Ask any organization what keeps its risk management, oversight and governance efforts on track, and internal audit is usually part of the answer. Accountability standards have tightened, institutions have had to build healthier internal-control environments, and the bar for transparency keeps rising, all of which now demands that internal audits be planned, executed and reported on in a disciplined, systematic way.

Arab British Fellowship Training Academy built this course on internal audit basics and strong internal control systems to help participants respond to the wide range of risks facing public and private companies alike.

Who should attend?

• Commerce and administrative-sciences graduates plus finance and accounting department managers building an audit career path.
• Staff already working in internal audit and oversight departments.

What this course leaves you able to do:

• Spot the strengths and weaknesses in how a company is managed, and judge the threats and opportunities it faces.
• Understand the purpose, authority and responsibilities of internal audit work, including the role of the chief internal audit officer.
• Connect internal audit activity to ongoing professional development.
• Make sure assigned tasks get carried out efficiently and that staff stay accountable to them.

Module 1: Getting Ready for an Audit

• Preparing for the audit.
• Audit team members and their roles.
• Identifying requirements and planning for them.

Module 2: Core Audit Concepts and Terminology

• Auditing terminology.
• Types of audits.
• Audit purpose, scope and other inputs.
• Internal audit departments.

Module 3: Administrative and Financial Audit Tracks

• Administrative audit.
• Financial audit.
• Elements of the internal audit report.
• Internal audit features.

Module 4: Desk Audit Techniques and Strategy

• Desk audit and audit strategies.
• Completing the desk audit.
• Building the audit flowchart.
• Comparing individual versus departmental audit methods.

Module 5: Data Collection and Process Analysis

• Building the data collection plan.
• Applying and executing process-auditing techniques.
• Contrasting open-end and closed-end requirements.
• Analysing the results.

Module 6: Reporting and Corrective Action

• Evaluating observations.
• Writing the draft audit report.
• Comparing auditor and auditee responsibilities.
• Writing the final audit report.
• Contrasting remedial, corrective and preventive actions.

Course Dates and Locations: Sessions typically run monthly across our centres in more than thirty countries, with the option to schedule around your own calendar.

Delivery Formats:

• Hands-on practical training.
• One-to-one sessions.
• Mixed-group training.
• In-house training at your organization.

What You Walk Away With: Everyone who completes the course receives an accredited Academy certificate plus a full training kit in the host country, in recognition of finishing the Internal Audit Fundamentals and Practical Skills course.