Enhancing Internal Audit Practices: Internal Control Evaluation and Review

Enhancing Internal Audit Practices: Internal Control Evaluation and Review” is a specialized training program designed to equip internal auditors with advanced skills and techniques for evaluating, implementing, and reviewing internal controls within organizations. This course covers key concepts, methodologies, and best practices essential for ensuring effective internal control systems and enhancing audit effectiveness.

Course Objectives:
Understand the importance of internal control systems in organizational governance and risk management.
Learn techniques for evaluating and assessing the effectiveness of internal controls.
Develop strategies for implementing and strengthening internal control frameworks.
Gain insights into best practices for internal control documentation, monitoring, and review.
Enhance audit skills and techniques for conducting internal control reviews.
Acquire knowledge of regulatory requirements and industry standards related to internal controls and auditing.

Course Outline:
Introduction to Internal Control Systems
• Role and significance of internal controls in organizational governance and risk management
• Overview of internal control frameworks, including COSO and COBIT
• Understanding the principles of internal control effectiveness and efficiency
Evaluating Internal Control Effectiveness
• Techniques for assessing internal control design and implementation
• Identifying control weaknesses, gaps, and areas of improvement
• Conducting risk assessments and prioritizing control enhancements
Implementing Internal Control Frameworks
• Strategies for designing and implementing effective internal control frameworks
• Documenting control procedures, policies, and guidelines
• Establishing monitoring mechanisms and control activities to mitigate risks
Internal Control Documentation and Monitoring
• Best practices for documenting internal control processes and procedures
• Establishing monitoring and reporting mechanisms to ensure control effectiveness
• Conducting periodic reviews and assessments to identify control deficiencies
Internal Control Review Techniques
• Audit planning and scoping for internal control reviews
• Sampling methodologies and techniques for testing internal controls
• Reporting findings and recommendations for control improvements
Regulatory Compliance and Industry Standards
• Understanding regulatory requirements and industry standards related to internal controls
• Ensuring compliance with relevant laws, regulations, and corporate governance guidelines
• Implementing best practices for maintaining internal control effectiveness and sustainability

FOR WHOM:
All Internal Auditors in both the Public and Private Sectors.
METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 3rd – 6th June, 2025
2ND BATCH: 16th – 19th Dec, 2025