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Optimizing Internal Audit 3 Credits

Optimizing Internal Audit 3 Credits

  • Rating

    4.4
  • Reviewed on

    February, 2024
  • Subject Area

    Auditing

Learning mode

  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • To explore critical components of upholding your internal audit charter.
  • To evaluate the definition and requirements of risk-based auditing.
  • To determine the meaning of developing an independent audit plan.
  • To explore the role of today's internal audit leadership.
  • To recognize the role of internal audit in corporate governance.
  • To explore how to synergize the internal audit processes with other quality assurance groups.
  • To discover the keys to building effective relationships with management and the audit committee.
  • To discover the keys to staffing and training the audit group.
  • To identify how to develop a resource gap analysis for internal audit.
  • To describe the challenges faced by internal audit organizations
  • To describe a vision for the next generation of internal audit
  • To outline the skills required for the next-generation internal auditor

Course Overview

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.


Many organizations are feeling the increased weight of responsibility for assessing and managing enterprise risks. Evolving compliance and governance challenges are forcing organizations to ensure that their internal audit functions are operating effectively and efficiently. Internal auditors must make certain that risk management, internal controls and governance processes are accomplishing business objectives and meeting stakeholder expectations. If you're going to improve the value and effectiveness of your internal audit function, you need a comprehensive understanding of the specific objectives, risks, and priorities relevant to your organization.


Before you can increase the effectiveness of your internal audit function you need to highlight the following Issues that you may be facing:


  • Whether your internal audit function follows outdated routines and practices.
  • Whether your internal audit function is slow to respond to changes in your business.
  • Whether the current structure of your internal audit function is not appropriate to meet your requirements.
  • Whether your internal audit function is under capacity.
  • Whether you have a weak internal control environment.
  • Whether there is little or no reliance placed on internal audit findings and initiatives.
  • Whether your internal audit function is not seen as independent and objective.
  • Whether there is a low use of technology within internal audit.
  • Whether your internal audit function needs to be benchmarked

This CPE course is designed to provide the required understanding and insight into understanding, designing, managing and monitoring internal audits. Internal audits are critical to all aspects of financial, operational and compliance processes. For businesses to succeed in today’s global economy, professionals must be able to distinguish quickly between everyday tasks and internal audit requirements. This continuing education course takes a comprehensive and in-depth look at critical principles and real-world scenarios involved in the management of your internal audit processes and procedures.

This CPE webinar explores the key competencies and responsibilities of today's internal audit management and methods for meeting the requirements of the internal audit profession. In this CPE webinar we will also discuss some of the greatest challenges of the role and how to address those challenges.

A forward-looking audit function should provide insight, oversight and foresight around an organization's current and future risks and controls, especially in today’s fast-paced, “innovate or die” business environment. Data and technology-enabled business transformation is occurring at a pace we have not previously seen. Internal audit must respond to stay relevant, not just in its risk-assurance role, but in the way it organizes itself, manages resources, delivers its services, and makes use of data and technology.

 

In this online CPE webinar, you will learn to optimize the entire internal audit function and the major topics that are highlighted in this CPE webinar:

  • How to optimize teams and client relationships
  • How to optimize processes
  • How to optimize audit plan
  • How to optimize audit tools and templates

Click here to access more CPE courses on Accounting and Auditing.


  • 3 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 3 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 3 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 3 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 3 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 3 CPE Credit of Internal Audit function for Certification in Risk Management Assurance (CRMA)
  • 3 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 3 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
  • 3 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 3 CPE Credit for Certified Internal Controls Auditor (CICA)
  • 3 CPE Credit of Auditing for Iowa Licensed Public Accountant (IA-LPA)
  • 3 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
  • 3 CPE Credit for Certified Controls Specialist (CCS)
  • 3 CPE Credit of Auditing for Maine Licensed Public Accountant (ME-LPA)
  • 3 CPE Credit of Auditing for Delaware Licensed Public Accountant (DE-LPA)

Additional Information

Credits

3

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

Linh Truong is currently an executive advisor and professional speaker focusing on topics including governance, corporate culture and auditing best practices. Linh was formerly the Chief Audit Executive (CAE) at Orthofix Medical, a global medical device company focused on improving patients' lives by providing superior reconstructive and regenerative orthopedic and spine solutions to physicians worldwide. Linh has 30 years of audit / consulting experience including being the former CAE of Kosmos Energy and Alon USA where she built the respective audit functions from ground zero, including developing all templates for risk assessments, audit programs, audit reports, and Board Audit Committee presentations.  

She has also worked at Hunt Oil, ACS (now Xerox), Credit Suisse Group, and KPMG. Her audit career has provided her the opportunity to live and work in Germany and Switzerland for four years as well as travel throughout the United States, Canada, Europe, parts of Africa and Yemen. She has spearheaded Fraud Risk Assessments and Enterprise Risk Management (ERM) initiatives at multiple companies. She has implemented first year SOX at three companies and have streamlined SOX compliance efforts, saving millions of dollars. She has been a speaker at many IIA training events, including the IIA GAM’s Conference in 2019 and the International Conference in 2020, as well as for ISACA and MISTI.


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.

Ratings and Review

4.4

Excellent

Very Good

Average

Poor

Terrible

CC

Carolyn Clink, CIA

Linh Truong presented the information with a confident and friendly advising attitude. The information shared will improve my audit skills.

DF

David Fix, CPA (US)

Overall good background of internal audit from an experienced auditor

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    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 - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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