Foundations for a Strong Internal Audit Department

This course covers the realities of internal audit management roles, and how to build a strong foundation.

Ratings 3.98 / 5.00

Foundations for a Strong Internal Audit Department

What You Will Learn!

Identify critical components of upholding your internal audit charter.
Examine the difficulties of the concept of independence and objectivity.
Explore and understand what management views as risk- based auditing.
Discover and discuss the concept of agile auditing.
Explore and evaluate if internal audit can develop the audit plan independently.
Discover and examine what to do when management says “no”.

Description

Part of the continuing series of internal audit best practices, this session will provide insight on the realities of internal audit management roles, and the elements needed to build a strong internal audit department to provide the most value for your company. The world of internal audit has undergone many shifts over the past several years due to the state of the economic and pandemic concerns. However, these impacts must be evaluated in light of concepts outlined in the Internal Audit Standards.

The Institute of Internal Auditors (IIA) has done a tremendous job raising the profile of the auditing profession. As auditors, we strive to abide by the standards and guidelines. 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 to them within this 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.

If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Foundations for a Strong Internal Audit Department. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.