A Highly Interactive Training Course On

Developing, Improving & Monitoring the Internal Audit Function

Optimising the Internal Audit Function and Integrating with the Organisation's Strategic Objectives

Developing, Improving & Monitoring the Internal Audit Function
Course Schedule

CLASSROOM

17-21 Feb 2025
Dubai
$5,950
16-20 Jun 2025
London
$5,950
17-21 Nov 2025
Dubai
$5,950
Certificate
  • Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course

Training Overview

Training Overview

Internal auditing is a critical function for leading international companies. An effective internal audit system not only verifies that accounting and financial policies are functioning properly but also ensures that processes and procedures are efficient and effective. This practice is vital for enhancing performance and profitability, safeguarding both the organization and its employees.

In an era where the risk of fraud is increasing, organizations must implement robust internal controls. This Coventry Academy training course equips delegates with the skills to develop or improve their existing audit functions. Participants will learn how to monitor policies, procedures, financial transactions, and assets according to international standards, thereby securing the financial success, stability, and growth of world-class organizations. Join us to enhance your internal auditing capabilities!

What are the goals?

By attending this Coventry Academy training course you should achieve these goals:

  • Understand the Role and Function of an Internal Audit Department
  • Evaluate the Effectiveness of the Existing Internal Audit Function
  • Recommend Improvements to the Existing Audit Function
  • Monitor the Effectiveness of Policies, Procedures and Financial Transactions to International Standards
  • Understand Audit Risk and Efficiently Plan, Control and Record an Audit Assignment
  • Conduct Post-Audit Reviews and Compile Internal Control Updates for Boards of Directors

Who is this Training Course for?

This Coventry Academy training course is designed for a wide range of professionals involved in the budget process, including, but not limited to:

  • Senior and Middle Management that Communicate with the Internal Audit Department
  • Audit Management and Staff Who Wish to Develop Their Audit Skills
  • Financial and Non-financial Professionals Who May be Appointed to Support or Interface With an Internal Audit Committee
  • Non-Financial Professionals Whose Role is Subject to Audit
  • Team Managers and Supervisors

The Course Content

Day One: Internal & External Auditing and the Role & International Standards of the Internal Audit Department
  • Defining the Distinctions and Responsibilities between Internal and External Auditors
  • Identifying the Internal Audit Staff Positions
  • Identifying Internal Audit Staffing Requirements
  • Techniques for Ensuring Credibility for the Internal Audit Team
  • Developing the Audit Committee Charter for a Board of Directors
  • Review of Statements on International Auditing Standards Update and General Auditing Practice Issues
Day Two: Examining & Understanding the Differences between Various Types of Audits, including Risk Factors
  • Fraud and Forensic Audits
  • Compliance Audits
  • Operational Audits
  • Information Systems Audits
  • Financial Audits
  • Risk Factors & Audit Risk Alerts
Day Three: The Audit Process, Programs and Planning & Commencing Internal Audit Examinations
  • Developing Streamlined Processes for Conducting Internal Audit Examinations
  • Identifying Effective Audit Programs for the Various Types of Audits
  • Risk-Based IT Audit Procedures
  • Key Considerations for your Internal Audit Plan
  • 20 Questions Directors Should Ask about Internal Auditing
  • The Audit Commencement Conference Meeting
Day Four: Fieldwork: Internal Audit Examinations, Controls & Documentation
  • Evaluating Internal Controls & Substantive Procedures
  • A Detailed Examination of the Budget Process & Budgetary Controls
  • Planning & Conducting Audit Interviews
  • Accumulating Relevant Documentation during the Internal Audit Process
  • Professional Standards and Responsibilities Associated with Internal Auditing Documentation
  • Sampling & Statistical Analysis to ensure a Representative Sample
Day Five: The Audit Exit Conference, Findings and Post Audit Review
  • The Internal Audit Draft & Final Report: - Findings and Suggestions for Areas of Improvement
  • Planning the Audit Exit Conference Meeting
  • Distributing the Final Internal Audit Report within the Organization
  • Client Survey
  • Conducting Post-Audit Reviews/Follow Up Audit
  • Improving Corporate Governance