myCPE
myCPE

Internal Audit Standards 6.5 Credits

Jan 31, 2024, 12:00 PM ET

Internal Audit Standards 6.5 Credits

  • Rating

    4.5
  • Reviewed on

    February, 2024
  • Subject Area

    Auditing

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Jan 31, 2024, 12:00 PM ET

Learning Objective

  • To explore the mission of Internal Audit (IA) as defined by the Institute of Internal Auditors (IIA).
  • To explore the Mandatory Guidance and core principles as identified by the Institute of Internal Auditors Standards.
  • To explore the IA Code of Ethics as defined by the Institute of Internal Auditors and to discover the many facets of effectively managing the internal audit function.
  • To identify the challenges and alternative solutions internal auditors can consider when attempting to manage the function in line with the Standards while also balancing management expectations.
  • To discover the nature of work outlined by the Institute of Internal Auditors (IIA) Standards with which the internal auditors are directed to be involved including control reviews, risk management, and governance.
  • To identify the challenges and alternative solutions that internal auditors may face and use respectively when attempting to execute the various forms of control reviews, risk management projects, and governance reviews.
  • To explore elements of planning the audit engagement.
  • To identify methods for appropriately executing the audit engagement and methods of communicating results to management and the board.
  • To discover the requirements for monitoring audit issues.
  • To recognize methods for communicating the acceptance of risk.

Course Overview

Internal audit is a very crucial part of the audit process. It has a standardized procedure that provides essential backbone support to the main audit. A value-oriented internal audit is a requirement that lends essential efficiency to the audit. Understanding and adherence to the standards provide a stronger chance of effective internal audit execution. This full-day online CPE webinar on internal audit takes into account the need for auditing standards, and how to execute those standards. It also touches precisely on what could be the risks of negligence in the standards.

Corporate management personnel often are not aware that internal auditors have standards and guidelines defined by the profession. Internal Audit (IA) is not always seen as those that must follow established professional standards. Internal auditors don’t have a “license to practice”. This CPE webinar will delve deep into the major components of the Standards and their meaning to the profession.

Institute of Internal Auditors (IIA) Standards to guide the most effective execution of the internal auditor’s fiduciary role. It provides the foundation for the profession. They are written to ensure effectiveness and consistency in the execution of internal auditing. This course will focus on managing the internal audit function and the nature of work considered within the realm of internal auditing. It also identifies the internal auditor’s role in risk management and governance activities. In this webinar, the speaker Lynn Fountain explores the intent of the Standards and recognition of alternatives to promoting the value-oriented activities internal audit can provide to an organization.

Despite these, internal auditors still need the relevant framework to properly execute the engagements.  This webinar identifies critical understanding that helps internal auditors in various aspects of audit and the framework. Though they are not specific templates and are not expected to be followed rigidly, they certainly help ensure audit engagements are executed consistently and effectively. They also delve deep into performance standards relating to internal audit projects.

This online CPE course on Auditing covers the following Key Topics: 

  • Internal Audit Standards and their meaning to the profession.
  • Ensuring the team has the relevant knowledge and expertise for engagement assignments.
  • Appropriate resourcing and budgeting exist to support the Mission of the function.
  • Establishing the right communication protocols with management and the board.
  • Engagement planning.
  • Performing the engagement.
  • Communicating results.
  • Monitoring progress.
  • Communicating the acceptance of risks.

With a bird’s eye view of the comprehensive aspects of auditing, this webinar provides invaluable guidance to the auditors about the importance of the standards, while other professionals gain crucial insight into the role an internal auditor can play. 

Podcast Credits

Short Video Credits

On Demand Credits

Live Credits

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Additional Information

Credits

6.5

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Advance Your Career with Lynn Fountain's CE/CPE/CPD Webinars
Lynn Fountain , CRMA

Owner, Lynn Fountain Consulting and Training

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Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance.  Lynn has held two Chief Audit Executive (CAE) positions for international companies.   In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees.  The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.

Ms. Fountain is currently engaged in her own consulting and training practice.  She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit.  She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training.  She is the author of three separate technical books.  

  • Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”.
  • Leading the Internal Audit Function
  • Ethics and the Internal Auditor’s Dilemma

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials. 


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

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AB

Antonio Barrera, CIA

The webinar is very complete and the presenter provides great examples.

MB

Michael Basta, CIA

It was a fruitful and a very informative webinar

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