Project Management for Audit Seniors (course)

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Audit Areas

This course begins by asking participants to describe their project management frustrations, which paves the way to exploring practical solutions that they support and are more likely to deploy. The course provides practical guidance for the blocking and tackling of project management on their jobs. We introduce the participants to a proven approach to successful project management that touches on five interrelated elements: scope, quality, effort, risk and time. Learning activities allow the participants to practice project management techniques under circumstances they are likely to encounter on their engagements.

Learning Outcomes

  • Identify project management assumptions during planning and anticipate scope creep.
  • Identify and assess project management risks and develop a mitigation plan.
  • Develop a preliminary work plan, identify its critical path, and address variances before the audit gets too far over budget.
  • Quickly identify and evaluate unexpected project management issues and work quickly to resolve them.
  • Create a realistic budget and use it to effectively manage the project.
  • Effectively communicate project management matters to key stakeholders.

Course Agenda

  • Overview of the Senior’s Project Management Responsibilities

    The participants explore the financial implications of project management and discuss real world challenges that result in jobs running over budget.
  • Introduction to SQUERT, a Project Management Model

    Participants are introduced to an audit-specific, dynamic model for managing their audits to a successful conclusion.
  • Clarifying Expectations and Managing Scope Creep

    Good project management starts with an understanding of who is responsible for what. Scope creep must be identified and managed because it can blur lines of responsibility and create confusion.
  • Planning for and Managing Project Management Risks

    Auditors are accustomed to identifying and assessing audit risk. This module takes that same principle and applies it to the risk of “What can go wrong?” in trying to complete the audit on time and under budget.
  • Managing the Schedule and Budget

    Participants learn to get into the habit of asking, “How does this change from our original audit plan affect my ability to meet the agreed-upon schedule and budget?”
  • Case Study: River Valley Bank

    Unexpected audit and accounting issues, a client management problem and a staff accountant gone rogue — can the Senior keep the job from going off the rails?