Internal Audit Standards - Executing the Audit Engagement (Completed)

There are critical concepts that internal auditors should be aware of in relation to the Institute of Internal Auditors (IIA) Attribute Standards and the elements of the Performance Standards. The performance standards relate to managing the internal audit function and the nature of work for internal audit. The performance standards also provide internal auditors with a relevant framework to properly execute engagements. It is critical internal auditors have an understanding of the various aspects of the audit and the framework outlined by the IIA.

Who Should Attend
Internal auditors, management, CEO, CFO, CAE, external auditors, board members

Topics Covered

• Although the Standards do provide specific templates on the elements that should be evaluated in each stage of the audit, they provide critical guidance on requirements internal auditors should consider during the various phases. Understanding and following this guidance will ensure audit engagements are executed consistently and effectively. This segment is designed to delve deeper into the Performance Standards as they relate to conducting internal audit projects. This includes:
• Engagement Planning
• Performing the Engagement
• Communicating Results
• Monitoring Progress
• Communicating the Acceptance of risks

Learning Objectives

• Explore elements of planning the audit engagement
• Identify methods for appropriately executing the audit engagement
• Identify methods of communicating results to management and the board
• Discover the requirements for monitoring audit issues
• Recognize methods for communicating the acceptance of risk

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None