Modern international standards of Internal Audit Function

Day 1

Defining and Developing the Internal Audit Process and Establishing Roles, Functions, and Responsibilities for the Internal Audit Department

• Defining, developing and implementing an Internal Audit Function

• Defining the distinctions and responsibilities between Internal and External Auditors

• Identifying the Internal Audit Staff Positions

• Developing the Audit Committee Charter for a Board of Directors

• Review of Statements on International Auditing Standards Update and General Auditing Practice Issues

• Identifying Internal Audit Staffing Requirements

Day 2

Examining and Understanding the Differences between Various Types of Audits, including Risk Factors

• Operational Audits

• Financial Audits

• Compliance Audits

• Fraud and Forensic Audits

• Information Systems Audits

• Review of Current Year U.S. Audit Risk Alerts

Day 3

Selecting, Procedural Planning and Commencing Internal Audit Examinations

• Developing Streamlined Processes for Conducting Internal Audit Examinations

• Identifying Effective Audit Programs for the Various Types of Audits

• Evaluating and Selecting Internal Audit Methodologies

• Notifying the Internal Auditee and Supervisors of the Internal Audit Examination and Promoting Cooperation and Assistance in Achieving Common Goals

• Evaluating Internal Controls Systems and Accessing Network and Computer Files and Folders

• Effecting Changes to an In-Process Internal Audit Examination

Day 4

Managing and Monitoring Internal Audit Examinations and Methodologies of Ensuring Credibility for the Internal Audit Team

• Planning the Audit Commencement Conference Meeting

• Accumulating Relevant Documentation during the Internal Audit Process

• Professional Standards and Responsibilities Associated with Internal Auditing Documentation

• Tools and Methods for Ensuring a Smooth Audit Process

• Techniques for Ensuring Credibility for the Internal Audit Team

Day 5

Issuing Reports of Audit Findings, Conducting Exit Conferences and Implementing Sound Corporate Governance Policies to Achieve Effective Internal Controls

• Communicating Audit Findings and Suggestions for Areas of Improvement

• Planning the Audit Exit Conference Meeting

• Distributing the Final Internal Audit Report within the Organization

• Conducting Post-Audit Reviews

• Internal Controls Updates for Boards of Directors

• Audit Risk Developments and Projects on the Near Term Horizon