An introduction to internal auditing

As the profile of internal audit continues to rise, so do the expectations placed upon it and this is why it is important to understand the fundamental role requirements. This practical course will guide you through the principles and techniques of internal auditing to help you plan and perform internal audit work in line with the latest standards and best practice.

Who should attend?

  • the course is open to all.

What will I learn?

  • understand the organisation, planning and control of internal auditing
  • relate to the current philosophy and practice
  • realise and manage the behavioural implications of internal auditing
  • appreciate the essential techniques to be used.

Course programme

Internal audit role and objectives

  • defining internal audit
  • standards and guidance.

Internal audit approaches

  • compliance auditing
  • systems based auditing
  • alternative approaches.

Planning internal audit work

  • internal audit charter and universe
  • external influences
  • strategic, annual and assignment planning.

Risk, control and governance

  • defining risk
  • internal control
  • corporate control strategies
  • corporate governance
  • control and Risk Self Assessment (CRSA).

Control evaluation

  • control objectives
  • types of controls
  • evaluation tools and techniques.

An overview of IT auditing

  • IT audit areas
  • IT risks and controls
  • internal audit use of IT.

Relationships and communication

  • internal audit stakeholders
  • building relationships.

Features of interviewing skills

  • types of interview
  • essential elements
  • questions
  • note-taking aspects
  • body language.

Testing, sampling and working papers

  • testing framework
  • compliance and substantive tests
  • working paper strategy
  • working paper exercise.

Internal audit reporting process

  • reasons for reports
  • marshalling information
  • word choices
  • follow-up.

Risk management and internal audit

  • the process
  • role of internal audit
  • ERM and RBIA
  • problem areas.

Fraud and the internal auditor

  • what is fraud?
  • involvement of police
  • a fraud policy
  • role of internal audit.

Quality control of internal audit

  • opening exercise
  • qualitative aspects
  • performance measures
  • quality standards for internal audit.

Presented by
Graham Westwood FCCA CPFA FIIA

CPE competency areas covered

  • International professional practices framework
  • Governance, risk and control

21 CPE points

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