Internal Audit and Compliance Standards for Auditors Best Practices

Internal Audit and Compliance Standards for Auditors Best Practices is designed to provide auditors with the essential knowledge and skills needed to perform effective internal audits and ensure compliance with regulatory standards. This course covers key concepts, methodologies, and best practices in internal auditing, as well as practical techniques for assessing organizational processes and controls.
Course Objectives:
• Understand the role and importance of internal auditing in organizational governance and risk management.
• Familiarize with international auditing standards and compliance frameworks.
• Learn best practices for planning, conducting, and reporting on internal audits.
• Develop skills in identifying, assessing, and mitigating risks within an organization.
• Gain insights into effective communication and collaboration with stakeholders.
• Acquire practical techniques for evaluating internal controls and implementing recommendations for improvement.

Course Outline:
Introduction to Internal Auditing
• Role and significance of internal auditing in organizational governance
• Overview of international auditing standards and regulatory requirements
• Ethical principles and professional standards for auditors
Planning and Conducting Internal Audits
• Principles of audit planning, scoping, and risk assessment
• Conducting fieldwork: data collection, evidence gathering, and testing
• Interview techniques for gathering information and assessing controls
Compliance Standards and Frameworks
• Overview of key compliance standards and frameworks (e.g., COSO, ISO, SOX)
• Understanding regulatory requirements and industry-specific compliance obligations
• Aligning internal audit activities with compliance objectives
Reporting and Communication
• Principles of effective audit reporting: structure, content, and clarity
• Communicating audit findings and recommendations to management and stakeholders
• Following up on audit recommendations and monitoring implementation
Risk Assessment and Management
• Identifying and assessing organizational risks: strategic, operational, financial, and compliance risks
• Techniques for evaluating risk severity, likelihood, and impact
• Developing risk mitigation strategies and action plans
Evaluating Internal Controls and Best Practices
• Assessing the effectiveness of internal controls and risk management processes
• Benchmarking against industry best practices and standards
• Implementing recommendations for improving internal controls and processes

FOR WHOM:
All Internal Auditors 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: 25th – 28th  Mar,2025
2ND BATCH: 7th – 10th Oct ,2025