Audit, Risk And Governance (Internal Audit)

Overview

As organisations and the world they operate in become more complex, so IA is gaining a steadily higher profile. Internal auditors, along with executive management, non-executive management and the external auditors are a critical part of the top-level governance of any organisation.

An internal auditor’s knowledge of the management of risk enables them to act as consultant and catalyst for improvement in an organisation’s practices.

By reporting to senior management that important risks have been evaluated and highlighting where improvements are necessary, the internal auditor helps senior management to demonstrate that they are managing the organisation effectively on behalf of their stakeholders.

This course will explain everything you need to know about modern internal audit, in order that you can benefit from and contribute to the work carried out by this key function.

Contents:

- The modern Internal Audit function

- Perceptions of Internal Audit

- What is Internal Audit?

- How does the role differ from other assurance providers?

- The Internal Audit basis

- Meeting with functional management to discuss the audit

- The risk based approach and the importance to business

- Steps in an audit

- Risk based auditing requirements

- Risk based audit step-by-step

- Consultancy assignments

- The audit process and links

- Audit programmes and testing

- The clearance or closing meeting

- IA relationship with the board and audit committee

- Meeting stakeholder expectations

- The audit report

- Getting commitment to action

Who Should Attend:

- Business Managers and their senior staff

- Finance professionals

- Managers in cross-cutting functions such as HR and IT

- Personnel in other assurance functions who need a better understanding on the modern internal audit role

Benefits of Attending:

1. Appreciate the key aspects of the Internal Audit (IA) role

2. Understand why auditors are not the police

3. Develop better working relationships with IA

4. Recognize the differences between the IA, external audit and quality audit roles

5. Benefit from the work carried out by IA

6. Ask IA for their advice more easily

7. Know how IA can help you get decisions made