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Online course: ‘Performance Audit Methodology’

On 21-29 June, the Florence School of Banking and Finance offered on its Online School platform the first edition of an e-Learning course on ‘Performance Audit Methodology‘ developed by the European Court of Auditors, in the framework of an increased cooperation between the two institutions.

This e-learning course was designed to provide an overview on the basic principles and stages of a performance audit, based on the standards and guidelines developed by the International Organisation of Supreme Audit Institutions. The course started with the concept of the “thee Es” (economy, efficiency, and effectiveness) as the elements of a proper audit, before introducing learners to the differences between a performance audit and other types of audits, reviews, and evaluations.

The core of the course consisted of four modules, each focusing on the four stages of performance audit:

  • Selecting & understanding a performance audit: Following the steps to identify an audit area, understand it, and define precise audit questions to be answered by the audit;
  • Designing a performance audit: How to design the audit by defining the necessary audit evidence, identifying possible audit tools for its collection and analysis, and preparing an audit planning document;
  • Conducting a performance audit: How best to collect and analyse data, establish the audit evidence, manage the audit, and control for quality;
  • Reporting & follow-up on a performance audit: Appreciating the methods involved in reporting, like drafting conclusions and recommendations, structuring and publishing the report, and the carrying out follow-up on a performance audit.

57 participants from 41 different nationalities were admitted to the course. The feedback by users was overall very positive: participants appreciated particularly the structure of the course and its division in modules, its high level of interactivity, and the design of the quizzes, which allowed for an immediate application of the theory explained on real-life scenarios. Overall, 97% of the participants stated that the content and the format of the e-learning course met their expectations, while 98% found the key concepts to be well-explained.

To know more about the online courses offered at the Florence School of Banking and Finance, check out the online training courses page.