Auditing the Credit Department

MIS Training Institute (MISTI)
Training overview
2 days

Course description

Auditing the Credit Department

The 2-day Auditing the Credit Department seminar is designed to look critically at the credit department and examine a proven approach for auditing this important area. Participants will have the opportunity to learn about the role of the credit department within a major financial services organization through reviewing public information on current company structures.

During this course participants will also learn the following:

  • The risks of lending decisions 
  • The difference in audit approaches between the audits of personal and corporate lending
  • Personal and corporate credit analysis 
  • The latest regulatory requirements

Who should attend?

This course is suitable for Audit Committee Members, Credit and other Internal Auditors, Audit Directors and Managers.

Training Content

This course will cover the following topics: 

1. Introduction to Credit Risk

  • The functions of the credit department
  • Policies and procedures
  • The role of the Credit Committee
  • Credit Committee minutes

2. Lending

  • Understanding the risks of lending decisions
  • The difference in audit approach between the audits of personal and corporate lending
  • Planning the audit
  • Making credit looking forward
  • Exercise: develop a planning memorandum for auditing the credit risk management function

3. Personal Credit Analysis

  • Credit evaluation
  • Credit scoring and the use of external information
  • Model valuation
  • Collateral valuation
  • Know your customer
  • Personal credit documentation
  • Planning the audit of personal credit
  • Exercise: develop an audit plan to address personal credit

4. Corporate Credit Analysis

  • The nature of the risk
  • Balance sheets and financial analysis
  • Non• financial analysis
  • The credit report
  • The problems of corporate data
  • Corporate collateral and collateral management
  • Corporate credit documentation
  • Corporate ratings

5. Regulatory Requirements

  • The implications of the Basel Accord for credit audit
  • The latest tools and techniques to measure, manage, and monitor credit risk
  • Auditing the loss given default
  • Auditing the exposure at default
  • Auditing likelihood of default
  • Exercise: develop a series of audit plans to address these issues

6. Model Risk and the Credit Function

  • Auditing credit models
  • Sovereign credit ratings
  • Credit arrears and arrears reporting
  • Auditing credit risk calculations
  • Exercise: develop an audit approach for auditing credit models


The cost of this course is $2095 per participant. Request information to learn more!

Certification / Credits

Completion of this course is worth 16 CPE Credits



MIS Training Institute (MISTI)

With offices in London and Boston, MISTI is the global leader in IT audit, audit and information security training. Founded in 1978, MISTI has gained experience through training more than 200,000 delegates across five continents.  MISTI has made it their...

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MIS Training Institute (MISTI)

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This is a very specific topic program that is not really duplicated elsewhere. This was one of the reasons that I registered for the program. It was also a lot of information to put into the 2 days. I didn't mind it, but could see that it was a lot of information. Overall, a good program specifically aimed at credit.
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