Elements of Performance Standards for Internal Auditors

Learning Objectives

• To explain the International Professional Practices Framework (IPPF) Standards.
• To discuss the significance of IPPF Standards to management within the context of internal auditing.
• To differentiate between a value-oriented Internal Audit (IA) function and one perceived as a quality assurance entity.
• To empower with the knowledge and skills necessary for effective management of the IA activity, aligning it with professional practices and organizational goals.

Course Description

In the realm of internal auditing, professionals turn to the Institute of Internal Auditors (IIA) Standards for comprehensive guidance on executing their fiduciary responsibilities effectively. 

This CPE Auditing Course delves into two crucial elements of the Performance Standards: managing the internal audit function and the nature of work within internal auditing. Managing internal audit extends beyond overseeing specific projects; it involves the entire audit process, ensuring the team possesses relevant knowledge, adequate resources align with the mission, and effective communication is established with management and the board.

Examining the nature of work within internal audit, the IIA Standards outline three critical areas: Controls, Risk Management, and Governance. While the evaluation of controls is widely understood, there's often a challenge in determining the role of internal audit in risk management and governance activities. This course is part two of the series ‘Applying the Standards for Internal Auditors’, it delves deeper into the challenges faced in managing the internal audit activity and properly identifying the internal audit's nature of work. 

Major Topics covered:

• Managing the IA Activity
  • Planning 
  • Communication 
  • Resource Management 
  • Policies and Coordination 
  • Management and the Board 
  • External Service Providers 
• Nature of Work 
  • Controls
  • Risk Management 
  • Consulting

Join this online CPE webinar and gain an understanding of alternatives to promoting the value-oriented activities that internal audit can provide to an organization. 

Overview

• How do you define effective management

  7 mins
• Elements of managing

  15 mins
• Alternatives effective management

  28 mins
• Standards outline the expectations of planning

  43 mins
• Resource management

  67 mins
• External service providers

  94 mins
• Risk management & control

  117 mins