Internal Audit: From Planning To Execution

Internal auditing plays a crucial role in ensuring effective governance, risk management, and compliance across modern enterprises. This course equips finance, accounting, and audit professionals with advanced skills to plan, execute, and report audits effectively. Participants will explore robust methodologies and data-driven techniques to address evolving business risks, fraud, and IT vulnerabilities, enhancing their organization’s audit quality and resilience.

• Define clear audit objectives and design structured audit plans tailored to organizational risks.
• Select and apply suitable audit methodologies, including risk-based and control-based approaches.
• Conduct and document fieldwork proficiently, using effective data collection and control testing methods.
• Identify and address fraud risks and cybersecurity threats through specialized audits.
• Implement quality assurance measures and drive continuous improvement in audit practices.

• Internal Auditors
• Finance and Accounting Professionals
• Risk and Compliance Officers
• Audit Managers and Supervisors

Module 1: Foundations of Internal Audit

• Role of internal audit in GRC
• Differences between internal and external audits
• Principles and standards of internal auditing

Module 2: Planning the Audit

• Setting audit objectives and scope
• Risk identification and assessment
• Developing effective audit plans

Module 3: Audit Methodologies and Approaches

• Overview of audit methodologies (risk-based, control-based)
• Selecting methods for different audit contexts
• Incorporating technology and data analytics

Module 4: Data Collection and Evidence Gathering

• Techniques for evidence collection
• Sampling and statistical methods
• Documenting and maintaining audit trails

Module 5: Conducting Fieldwork

• Interview techniques
• Walkthroughs and control testing
• Overcoming fieldwork challenges

Module 6: Communication and Reporting

• Effective communication with auditees
• Report structure and clarity
• Presenting findings to stakeholders

Module 7: Fraud Detection and Investigation

• Recognizing signs of fraud
• Fraud risk assessments
• Legal and investigative protocols

Module 8: IT Audits and Cybersecurity

• Auditing IT systems and networks
• Evaluating cybersecurity controls
• Compliance with data protection standards

Module 9: Audit Quality Assurance

• Internal audit QA programs
• Peer reviews and assessments
• Enhancing audit effectiveness

Module 10: Continuous Improvement and Trends

• Using findings for improvement
• Adapting to GRC changes
• Embracing technology in audits

The course combines various teaching methods, including instructor-led presentations, group discussions, case study analyses, and assessments through quizzes and a final exam to engage participants and ensure they understand and retain the material.