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Overall Approach to a Systems-Based Audit

Friday, 21 December 2018  11:30 AM PST, 02:30 PM EST

Training Duration = 90 min                  Sponsored by Online Compliance Panel

Click Here to register $200.00

Click Here to register and receive CD recording $400.00

This webinar provides internal auditors with important information about how to approach their company's audit of internal controls. It presents an overview of the current role of the modern professional internal auditor with an emphasis on its primary role of opining on the adequacy and effectiveness of internal controls.

It shows the purpose and detail steps involved in an audit of the systems of internal controls from "cradle" to "grave." It gives the attendee a view of what corporate board members and regulators expect. It also clarifies key internal control terminology.
The presentation zeros in on:

  • Identifying what to audit
  • Understanding terminology
  • Obtaining corporate governance "buy in"
  • Identifying steps to be followed when conducting audits of internal controls

Learning Objectives:

Attendees will learn the following:

  • The various roles of internal auditors
  • The internal audit profession
  • The key job of the internal auditor
  • The step-by-step approach to audit of a system of internal controls in a business function
  • Reporting on adequacy
  • Possible reporting on effectiveness
  • When to test and when not to test internal controls

Why Should You Attend:

One should attend this training:

  • To obtain the big picture approach to an internal auditors to audit or review of an auditee's system of internal control (systems-based audit)
  • To learn about the various steps included in a systems-based audit
  • To discipline the meaning of key internal control terms
  • To emphasize the need for "buy in" by the corporate governors

Areas Covered

  • Beginning to end review of what is commonly called "system" of internal control
  • Reporting on adequacy and effectiveness of internal controls
  • Testing of internal control and when to do such testing


Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others.

He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.

He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination.

He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, "Accounting Basics for Community Financial Institutions" (Financial Managers Society, 2nd edition, Chicago, 2009) and the "Ideas an Analysis Letter: The Sanchez Take" (see

As a contributing author, his chapter on 'An Auditor's Approach to Risk-Based Auditing: What to Audit and When,' is included in the textbook, "Effective Auditing for Corporates: Key Developments in Practice and Procedures," (Bloomsbury Information, Ltd, London, 2012).