Introduction:

 The Regulatory Compliance Auditing training course provides professionals with essential skills to audit and assess an organization’s compliance with regulatory requirements. In today’s complex regulatory environment, it is crucial to ensure that organizations adhere to relevant laws, standards, and guidelines. This course covers key aspects of regulatory compliance auditing, including risk assessment, audit planning, fieldwork, reporting, and follow-up, providing participants with practical tools to conduct effective audits that support regulatory adherence and organizational integrity.

Objectives:

• Understand the principles and importance of regulatory compliance auditing in risk management and corporate governance.
• Gain proficiency in planning, conducting, and documenting compliance audits across various regulatory frameworks.
• Develop skills to assess compliance risks, test controls, and identify gaps in regulatory adherence.
• Learn best practices for reporting compliance audit findings and recommending corrective actions.
• Strengthen communication skills to engage stakeholders in compliance matters and follow-up on audit results.

Who Should Attend? This course is ideal for:

• Compliance officers, auditors, and risk managers responsible for regulatory compliance.
• Internal auditors, legal advisors, and regulatory affairs professionals.
• Business leaders and managers overseeing compliance functions in regulated industries.
• Financial controllers and operations managers involved in compliance oversight.
• Any professional seeking to enhance their auditing skills with a focus on regulatory compliance.

Day 1: Foundations of Regulatory Compliance Auditing

• Introduction to Regulatory Compliance Auditing: Objectives, scope, and role in supporting governance and risk management.
• Key Regulatory Frameworks and Standards: Overview of major regulations such as SOX, GDPR, HIPAA, and AML.
• Types of Compliance Audits: Internal audits, external audits, risk-based audits, and special-purpose audits.
• Setting Audit Scope and Objectives: Defining clear audit objectives and scope based on regulatory requirements.
• Workshop: Case study on defining audit scope and objectives for a compliance audit in a regulated industry.

Day 2: Compliance Risk Assessment and Audit Planning

• Conducting a Compliance Risk Assessment: Identifying and prioritizing regulatory compliance risks.
• Audit Planning and Resource Allocation: Steps for developing an audit plan, including resource requirements and timeline.
• Compliance Testing Methods: Overview of testing techniques, including sampling, walkthroughs, and substantive testing.
• Documentation and Audit Trail Requirements: Ensuring documentation meets regulatory and audit standards.
• Practical Exercise: Developing a compliance audit plan based on a hypothetical regulatory risk assessment.

Day 3: Fieldwork and Testing Compliance Controls

• Fieldwork Techniques for Compliance Audits: Gathering evidence through observations, interviews, and document reviews.
• Evaluating Internal Controls for Compliance: Assessing the effectiveness of policies, procedures, and controls.
• Substantive Testing and Compliance Metrics: Using data and metrics to measure regulatory compliance.
• Identifying Gaps and Weaknesses: Techniques for detecting and documenting areas of non-compliance.
• Hands-on Lab: Conducting sample fieldwork and control testing for a simulated compliance audit case.

Day 4: Reporting Compliance Audit Findings and Recommendations

• Structuring the Compliance Audit Report: Key sections, including audit objectives, findings, recommendations, and action plans.
• Writing Clear and Actionable Recommendations: Techniques for creating recommendations that drive corrective actions.
• Presenting Findings to Stakeholders: Communicating audit results effectively to management and regulatory bodies.
• Managing Difficult Conversations: Approaches for discussing sensitive findings and gaining stakeholder buy-in.
• Practical Exercise: Drafting a compliance audit report with findings, recommendations, and an action plan.

Day 5: Follow-Up, Continuous Improvement, and Emerging Trends in Compliance Auditing

• Follow-Up on Audit Findings and Corrective Actions: Ensuring accountability and verifying remediation efforts.
• Continuous Monitoring for Compliance: Implementing ongoing monitoring programs to maintain regulatory adherence.
• Best Practices for Continuous Improvement: Strategies for enhancing the effectiveness of compliance audits over time.
• Emerging Trends in Compliance Auditing: Exploring trends such as digital compliance tools, AI, and real-time auditing.
• Final Workshop: Preparing and presenting a comprehensive compliance audit report for a simulated organization, including follow-up actions and monitoring recommendations.

Conclusion and Assessment: Participants will complete a final assessment to demonstrate their understanding of regulatory compliance auditing principles and practices. A feedback session will allow for discussion, sharing best practices, and identifying actionable steps to strengthen compliance auditing within their organizations.