Introduction and Expectations for Compliance Auditing & Monitoring
Speaker: James Rose
- Understand where auditing & monitoring fit within an effective compliance & ethics program
- Identify legal and regulatory expectations for auditing and monitoring
- Identify and apply useful frameworks for auditing and monitoring
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Planning Considerations - Part 1
Speaker: Jim Passey
- Design of a risk-based auditing and monitoring plan
- Scope and frequency considerations
- Understand documentation considerations
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Planning Considerations - Part 2
Speaker: James Rose
- Understand the types of procedures and approaches to auditing and monitoring
- Differentiate and design tests of controls and substantive tests
- Sampling considerations
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Use of Data and Analytics in Compliance Auditing & Monitoring
Speaker: Elizabeth Simon
- Design of effective compliance data analytics targeting specific risks
- Detecting red flags of compliance or internal control failures
- Following up on the results of analytics
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Handout - Spreadsheet
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Dealing with Modifications to the Audit Plan
Speaker: Jim Passey
- Scope limitations and other difficulties encountered
- Understanding when to expand the scope and how to avoid scope creep
- Handling surprise findings, including understanding when to escalate to an investigation
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Audits of Third Parties
Speaker: Miaja Cassidy
- Audits rights clauses in contracts and access to information
- Methods and planning considerations
- Dealing with findings and other problems
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Reporting and Corrective Action Plans
Speaker: Elizabeth Simon
- Format and key elements to include in a report
- Reaching agreement and following up on corrective action
- Following up on findings and results of auditing and monitoring
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Handout - PowerPoint
Handout - Word Document
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Subjective Considerations in Auditing and Monitoring
Speaker: Jim Passey
- Dealing with resistance to scope, findings, and outcomes
- Collaboration and negotiation on audit process and outcomes
- Communicating auditing & monitoring activities to process owners and other stakeholders
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Final Considerations
Speaker: Miaja Cassidy
- Assessing the effectiveness of the compliance and ethics program
- Assessing organizational culture, culture audits, etc.
- Focus on continuous improvement
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