Introduction to professional internal auditing (3)

Upon completion you will have a better appreciation of:

• the role and remit of internal audit within an organisation
• the requirements of the International Professional Practice Framework (IPPF)
• governance, risk management and control concepts
• internal audit methodologies and processes
• the techniques used for planning and conducting internal audit engagements
• how to draw conclusions and report on the results of internal audit work
• key aspects of internal auditing related to Information Technology
• how to fulfil internal audit’s role in relation to fraud risk
• key requirements for the effective management of internal audit activities
• the range of internal audit stakeholders and their varied perceptions
• the ways technology can be used to enhance internal audit effectiveness
• the broad range of competencies required by internal auditors
• the means by which the quality of internal audit is assured.

Internal audit role and objectives

• the purpose, authority and responsibility of internal audit
• the remit, scope and focus of internal audit
• the Charter for Internal Audit
• the position of internal audit within the governance of an organisation.

Professionalism in internal audit

• the International Professional Practice Framework (IPPF)
• mandatory and recommended guidance
• the application of ethics in internal auditing
• independence and objectivity.

Governance, risk management and control

• risk and control concepts
• internal control frameworks
• control and risk self-assessment
• risk management frameworks and processes
• corporate governance – key components
• the role of internal audit in governance, risk management and control.

Internal audit methodologies

• compliance and transaction-based approaches
• systems/process-based approaches
• risk based internal auditing
• adapting approaches for varying subject matter
• agile internal audit methodologies.

Internal audit processes

• defining the internal audit universe
• periodic and assignment planning
• interviewing skills
• information gathering techniques
• evaluating control design
• internal audit testing
• documentation and evidence requirements
• analysing internal audit results and developing findings
• internal audit reporting
• follow-up activities.

An overview of IT auditing

• the role of IT within an organisation
• IT governance
• the IT risk landscape
• internal audit responsibilities regarding IT.

Fraud - internal audit perspectives

• the nature of fraud risk
• fraud risk management
• the role of internal audit regarding fraud risk
• considering fraud throughout the internal audit process
• identifying indicators of potential fraud.

Managing the internal audit activity

• the range of documentation within an internal audit activity
• developing an internal audit strategy
• resourcing models for internal audit services
• coordination with other assurance providers
• communicating with senior management and the board.

Internal audit stakeholders

• the range of internal audit stakeholders
• stakeholder perceptions

The use of technology in internal auditing

• automated internal audit processes / documentation
• data analytics / data mining
• robotic process automation in internal audit
• continuous auditing
• artificial intelligence.

Internal audit competencies

• knowledge and skills for internal auditors
• proficiency and due professional care
• maintaining and improving competency. 

Internal audit quality

• quality assurance and improvement programmes
• measuring internal audit performance.

• Professionalism (All areas)
• Performance (All areas)
• Environment (Information technology)
• Leadership and communication (All areas)