An Intensive 5-day Training Course
Opportunity Auditing
Delivering Measurable Benefits
Course Introduction
The risk-based focus being increasingly adopted is universally accepted as the new benchmark for Internal Audit. The flip side of risk, however, is opportunity. Specifically targeting significant areas of business opportunities can deliver major measurable benefits to the organization whilst at the same time reducing the associated risks.
This is particularly true if the areas of the business targeted are those which are often overlooked by management. With budgets under even greater scrutiny, demonstrating value for money is more important than ever.
This Opportunity Auditing training course will provide the tools and techniques to develop and deliver an opportunity focused plan and deliver measurable added value.
This Oxford Management Centre Opportunity Auditing training course will highlight:
- The power of opportunity auditing and value for money reviews
- A proven approach to target the audit programme to optimize success
- How to focus on areas of opportunity in regular assurance reviews?
- The way to identify and deal with over-managed business areas
- A simple method to reduce unnecessary controls
Objectives
By the end of this Opportunity Auditing training course, you will learn to:
- Apply the theory and practice of opportunity auditing
- Deliver real cost savings to the business
- More than cover the costs of your function with these cost savings
- Plan assignments effectively to focus on opportunity as well as risk
- Audit business areas which may have not been previously covered
- Assist management to simplify and streamline processes
- Measure performance in a more business centric manner
Training Methodology
This is a basic/intermediate level course and delegates are not required to have any previous experience in fraud prevention or detection to attend. Delegates should have a good educational standard and/or a professional qualification and no advanced preparation is required.
The delivery method will be Group-live with exercises and role-plays to simulate audit scenarios and situations that assurance professionals will encounter. A short examination will be given at the end of the course.
Organisational Impact
This Opportunity Auditing training course will benefit organizations in all business sectors. It will provide the basis for a subtle but hugely powerful shift in the focus of Internal Audit towards a much more consultancy and value adding approach. The financial and operational benefits will be significant.
This Opportunity Auditing 5-day training course will enable organizational knowledge to be enhanced in the following areas:
- Identifying processes which are carried out ‘just because they always have been’
- Determination of activities which add little business value and can be significantly reduced
- A focus on the 3 E’s (Economy, Efficiency, and Effectiveness)
- Identification and simplification of overlapping processes
- Reduction of over-managed risks
Personal Impact
Participants will increase their personal knowledge and performance abilities as follows:
- Understanding good management practice in quality, environment and health and safety
- Passing on best practice knowledge to staff they meet during audits
- Documenting and presenting to management observations and concerns in a concise manner so that improvement can be ascertained
- Advising their own organisation in improvement in quality, environment and health and safety
- Advising supplier organisations in improvement in quality, environment and health and safety
- Gaining knowledge of parts of their organisation that they would not normally see, thus offering themselves a greater flexibility to take on responsibilities in a wider range of departments
Who Should Attend?
This Oxford Management Centre Opportunity Auditing training course is suitable to a wide range of professionals but will greatly benefit:
- Audit Managers
- Senior and Lead Auditors
- Quality Auditors
- Heads of Audit (CAE’s)
- Managers needing a broader understanding of opportunity identification
Course Outline
Day One
Introduction to Opportunity Auditing
- Understanding the concept of opportunity auditing
- Importance and benefits of opportunity auditing
- Role of opportunity auditing in organizational success
- Identifying different types of opportunities
- Case studies and examples of successful opportunity auditing
Day Two
Opportunity Identification
- Techniques and methods for identifying opportunities
- Conducting market research and trend analysis
- Identifying customer needs and pain points
- Analyzing industry and competitor landscapes
- Brainstorming and idea generation for potential opportunities
Day Three
DAY 3: Opportunity Evaluation
- Assessing a potential opportunity’s viability and feasibility.
- Evaluating market demand and potential profitability
- Understanding the importance of risk management in opportunity auditing
- Recognizing and evaluating possible risks and uncertainties
- Developing risk mitigation strategies
- Analyzing resource requirements and constraints
- Conducting risk assessment and mitigation strategies
- Prioritizing opportunities based on strategic fit and goals
Day Four
Opportunity Planning and Development
- Performance evaluation and improvement targets
- Creating a roadmap for opportunity implementation
- Developing a comprehensive business plan
- Defining key objectives, targets, and milestones
- Allocating necessary resources and budgeting
- Identifying potential partners and collaborations
- Implementing continuous improvement practices
Day Five
Opportunity Execution and Monitoring
- Implementing the chosen opportunities
- Establishing effective project management practices
- Monitoring progress and measuring success metrics
- Addressing challenges and making necessary adjustments
- Reviewing and updating the opportunity execution plan
- Incorporating feedback loops and continuous improvement
- Developing a personal action plan for ongoing opportunity audit
Certificate
On successful completion of this training course, Oxford Management Centre Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor will be awarded to the delegates
Accreditation
In association with
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FREQUENTLY ASKED QUESTIONS
Yes, we provide assistance in securing both hotel reservations & entry visa on all our international training venues, for delegates attending our training courses. For further information / assistance, please contact our Customer Service at:
- Telephone: +971 50 985 0174
- E-mail: info@oxford-management.com
Yes, Oxford Management Centre is accredited by the following professional bodies;
National Association of State Board of Accountancy (NASBA)
The Oxford Management Centre is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit.
Yes, discounts are available. For further information please call +971 50 985 0174 or email, info@oxford-management.com
Note: Discounts are not applicable with any other special offer that may be available.
All course bookings made through Oxford Management Centre are non-refundable. By registering for a course, you acknowledge and accept that fees are payable in full and are not subject to refund under any circumstances, including but not limited to participant dissatisfaction, changes in personal or professional circumstances, or partial attendance.
Oxford Management Centre reserves the right to make reasonable adjustments to course content, trainers, or schedules where necessary, without entitling delegates to a refund. Full details of each course – including objectives, target audience, and content – are clearly outlined prior to enrolment, and it is the responsibility of the delegate to ensure suitability before booking.
There are 2 easy ways to register:
- Online: Select the training course you want to register for, Click the “Book Your Place” button on the course page, complete the form and click submit.
- E-mail: Send your details to info@oxford-management.com
We request that all cancellations be made at least one week before the class start date. You may reschedule this class without any penalty. If not, a $250 fee will be charged for cancellations received less than one week before a class begins and for no-shows. Cancellation penalties and any fees incurred by Oxford Management Centre will be deducted from refunds.
For more information request, email info@oxford-management.com or call +971 50 985 0174.
The classroom training fees include course presentation, relevant materials, physical & digital documentation, lunch and refreshments served during entire training. Accommodation and transportation are not included in the training course fees.
While, online training fees cover the course presentation and digital documentation and relevant materials.
The Oxford Management Centre Certificate of Completion with corresponding CPE credits shall be awarded to delegates who has successfully completed the training course.
Payment must be received before the training course commences. You can make payment by bank draft, cash, credit card or wire transfer.
Note: If the payment is not received, Oxford Management Centre has the right to refuse admission.
Upon receipt of your registration form, we will send you the following by e-mail:
- Registration Confirmation
- Invoice/Receipt (where appropriate)
If you register online you will receive an e-mail within 24 hours confirming your registration.
