This online course aims to educate Audit Compliance Principals (ACPs) and Responsible Individuals (RIs) in developing a strong compliance function and preventing some of the recurring issues identified on audit monitoring visits. The course is presented by the ICAS Audit Monitoring team and across a number of modules, covering audit compliance responsibilities, key regulatory issues, common compliance failings, and key findings from ICAS audit monitoring visits.
While the webinar and course will be open to all audit professionals, there is a mandatory requirement as follows:
- All ACPs and RIs are required to view all modules of the online material, or attend a face to face course, once every 2 years;
- Newly approved RIs are required to view all modules of the online material, or attend a face to face course within 12 months; and
- Previously inactive RIs (i.e. approved RIs who are not signing audit reports), who have recommenced the role, are required to view all modules of the online material, or attend a face to face course.
The available videos are:
RCA and action plans: Part one
This video provides an introduction to the remediation requirements of ISQM1, including the requirements to conduct root cause analysis and action plans.
RCA and action plans: Part two
This video provides real life case studies on ‘what good looks like’ when conducting root cause analysis and action plans, our monitoring results and how to avoid pitfalls found during audit monitoring visits.
