Foundations for a Strong Internal Audit Department (Completed)

The Institute of Internal Auditors (IIA) has done a tremendous job raising the profile of the internal auditing profession. Internal auditors strive to abide by the standards and guidelines promulgated by the profession within the International Professional Practice Framework (IPPF). But have you ever asked management within your company if they knew such standards existed? Do they truly understand the concepts of risk-based auditing, independence, and obligations to the board or charter requirements? It is surprising how so many of these basic concepts are taken for granted by auditors and that we assume management is aware.

Individuals considering an internal audit management role should understand the challenges as well as benefits that may be presented within an internal audit role. It is critical that certain elements of the job be well understood by those holding the positions.

This session is designed to step into the reality of the internal audit management role, and discuss some of the concepts that aren’t always openly discussed within organizations--but are important concepts the internal audit manager should ensure they can clarify with management and be prepared to address on the job.

Who Should Attend
Internal auditors, Professionals considering the role of internal audit, Chief Audit Executives, Accountants and Finance professionals, CFOs, CEOs, Legal and Compliance professionals, Board members and Audit Committee members.

Topics Covered

• Insight on the realities of internal audit management roles
• Elements needed to build a strong internal audit department to provide the most value for your company

Learning Objectives

• Identify critical components of upholding your internal audit charter
• Recognize how to best articulate the definition and requirements of risk based auditing
• Identify requirements to developing an independent audit plan
• Describe how to deal with management when they respond negatively to an issue

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None