Fundamentals of Internal Auditing and Audit Report

• Identify the value proposition that stakeholders expect from the internal audit function.
• Recognize the role of The IIA in the internal audit profession.
• Recognize the various career opportunities in the internal audit field
• Describe the structure and core elements of the International Professional Practices Framework.
• Identify some of the frameworks used in the practice of internal auditing.
• Obtain a basic understanding of the internal audit process.

CONTENT

Internal Auditing Defined

• The Value Proposition
  • Assurance, Insight, and Objectivity
• Internal Auditing vs. Accounting
• The Nature and Scope of Modern Internal Audit Services
  • Mission
  • Professional Guidance
  • Professional Certifications
• Internal Audit Career Paths

Standards and Frameworks

• • Mandatory and Recommended Guidance
  • The International Standards for the Professional Practice of Internal Auditing (Standards)
  • Structure and Numbering System
  • IPPF Enhancements
• COSO Internal Control–Integrated Framework
• COSO Enterprise Risk Management (ERM) Framework
• IT Control Frameworks

The Internal Audit Process

• Introduction to the Engagement Process
  • Types of Internal Audit Engagements
  • Planning the Engagement
  • Performing the Engagement
  • Conducting Engagement Communications

Audit Findings

• Fundamentals Of Audit Reports
• Selling Your Report
• Strategies For Issuing Timely Reports
• Characteristics Of Effective Audit Reports

Audit Reports

• Fundamentals Of Audit Reports
• Selling Your Report
• Strategies For Issuing Timely Reports
• Characteristics Of Effective Audit Reports

Effective Audit Communications

• Possible Barriers To Overcome In The Interview
• Diffusing The Difficult Interview
• Do’s And Don’ts Of Effective Interviewing
• Strategies For Conducting Effective Closing Meetings

FOR WHOM:

All Internal Auditors and Risk Managers in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.