Internal Audit 101: Basics and Principles

Course Field: Auditing
Delivery Method: Live/Internet-Based
Prerequisite: None
Level: Basic
Advance Prepration:No
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  • Seminar Overview

    A One Day Crash Course on the true basics of Internal Auditing

     

    Do you find it difficult to find good training for your new auditors? Do you have a rotational program and constantly need basic audit training for new hires or transfers into the department? Audit 101 is the perfect course to send new auditors to learn the basics of auditing. This course is an overview of the auditing field, key terminology and basic beginner steps on how to audit. New auditors should not start their new jobs without taking this course!

  • Who Should Attend
    Financial, Operational, and Information Technology Auditors with less than two years of audit experience.
  • Objectives
    • Overview and basics of internal auditing
    • The role of an audit staff
    • Basic documentation techniques

    I. Introduction and Background

    a. Definition of Internal Auditing

    b. What do Internal Auditors do?

    II. History of Internal Auditing

    a. Beginnings

    b. Traditional vs. Modern Internal Auditing

    III. Overview of Internal Audit Guidance

    a. Institute of Internal Auditors/International Professional Practices Framework

    b. Code of Ethics

    c. Standards

    d. Practice Advisories

    IV. Internal Audit Planning

    a. IIA Requirements

    b. Long Range Planning

    c. Short Range Planning

    d. Audit Risk Assessment

    V. Internal Audit Process

    a. Audit Assigned to Audit Plan

    b. Preliminary Work

    c. Development of Audit Workprogram

    d. Conducting Fieldwork

    e. Documenting Results and Observations

    VI. Sampling Methodologies and Overview of Application

    a. Non-statistical Sampling

    b. Statistical Sampling

    VII. Internal Audit Wrap-Up

    a. Audit Reporting

    b. Effective Exit Conferences

    c. Audit Follow-Up Basics

    VIII. Flowcharting

    a. Basics

    b. When to Utilize

    c. Storyboarding

    IX. Interview Techniques

    a. Basics

    b. Active Listening

    c. Non-Verbal Active Listening

    d. Neurolinguistic Eye Cues

    X. Future Steps and Hurdles

    a. Discussion of future trends and techniques

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