Applying the Standards for Internal Auditors Part 2

🧐 Mastering the Standards for Internal Auditors - Part 2

Course Overview: This course is a deep dive into the practical aspects of managing an internal audit function and understanding the nature of work as per the IIA's Standards. It builds upon the foundational knowledge imparted in Part One, focusing on the Performance Standards that underpin the effectiveness and consistency of internal auditing.

Course Content:

• The Framework of Internal Audit:

  • Understanding the Basics: The IIA's Standards, Mandatory Guidelines, Core Principles, Code of Ethics, and Attribute Standards lay the groundwork for internal auditors. These guidelines are essential for anyone involved in internal audit to ensure a robust, effective, and consistent approach to governance, risk management, and control.

• Managing the Internal Audit Function:

  • Resource Management: Ensuring your team has the necessary knowledge and expertise is crucial. This involves appropriately resourcing and budgeting to fulfill the function's mission.
  • Communication Protocols: Establishing effective communication with management and the board ensures alignment and understanding of the audit process.

• Nature of Work within Internal Audit:

  • The IIA Standards highlight three key areas where internal auditors should be active:
    1. Controls: Evaluating and assessing the effectiveness and efficiency of existing controls.
    2. Risk Management: Understanding how internal audit can contribute to an organization's risk management strategy.
    3. Governance: Ensuring adherence to policies, procedures, and regulations that govern organizational operations.

• Challenges in Internal Audit:

  • Many organizations struggle with the broader implications of internal audit's role in risk management and governance. This course will help you navigate these challenges and enhance the value of your internal audit function.

Key Takeaways:

• A comprehensive understanding of the IIA Standards and their application.
• Strategies for managing an effective internal audit function.
• Insights into the nature of work within internal audit, including controls, risk management, and governance.
• Approaches to overcome common challenges faced by internal auditors.

Why Take This Course? This course is designed to help you apply the Standards for Internal Auditors in a way that aligns with your organization's needs. By completing this course, you will gain valuable insights that can be directly applied to enhance your organization's internal audit processes and promote a value-oriented approach to internal auditing.

🎓 Earn Continuing Education Credits: To receive Continuing Education Credit (CPE, CE, CPD, etc.), take this course on the Illumeo platform under the title: "Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part Two: Managing Internal Audit and Nature of Work"

Illumeo is an approved-by-the-governing-body CPE platform for over two dozen professional certifications, including those in finance, accounting, treasury, internal audit, HR, and more.

📆 Enroll Today on Illumeo Dot Com! Join us at Illumeo to elevate your understanding of internal auditing standards and practices with this comprehensive course. Don't miss the opportunity to enhance your professional skills and contribute significantly to your organization's governance, risk management, and control framework. 🚀