Focus & Features:

At the end of the Course, the participants shall be able to:

  • Have comprehensive understanding of the Pawnshop business' key concepts, products, business objectives, core processes and risks involved.
  • Have enhanced knowledge on the key risks and controls identification, assessment and monitoring employed by Pawnshops, as well as on the rules and regulations governing the said business.
  • Formulate appropriate engagement strategy and approach, develop the tools needed in preparing the engagement plan, conduct appropriate reviews and tests, summarize, analyze and communicate the results and follow-through of the resolution of audit issues conducted.

What You Will Learn

I. Understanding the Pawnshop Business, Products, Business Objectives and Top/ Key Risks, and Core Processes

A. Strategic Thrusts for Pawnshop Business

(start with high-level discussion of Standards 2200, 2201)

B. Product Definition and Features

C. Key Business Objectives and Key Risks

1. Expectations of Stakeholders

2. Operations

3. Reporting (Financial/ Non-financial and Internal/ External)

4. Compliance

D. Core Processes

1. Sales

2. Operations

3. Accounting

4. Credit Risk Management

5. Operations Risk Management

II. Understanding the Pawnshop's governance framework and the widely recognized assurance model, as applied in the said business.

A. Governance Framework

1. Board of Directors and Committees

2. Senior Management

3. Operational Management

B. The Three (3) Lines of Defense

1. Business Process and Risk Owners

2. Compliance and Risk Management Internal Audit

III. Learn how to identify and measure the key risks

A. The Key Risks and Controls Identification and Assessment, and Examples of Audit Issues

1. Indicators under each of the 17 principles under the five (5) elements and of the COSO Internal Control Integrated Framework of


2. Corresponding Issues Commonly Noted

IV. Know how to formulate the engagement strategy and to develop the Audit/ Review Program Guides

A. Preliminary Assessment and Audit/ Review Strategy Formulation

B. Audit/ Review Program Guides Development

V. Summarizing and analyzing the audit results

A. Audit/ Review Results

1. Evaluation of Controls, Residual Risks, and Audit Issues

2. Analysis of Opportunities for Improvement

3. Assessment of Management's Response/ Action

B. Reporting of Audit Results to the Audit Committee and Discussion with Senior Management

C. Audit Issues Follow-through / Monitoring

VI. Overall Audit Assessment / Rating

Who Should Attend

This is a course offered for all Audit Team Leaders, Supervisors, and Managers, as well as key officers of pawnshops.


Gil Sorita

Assistant Department Manager at Land Bank of the Philippines

More about our speakers


St. Giles Hotel, Makati Avenue corner Kalayaan Avenue Makati City Philippines
Makati Avenue corner Kalayaan Avenue
Makati City, Philippines

See route

Contact us

For additional event or venue information, please email training@iia-p.orgYou can also reach us at +63 9409551

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