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Internal Audit Fundamentals Part 2: Controls, Governance

This course is the second part of a modular three-day programme. We recommend attending all three days, but each day is self-contained and can be taken separately.

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Learning Objectives

The second part of the programme focuses on the crucial assurance aspects of the work that internal auditors carry out. Boards and senior managers require assurance that their systems, controls and procedures are both designed efficiently and are working effectively – they look to their internal auditors to provide this assurance. The course addresses both the theory and the practice of internal controls.  The governance dimension is also examined and delegates will learn how auditors can add value to their organisation’s governance by carrying out work in the areas of fraud prevention and detection and culture and business ethics. The course is highly inter-active throughout, combining practical tips and advice with quizzes and audit scenario exercises.

Course Content

  • The assurance essentials: governance, internal controls, fraud and ethics
  • Corporate governance frameworks, and the role of internal auditors within those frameworks (including review of the UK Corporate Governance Code and other governance models)
  • Headline scandals reviewed and discussed
  • The internal controls framework – control concepts, purpose and types
  • Models of internal control, in particular the COSO Integrated Controls Framework
  • How auditors evaluate and test internal controls
  • Corporate culture and employee engagement
  • The fraud audit – responsibilities, behavioural red flags, understanding the key anti-fraud preventative controls
  • Using computer-assisted audit techniques for fraud detection
  • Culture, tone and business ethics – how internal auditors can help to encourage an ethical environment that brings your organisation’s values to life

WHO SHOULD ATTEND

The course is primarily aimed at people starting out as internal auditors. Equally, the course will also benefit experienced auditors requiring either an insight into audit theory and effective audit methodologies or else a refresher and update. The course is applicable to all business sectors.

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Online Courses

You may prefer an online course if you are looking for a flexible and cost-effective solution. Online courses allow you to study at your own pace, at a time that suits you.

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