With the evolving challenges organizations face globally due to shifts in environmental, operational, legal, and financial landscapes, there has been a heightened emphasis on the internal audit's role in promoting good governance, ensuring effective management, and validating the quality of activities within the organization. This Internal Audit Quality Assurance training course will empower internal auditors to enhance the organization's credibility and meet business requirements, while providing assurance to key stakeholders. Internal auditors will learn how to evaluate conformance with the International Standards for the Professional Practice of Internal Auditing, ensuring that their services offer value to the board of directors, senior management, and other stakeholders.
This Energy training course is designed to guide you in assessing the efficiency and effectiveness of the internal audit activity and to identify areas for improvement in alignment with the International Standards. By implementing a Quality Assurance and Improvement Program, participants will be able to elevate their internal audit practices.
Key features of this Internal Audit Quality Assurance training course include:
- Understanding the international standards that form the basis of the International Professional Practices Framework.
- Building an effective Quality Assurance and Improvement Program.
- Best practices for internal audit’s role in consulting.
- The requirement for external assessments of internal audit activities.
- Knowledge and skills development to drive tangible benefits for your organization.
This Internal Audit Quality Assurance training course focuses on the key elements of internal audit quality assurance, equipping auditors with the essential knowledge and skills needed to enhance the internal audit function.
Upon completion of this Internal Audit Quality Assurance training course, participants will be able to:
- Offer a comprehensive overview of the standards that emphasize the importance of quality assurance.
- Learn how to establish an effective Quality Assurance and Improvement Program.
- Strengthen the application of "Conformance with International Standards for the Professional Practice of Internal Auditing."
- Provide practical guidance on using manual programs for conducting self-assessments with independent external validation.
- Assess the effectiveness and efficiency of the internal audit function.
- Identify and apply facilitation skills while addressing issues within their specific environment.
This Internal Audit Quality Assurance training course will utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. The training methodology includes case studies, group discussion, group work and interactive exercises and videos, pre & post course assessments will also be given to enhance learning outcomes for participants and to measure the effectiveness of this training. The instructor will also facilitate learning by encouraging the delegates to test and critically appraise any theories and concepts on the training course.
This Internal Audit Quality Assurance training course is suitable to a wide range of professionals but will greatly benefit:
- Auditors / Auditing Managers
- Accounting Executives / Managers
- Financial Reporting Managers
- Financial Executives / Managers / Controllers
- Budgeting Officers / Executives / Managers
- Business / Investment Analysts & Managers
- Regulatory Compliance Officers
Day One: Internal Audit, Quality & Performance
- Concept of Internal Audit
- Types of internal audit function
- The Principles of Conduct of the Code of Ethics
- The International Standards for the Professional Practice of Internal Auditing (Standards)
- Meaning of Quality and performance
- Measuring performance
Day Two: Quality Assurance & Improvement Program
- The framework for quality assurance
- Requirements of the Quality Assurance and Improvement Program
- Evaluation of the conformance with relevant policies, procedures, and standards
- The application of the Code of Ethics
- Assess the efficiency and effectiveness of the internal audit activity
- Identifies opportunities for improvement
Day Three: Internal Assessments
- Ongoing monitoring of performance of the internal audit activity and staff.
- Periodic self-assessment and review
- Assess internal audit activity’s charter
- Evaluate the applicable legislative and regulatory requirements
- Establish benchmark of the internal audit activities
- Establish metrics to indicate improvement in organization
Day Four: External Assessments
- Importance of external assessment
- Form of external assessment
- Frequency of external assessment
- Internal audit and audit committee function
- Assessment of conflict of interest
- Following up the results & recommendation of external assessments
Day Five: Using the Quality Assessment Manual to Conduct Self-Assessment
- The effectiveness of using the resources
- The best successful practices
- The organization’s risk management
- Reporting on the Quality Assurance and Improvement Program
- Disclosure of non-conformance
- Compliance with the regulatory requirements
- Case studies in each day activity