Wednesday, June 28, 2017

Focus and Features:

The role of Internal Auditor in financial auditing is not to attest to the fairness of presentation of financial statements but focuses on the evaluation of the internal controls over financial reporting.  Hence, to effectively perform such role, Internal Auditors should adopt an effective approach to evaluating the internal controls over financial reporting.

This seminar outlines a contextual approach to evaluate controls over financial accounting by viewing financial statements not through the medium of accounting or bookkeeping cycle but rather taking the perspective that the structure of an entity’s financial position and changes therein are a function of its marketing, production, administrative, investment and financial plans, and activities.

This approach should give the Internal Auditor a real ability to decipher what happened to an entity from its financial statements and to derive what is going to happen to the entity as a result of its plans.  This enables the Internal Auditor to direct its effort and resources towards those areas of the financial statements that are likely to contain misstatements as a consequence of the risks faced by the entity, and evaluate the adequacy and effectiveness of internal controls.

What Will You Learn

Internal Audit’s Financial Auditing Role

Internal Audit Planning

  • Understanding the Business
  • Evaluations Business Ventures (Financial Statements Analysis

Risk and Control Analysis (RACA)

  • Evaluating Controls
  • Risk Prioritization
  • Gap Analysis (Residual Risks)

Audit Verification

  • Review of Accounts Payable Management Process
  • Review of Inventory Management Process
  • Review of Accounts Receivable Management Process
  • Review of Marketable Securities Management Process
  • Review of Cash Management Process
  • Review of Current Assets Management Process
  • Review of Working Capital and Financing Decision Process
  • Review of Financial Forecasting
  • Detailed Verification
  • Evaluation of Business Transactions (Analysis of Transactions)
  • Review of Short-term Credit for Financing Current Assets
  • Review of Long-term Financing Decision- Making Process
  • Review of Sources of Intermediate and Long-term Financing
  •  Review of Other Financing Processes

Overall Review

Evaluation of Business Ventures (Financial Statements Analysis)

  • Income Statement
  • Comprehensive Income
  • Balance Sheet
  • Cash Flow




Who Should Attend

This professional seminar is ideal for all auditors

Facilitator: Mr. Joseph Arlan C. Fajardo, CPA, CIA, CISA

                     Internal Audit Practitioner

Schedule: 21 – 22 July 2017

Time: 8:30am – 5: 00 pm

Venue:  St. Giles Hotel, Makati Ave., Makati City


Seminar Investment: 

Member’s Rate: Php9,000

Non-Member’s Rate: Php12,000

No. of CPE Credits : 18*

* IIA Certifications

*BOA Accredited CPD Provider


Seminar Inclusions:

  • Seminar Kit
  • Certificate of Participation
  • AM & PM Snack, Buffet Lunch


How to Enroll:

  •  email at or fax to 325.0414
  • call us at 940.9551 loc. 18 and look for Sheena Malapitan or  Thei Mendoza
  • Click here to register online