreement on audit team findings according to audit plan 4.2 Prepare for exit meeting 4.3 Examine results and findings against audit objectives and present to relevant stakeholders 4.4 Confirm reporting arrangements for the quality audit with the auditee 4.5 Explain context and consequences of audit and discuss follow-up 4.6 Review and submit final audit report according to audit plan 5.1 Provide feedback on performance to audit team 5.2 Encourage and support audit team to review their own work 5.3 Provide and document advice for individual improvement
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BSBAUD512 Lead quality audit
About Lesson

Developing performance improvement in audit team members is essential for enhancing the quality and effectiveness of audits. Here are three strategies that can be instrumental in achieving this goal: 

 

  1. Continuous Professional Education and Training

Implementation:

  • Structured Training Programs: Develop comprehensive training programs that cover technical skills, industry-specific knowledge, auditing standards, and soft skills such as communication and critical thinking.
  • E-Learning Platforms: Utilise online courses and webinars that allow team members to learn at their own pace and according to their individual learning needs.
  • Professional Certifications: Encourage and support team members in obtaining relevant professional certifications, such as Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or Certified Information Systems Auditor (CISA), to enhance their expertise and credibility.

 

Benefits:

  • Ensures team members are up-to-date with the latest auditing standards, methodologies, and regulatory requirements.
  • Enhances the team’s ability to identify risks, understand complex business environments, and apply best practices in auditing.
  • Builds confidence and competence, leading to more effective and efficient audit processes.

 

  1. Mentorship and Coaching Programs

Implementation:

  • Pairing Experienced Auditors with Newcomers: Establish a mentorship program where experienced auditors mentor junior team members, providing guidance, feedback, and support in their professional development.
  • Regular Coaching Sessions: Implement scheduled one-on-one coaching sessions to discuss progress, address challenges, and set development goals.
  • Feedback Mechanism: Create a culture of continuous feedback where team members can receive constructive feedback on their performance and areas for improvement.

 

Benefits:

  • Accelerates the learning curve for new auditors by providing them with hands-on, practical knowledge and insights from experienced professionals.
  • Facilitates personalised development plans, helping individuals to focus on specific areas of improvement.
  • Enhances team cohesion and morale by fostering a supportive and collaborative environment.

 

  1. Leveraging Technology and Tools

Implementation:

  • Audit Management Software: Invest in advanced audit management software that provides tools for planning, executing, and reporting on audits, as well as monitoring the progress of audit findings and recommendations.
  • Data Analytics Tools: Equip the team with data analytics tools to analyse large datasets, identify trends, and uncover potential areas of risk or non-compliance.
  • Collaboration Platforms: Utilise collaboration platforms that enable team members to communicate effectively, share documents and findings, and work together seamlessly, regardless of their physical location.

 

Benefits:

  • Increases efficiency and productivity by automating routine tasks and enabling more focused and strategic audit planning.
  • Enhances the quality of audits by providing deeper insights and more robust data analysis capabilities.
  • Facilitates better communication and collaboration among team members, leading to more cohesive and coordinated audit efforts.

 

 

Implementing these strategies can significantly contribute to the development and improvement of audit team members’ performance. By focusing on continuous learning, personalised development through mentorship, and leveraging technology, audit teams can enhance their skills, adapt to the evolving auditing landscape, and deliver high-quality audit results.