Auditing Skills: Internal Audit: Standards and Best Practice

Course Overview

While internal audit is usually mandatory in the public sector it is discretionary for most private sector entities.

Whether mandatory or discretionary, the observance of internal auditing standards should contribute to providing an internal audit service that really adds value.'Buy-in' to internal auditing standards requires a combined effort by senior management, the audit committee of the board and, of course, the internal auditors themselves.

Audience

Although the focus of the course is to obtain a keen appreciation of the standards, a key by-product is to provide an opportunity to benchmark your, and your internal audit function's, performance against this 'gold standard'.

The course is primarily designed for internal auditors who need an opportunity to focus on the content and challenges of internal auditing standards, and to measure their performance informally against these guidelines of best internal audit practice.The course will also be useful for those to whom internal audit reports, audit committee members and external auditors.

Course Outline

• The content of the International Professional Practices Framework (IPPF) of The Institute of Internal Auditors
• Recent and planned changes to the standards
• The status of IPPF and its adoption by other bodies
• UK Government and CIPFA's internal auditing standards
• Assessing observance with internal auditing standards
• The main challenges to compliance
• Managing for, and reporting on, compliance
• The benefits of observing the standards

Auditing Skills: Internal Audit: Standards and Best Practice / CM029433