Guide to Internal Auditing - Printable Version

Internal Auditing, Internal Audit Planning, Risk Assessment, Gathering Evidence, Report Writing, Follow-Up

What you'll learn
Understand internal auditing's purpose, role in governance, and risk management.
Write impactful reports, present findings to management, and track recommendations.
Develop Audit Plans: Create risk-based audit plans, identify risks, and scope audits effectively.
Perform audits, gather evidence, assess controls, and document deficiencies.

Requirements
No programming required
No special equipment required
No experience required

Description
Gain a strong foundation in internal auditing principles, practices, and techniques. This course will equip you with the knowledge to assess organizational processes, identify risks, and contribute to improved governance and control. Whether you're new to auditing or looking to refresh your skills, this course provides a clear and engaging learning experience.
Modules and Lectures:
Module 1: Introduction
Lecture 1: Introduction
Module 2:Fundamentals of Internal Auditing
Lecture 2: Overview of Internal Auditing
: Define internal auditing, its purpose, and its role in organizational governance and risk management.
Lecture 3: Key Auditing Concepts:
Explain key terms such as assurance, risk, control, and materiality.
Lecture 4: The Three Lines of Defense Model:
Explore the roles and responsibilities of management, risk functions, and internal audit within the organization.
Lecture 5: Professional Standards and Ethics: Discuss the International Standards for the Professional Practice of Internal Auditing (IIA Standards) and ethical considerations.
Lecture 6: Career Paths in Internal Auditing: Highlight various career opportunities available to internal auditors.
Module 3: Internal Audit Planning and Risk Assessment
Lecture 7: The Internal Audit Plan:
Explain the process of developing a risk-based internal audit plan.
Lecture 8: Risk Assessment Methodologies:
Explore different techniques for identifying and evaluating risks, such as brainstorming, risk matrices, and process mapping.
Lecture 9: Scoping an Audit Engagement:
Explain how to define the scope and objectives of an individual audit.
Lecture 10: Resource Allocation:
Discuss considerations for allocating resources to various audit engagements.
Module 4: Conducting Internal Audit Engagements
Lecture 11: Gathering Audit Evidence:
Explain various techniques for collecting evidence, including interviews, observation, document review, and data analysis.
Lecture 12: Evaluating Internal Controls:
Discuss how to assess the design and effectiveness of internal controls, including preventive, detective, and corrective controls.
Lecture 13: Testing Controls and Identifying Deficiencies:
Explain how to perform control testing and document control deficiencies.
Lecture 14: Developing Audit Findings and Recommendations:
Discuss how to write clear and concise audit findings and provide actionable recommendations.
Lecture 15: Communicating Audit Results:
Explain the importance of effective communication with management and audit committees.
Module 5: Reporting and Follow-Up
Lecture 16: Internal Audit Report Structure:
Discuss the standard components of an internal audit report.
Lecture 17: Writing Effective Audit Reports:
Provide guidance on writing clear, objective, and impactful audit reports.
Lecture 18: Presenting Audit Results to Management:
Explain how to present audit findings to management in a professional and persuasive manner.
Lecture 19: Monitoring and Follow-Up:
Discuss the importance of tracking the implementation of audit recommendations.
Lecture 20: Continuous Improvement in Internal Auditing:
Explain how internal audit functions can continuously improve their processes and effectiveness.
Who this course is for:
Auditors
Accounting professionals
Business Managers
Risk Management Experts
Internal auditors

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