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Tags: Internal Auditing

A guide for management, professionals changing career and those preparing for the CIA exams.

Last updated 2022-01-10 | 4.5

- What is Internal Auditing: understanding the principles and vocabulary
- The goals and scope of Internal Auditing
- The role and position of Internal Auditing within the Governance
- Risk Management and Control structure

What you'll learn

What is Internal Auditing: understanding the principles and vocabulary
The goals and scope of Internal Auditing
The role and position of Internal Auditing within the Governance
Risk Management and Control structure
The fundamental differences between external and internal auditing
What are the professional standards that govern Internal Auditing
How to ensure independence and objectivity of the Internal Audit function
The sourcing and funding models of an Internal Audit function
How to set up an effective Internal Audit function
What is the Internal Audit Charter
Internal Audit processes and methodology
Hot to interpret Internal Audit reports
What are the benefits and value added of Internal Auditing
The outlook and future developments of Internal Auditing

* Requirements

* No specific requirements but understanding the principles of governance
* risk management and finance will be beneficial.

Description

  • What is Internal Auditing: understanding the principles and vocabulary
  • The goals and scope of Internal Auditing
  • The role and position of Internal Auditing within the Governance, Risk Management and Control structure
  • The fundamental differences between external and internal auditing
  • What are the professional standards that govern Internal Auditing
  • How to ensure independence and objectivity of the Internal Audit function
  • The sourcing and funding models of an Internal Audit function
  • How to set up an effective Internal Audit function
  • What is the Internal Audit Charter
  • Internal Audit processes and methodology
  • Hot to interpret Internal Audit reports
  • What are the benefits and value added of Internal Auditing
  • The outlook and future developments of Internal Auditing

Course content

6 sections • 15 lectures

INTRODUCTION 3 lectures

Introductory Lecture Preview 06:02

Introduction to the course

Preliminary Quiz - Intro Preview 01:09

Preliminary Quiz

WHAT IS INTERNAL AUDIT: THE GOALS, SCOPE AND POSITIONING 2 lectures

The Definition and Scope of Internal Auditing Preview 14:59

1. What is an internal audit

2. Governance, risk management and control framework

3. Internal vs external audit

4. The mandatory nature of internal audit

5. Further reading

Professional Standards that Govern Internal Auditing Preview 14:16

1. The Institute of Internal Auditors

2. International Professional Practices Framework

3. Independence and objectivity of internal auditors

4. Dual reporting relationship of internal auditing


THE INTERNAL AUDIT SETUP AND METHODOLOGY 3 lectures

The Internal Audit Sourcing Considerations Preview 12:24

1. In-house vs outsourced internal audit function

2. Partial outsourcing and co-sourcing

3. The benefits and limitations of outsourcing

4. The added value of internal audit

5. Setting up an outsourced internal audit function

The Internal Audit Process and Methodology Preview 11:38

1. Internal Audit Charter

2. Audit universe and risk assessment

3. The risk-based internal audit plan

4. Ongoing monitoring and follow-up

Understanding Internal Audit Engagement Reports Preview 10:12

1. Objectives and scope

2. Observations and recommendations

3. Management action plans

4. Attributes of audit findings

5. Classification of audit findings

THE FUTURE OUTLOOK AND CONCLUSIONS 2 lectures

The Evolving Role and Future Outlook of Internal Auditing Preview 02:54

The shift from "policing" to adding business value

A Few Concluding Words Preview 01:11

BONUS LECTURES - TOPICS THAT WILL BE COVERED IN MY NEXT COURSE 4 lectures

What is a Cryptocurrency Preview 00:28

Convertible vs Non-Convertible Virtual Currencies Preview 00:54

Crypto Assets Preview 01:07

AML Risks Posed by Cryptocurrencies Preview 00:46

FINAL TEST 1 lectures

Final Test