Foundations for a Strong Internal Audit Department

Learning Objectives

• To explain the foundational elements crucial for success in an Internal Audit (IA) management role, including the challenges and benefits associated with the position.
• To discuss the critical components of upholding an internal audit charter, emphasizing the importance of alignment with industry standards and effective execution.
• To identify independent challenges within IA, and address issues related to organizational independence, reporting, and the establishment of effective reporting lines to ensure transparency and accountability.
• To review the principles of Risk-Based Auditing (RBA) and its significance in the modern audit function.

Course Description

Individuals considering entering an IA (Internal Audit) management role must comprehensively understand the challenges and benefits inherent in the position. The job demands a critical grasp of specific elements, emphasizing the importance of a nuanced understanding by those holding such roles. 

This CPE Auditing Course delves into vital yet often overlooked aspects of the IA management role. It emphasizes the importance of IA managers understanding and addressing these less-discussed concepts to enhance their effectiveness in navigating complexities. The course highlights the elevated profile of the IIA profession and prompts reflection on whether management is well-versed in fundamental IA concepts, underscoring the need for IA managers to bridge knowledge gaps for a more informed and collaborative organizational approach.

Major Topics covered:

• Critical components of upholding your internal audit charter. 
• The difficulties of the concept of Independence. 
• Understanding what management views as Risk Based Auditing. 
• Can internal audit develop the annual audit plan independently? 
• When management says “no” to internal audit?

Join this online CPE Webinar to gain insights into crucial, less-discussed aspects of IA management, enhance your effectiveness, and contribute to an informed and collaborative organizational environment.

Overview

• Internal audit management series

  9 mins
• Internal audit definition challenge

  16 mins
• Independence challeneges

  34 mins
• Authority challenge

  44 mins
• Organization challenges

  61 mins
• Identifying risk

  80 mins
• Working with management

  97 mins