To become a successful auditor, a strong base of knowledge and an understanding of basic auditing skills are essential. With this program, auditors, as well as non-auditors with internal control responsibilities, will learn the ins and outs of an audit from beginning to the end.

This is the online version of the course and is tailored as a one-in-one encounter between the learner(s) and the instructor which will enrich their knowledge and will properly prepare them to conduct successful audits. A basic understanding of the roles of risks and internal controls in auditing is also stressed, along with interpersonal and team-building skills. Upon successful completion of this online course, candidates will be presented for the Certified Professional Internal Auditors, CPIA designation, awarded by the Institute of Certified Forensic Accountants, USA and Canada

The price shown on this website includes your training materials, tests and certification. No further payment is required

Learning Objectives

At the end of this course, you will be able to:

• Perform internal audit tasks  and carry out value-added audit engagements
• Engage in a risk-based audit approach, from planning through process documentation to testing, analysis, and reporting
• Demonstrate the application of Professional Practices Framework
• Show the concepts and terms that are central to internal auditing.
• View your own organization from an internal auditing perspective.
• Communicate and sell internal auditing results
• Show-case yourself as a Certified Professional Internal Auditor (CPIA)

Course Contents

LESSON 1 Introduction To Internal Auditing and Defining internal auditing

• Defining Internal Audit
• Internal Audit roles and objectives
• Internal Auditing Today
• Standards and Guidance

Engagements for Internal Audit

• Internal audit charter and audit universe
• Scope of internal auditing
• Audit Planning
• Identify the requirements of annual audit planning.
• Identify the components of an audit project plan.
• Interviewing
• Identify the components of interviews
• Process & Policy Review
• Auditing of Policy/Best Practice Compliances
• MIS Review

Financial Audit Engagements

• Auditing of Business Operation
• Auditing of Store Operation
• Auditing of Statutory & Tax Compliances
• Auditing of Finance & Accounts Compliances
• Auditing of Petty Cash Expenses
• Transaction Verification & Validation
• Process Verification & Validation of Purchases
• Pending GRN Report
• Pending Bill Report
• Open PO Report
• Vendor Management Auditing
• Process Verification & Validation of Payment
• Process Verification & Validation of Receipts
• Process Verification & Validation of JV
• Revenue Auditing
• Reimbursement verification/Advance/Travel Policy/Entertainment
• Conveyance/Mobile/Petty Cash Policy Compliance

LESSON 2 Analytical Procedures, Risk, Control and Governance

• Definition of analytical procedures

• Purpose of analytical procedures
• Substantive analytical procedures
• Factors affecting precision analytical procedures

Risk, Control and Governance

• Defining risks
• Internal control
• Corporate control and strategies
• Corporate governance
• Control and Risk Self-Assessment
• Control objectives,
• Types of control
• Evaluation tools and techniques

Risk Management

• Risk Assessment
• Identifying the components of risk assessment and risk management as they relate to internal auditing
• Identify the components of the COSO Internal Control Framework
• ERM and RBIA
• Role of Internal Audit in Risk Management.

LESSON 3 Understanding Security and Privacy

• What is Privacy?
• Privacy framework and principles
• Auditing privacy risk
• Privacy protection
• Privacy control
• Threats to individuals and stakeholders

IT Engagements

• IT audit areas
• IT risks and control
• Internal audit use of IT

Computerized Tools

• Identify emerging tools that automate the audit process (Computerized Tools)
• Testing
• Identify the methods for obtaining and presenting audit evidence.

LESSON 4 Statistical Sampling

• Testing framework
• Compliance and substantive tests
• Working paper strategy
• Working paper exercises

Generating Data

• The need for data
• Quality of data
• Data security and processing of sensitive data
• Data and the Independence of the Internal Auditor

Analytical Procedures

• Selling of the Results
• Identify the best practices for selling audit results to stakeholders.
• Teamwork:
• Identify the components required to function successfully on an audit team.

Audit and Assurance

• Audit framework and regulation
• Legal and other professional regulations, ethics and current issues
• Accepting and managing engagements
• Planning and risk assessment
• Internal control
• Audit evidence
• Review and reporting

LESSON 5: Fraud Awareness

• What is fraud?
• Psychology of fraud
• Red flags of various fraud schemes
• Role of Internal Audit in fraud prevention and control
• Fraud Policy

Internal Consulting

• Nature of internal audit consultancy services/roles
• Planning for delivery of consultancy services
• Internal transformation and change initiatives
• Professional conduct, consultancy assignments and issues of independence/objectivity

Monitoring and Engagements

• The role of continuous auditing in relation to continuous monitoring.
• Ongoing control assessment, ongoing risk assessment, continuous monitoring, and assurance.
• The Difference Between Auditing and Monitoring
• Reporting: