Course Objectives
The course will enable the participants to understand:

• the fundamental concepts and knowledge needed to succeed in the world of internal audit
• the professional standards, frameworks, and competencies needed to become competent in the profession
• the importance and value of internal audit within your organization
• the practice, planning, conduct and control of the Audit

Course Content
■    OVERALL FRAMEWORK FOR INTERNAL AUDITING
    ▸    Audit definitions, development and types
    ▸    Role and scope of internal audit
    ▸    International auditing standards and quality assurance frameworks
    ▸    Key concepts discussed - objectivity, independence, assurance and consulting
    ▸    The role of the audit committee and the audit charter
■    PLANNING AND FOCUS FOR EFFECTIVE AUDITS
    ▸    Focus session: internal controls and risk management - what they are and how to audit them effectively
    ▸    The 'audit universe' and the strategic audit plan
    ▸    The audit department and required competencies
    ▸    Audit documentation
■    THE AUDIT PROCESS
    ▸    The audit assignment plan
    ▸    Evidence - different types and what is meant by 'sufficient, relevant and reliable' evidence
    ▸    Key practical issues (1) - how to conduct an audit interview
    ▸    Audit testing, sampling and verification
    ▸    Fact recording
■    EFFECTIVE AUDIT DELIVERY
    ▸    The differences between an assurance and a consulting assignment - who are the clients and stakeholders?
    ▸    The importance of agreeing the assignment brief
    ▸    Key practical issues (2) - how to report the results of the audit
    ▸    Post-audit follow-up
    ▸    Quality evaluation process

Duration: 2 Days

Target Audience:     The course is designed for those new to internal audit or those who require a formal introduction to effective internal audit methodology.