The Internal Auditing Principles Training Course covers the fundamental principles and practices of the internal audit profession employed within modern-day organisations to provide students with a comprehensive view of the principles, standards and processes that comprise the audit function for internal operations. It explains the core purpose of internal auditing for providing corporate governance, risk management and compliance with rules regarding how organisations operate internally. Upon completion of this course, participants will have an in-depth understanding of how to plan, execute, document and report on internal audit occurrences and their follow-up actions as specified through recognised international professional standards. The course also provides participants with an excellent foundation in internal audit theory with a strong emphasis placed on the practical aspects of the internal audit profession faced by practitioners in virtually every industry.
The course is designed to blend classroom instruction and hands-on experience so that all participants will understand the benefits of internal auditing far exceed just adhering to established rules and regulations. Participants will also identify the effects of unethical behaviour in internal auditing, the importance of independence and objectivity in performing their job functions, and how internal auditors work closely with organisational management and audit committee members. Through the use of the guidelines set forth by the professional standards published by the Imperial Corporate Training Institute, this course prepares students to develop the analytical mindset, decision-making skills, and technical knowledge to perform high-quality, value-added, reliable internal audit engagements in a constantly evolving business world today.
Objectives
By the end of the Internal Auditing Principles Training Course, participants will be able to:
- Gain a clear understanding of the internal audit function’s role, authority, and governance within organisations.
- Be able to define the relationship between internal audit, risk management, and the governance framework.
- Understand how international standards set forth essential principles for conducting internal auditing.
- Identify and assess the risks associated with an organisation, and how the identified risks may impact the development of internal audit plans.
- Demonstrate the ability to develop risk-based internal audit plans that are aligned with the objectives of the organisation.
- Have an understanding of internal control frameworks, and be able to evaluate the effectiveness of internal controls.
- Demonstrate the ability to apply ethical principles and independence/objectivity in performing internal audit-related activities.
- Demonstrate through first-audit procedures, an understanding of how to perform various internal audit procedures for both operational and financial areas.
- Understand how to document the internal audit procedures performed and maintain adequate audit evidence of the procedures performed.
- Provide a clear communication of the verified audit findings to management in a structured report format.
- Understand the process of follow-up and monitoring for corrective action.
- Continue to expand upon the usage of critical thinking and professional judgement when performing auditing services.
Target Audience
This Internal Auditing Principles Training Course is suitable for a wide range of professionals involved in audit, finance, and governance functions, including:
- Internal auditors seeking to strengthen their foundational knowledge
- Junior and entry-level auditors starting a career in internal auditing
- Finance and accounting professionals transitioning into internal audit roles
- Risk management and compliance officers involved in control assessment
- External auditors who wish to gain insight into internal audit processes
- Financial controllers and finance managers responsible for internal controls
- Governance, risk, and compliance (GRC) professionals
- Public sector auditors and inspectors
- Professionals preparing for advanced internal audit or professional certification programmes
- Managers and supervisors who interact with internal audit teams