Advanced Internal Audit

Introduction

Ineffective internal audits can lead to severe consequences, including process failures, customer dissatisfaction, and regulatory noncompliance. Developing strong internal auditing skills is essential for organizations to maintain operational effectiveness and ensure adherence to industry standards. This course is designed to optimize your auditing capabilities, aligning with internationally recognized ISO 19011 guidelines for auditing management systems. Whether you're aiming to achieve certified internal audit status or looking to refine your internal audit skills, this course will provide you with the knowledge and practical expertise to conduct thorough and effective audits.

Course Objectives

• Gain confidence in preparing, conducting, and following up on audit activities: Master the complete audit cycle, from planning to execution and reporting.
• Learn to write factual audit reports and suggest corrective actions: Develop the ability to document audit findings and offer actionable recommendations.
• Understand the guidelines of management system auditing according to ISO 19011: Comprehend key principles, processes, and responsibilities involved in the auditing process.
• Enhance professional development: Strengthen your understanding of internal audit communication skills and leadership qualities to effectively manage internal audit teams.

Course Outlines

Day 1: Management Systems Overview

• Overview of internal audit and ISO 19011 guidelines for auditing management systems.
• Key audit terms and definitions.
• The audit process, including audit responsibilities, evidence, scope, objectives, and criteria.
• Principles of auditing and typical audit activities.

Day 2: Planning & Initiating the Audit

• How to plan and initiate an internal audit effectively.
• Reviewing documents and establishing audit objectives.
• Developing an audit program and audit sampling strategies.
• Creating an audit work document and audit plan.

Day 3: Executing the Audit

• Conducting an opening meeting and managing audit communication.
• Identifying and questioning attributes during the audit.
• Verifying audit evidence and documenting findings.
• Handling nonconformities and preparing audit conclusions.

Day 4: Defining and Developing the Internal Audit Process

• Developing an internal audit function and defining roles within the department.
• Distinguishing responsibilities between internal and external auditors.
• Building an Audit Committee Charter for effective governance.
• Reviewing international auditing standards and practices.

Day 5: Examining Audit Types and Risk Factors

• Differentiating between operational audits, financial audits, and compliance audits.
• Conducting fraud and forensic audits, and information systems audits.
• Analyzing audit risk factors and understanding the U.S. audit risk alerts.

Day 6: Selecting, Planning, and Conducting Internal Audit Examinations

• Developing and streamlining processes for internal audit examinations.
• Identifying effective audit methodologies for different types of audits.
• Engaging with the internal auditee to ensure cooperation.
• Evaluating internal control systems and managing audit logistics.

Day 7: Internal Audit Leadership

• Qualities of an effective internal audit leader.
• Leadership theory and management styles in internal auditing.
• Challenges faced by internal audit leaders and how to resolve them.
• Building and managing internal audit teams, both large and small.

Day 8: Effective Internal Audit Planning

• Determining risk maturity and creating a risk-based audit universe.
• Developing an internal audit strategy and aligning it with organizational goals.
• Coordinating with other assurance providers to optimize audit planning.
• Implementing an annual internal audit plan.

Day 9: Managing Internal Audit Resources

• Securing internal audit resources and maximizing efficiency.
• Managing dispersed teams and ensuring effective audit engagement.
• Handling co-sourcing and outsourcing of audit functions.
• Managing risk within the internal audit function.

Day 10: Stakeholder Relationship Management

• Stakeholder analysis and managing relationships with key stakeholders.
• Marketing internal audit within the organization.
• Conflict management, negotiation, and persuasion techniques.
• Networking strategies for internal auditors.

Why Attend This Course: Wins & Losses!

• Certified Internal Audit expertise will enhance your qualifications and career opportunities.
• Learn how to manage internal audit departments and improve overall efficiency.
• Develop a comprehensive understanding of audit communication skills, enhancing the effectiveness of audit reporting.
• Gain the ability to implement ISO 19011 auditing standards and improve organizational performance.

Conclusion

This Internal Audit course equips you with essential tools to become a highly skilled internal auditor. By understanding internal audit basics, gaining leadership capabilities, and mastering ISO 19011 guidelines, you will be able to deliver high-quality audits that identify risks, ensure compliance, and improve organizational processes. Whether you're pursuing internal audit certification or looking to enhance your auditing capabilities, this course offers valuable insights and strategies that will help you excel in your career.

Enroll now to enhance your internal audit communication skills, leadership abilities, and auditing expertise for a successful career in internal auditing.