Internal Audit and Control Best Practices

Course overview

Internal audit is most valuable when it understands the organisation's risks and controls well enough to give boards real assurance. Too often it is reduced to checking vouchers. This internal audit and control course builds a solid understanding of modern internal audit practice and of the control environment it assesses, for both public and private organisations.

Participants examine the purpose and mandate of internal audit, its relationship with boards, audit committees and management, and the difference between assurance and consulting engagements. They study governance principles, enterprise risk management and recognised internal control frameworks, and learn to plan risk-based engagements, develop work programmes, test controls and evaluate results. Reporting receives detailed attention: identifying reportable matters, writing clear findings, quality assurance and follow-up. The course closes with ethics and the role of internal audit in preventing and detecting fraud, illustrated with regional cases.

Participants leave with a clear framework for planning and delivering internal audit work that adds value and strengthens control.

What you will be able to do

• Explain the mandate and scope of internal audit
• Describe internal audit's relationships with boards, management and audit committees
• Distinguish operational, financial and compliance audits
• Apply governance, risk management and control frameworks
• Plan and perform risk-based audit engagements
• Write clear audit reports and follow up recommendations
• Explain internal audit's role in ethics and fraud prevention

Who should attend

For internal auditors, accountants and managers who conduct, support or rely on internal audit work.

• Internal auditors
• Accountants
• Finance managers
• Risk and compliance officers
• Public sector officers working with audit
• Audit committee members

Course outline

Fees are per participant in US dollars and cover tuition, course materials and your certificate. Travel and accommodation are not included.