Fundamentals of Internal Auditing and Audit Report

OBJECTIVE

 Identify the value proposition that stakeholders expect from the internal audit function.
 Recognize the role of The IIA in the internal audit profession.
 Recognize the various career opportunities in the internal audit field
 Describe the structure and core elements of the International Professional Practices Framework.
 Identify some of the frameworks used in the practice of internal auditing.
 Obtain a basic understanding of the internal audit process.

CONTENT
Internal Auditing Defined
• The Value Proposition
o Assurance, Insight, and Objectivity
• Internal Auditing vs. Accounting
• The Nature and Scope of Modern Internal Audit Services
o Mission
o Professional Guidance
o Professional Certifications
• Internal Audit Career Paths
Standards and Frameworks
o Mandatory and Recommended Guidance
o The International Standards for the Professional Practice of Internal Auditing (Standards)
o Structure and Numbering System
o IPPF Enhancements
• COSO Internal Control–Integrated Framework
• COSO Enterprise Risk Management (ERM) Framework
• IT Control Frameworks
The Internal Audit Process
• Introduction to the Engagement Process
o Types of Internal Audit Engagements
o Planning the Engagement
o Performing the Engagement
o Conducting Engagement Communications
Audit Findings
• Fundamentals Of Audit Reports
• Selling Your Report
• Strategies For Issuing Timely Reports
• Characteristics Of Effective Audit Reports
Audit Reports
• Fundamentals Of Audit Reports
• Selling Your Report
• Strategies For Issuing Timely Reports
• Characteristics Of Effective Audit Reports
Effective Audit Communications
• Possible Barriers To Overcome In The Interview
• Diffusing The Difficult Interview
• Do’s And Don’ts Of Effective Interviewing
• Strategies For Conducting Effective Closing Meetings

FOR WHOM:
All Internal Auditors and Risk Managers in 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: 13th – 16th May, 2025
2ND BATCH: 25th- 28th Nov, 2025