Internal Audit Training, IT Audit Training Courses, Information Security Training - CPE Interactive

Continuing Professional Education for Audit, Assurance, & Info Security

Course Description

The International Standards for the Professional Practice of Internal Auditing requires every internal audit department or activity to have either an external quality assessment review (QAR) or a Self-Assessment review with an external validation by an independent reviewer at least once every five years. The course will explain how to conduct a self-assessment as outlined by the IIA Standards.

This two-day seminar will cover what is mandatory and what is recommended with in the International Professional Practices Framework (IPPF) and provide attendees with what they need to know to prepare for and to undergo an external quality assessment review.
The course also examines the International Professional Practices Framework, including the International Standards for the Professional Practice of Internal Auditing and the requirements that are mandated in order to be in compliance with the IIA Standards. You will explore best practices in internal auditing and state-of-the-art assessment techniques and practices for conducting a QAR. You will work through a case study developed from dozens of actual QARs that will highlight how the process works and how to apply the IIA Standards when conducting a review. 

If you are a Chief Audit Executive of a small internal audit department who may not have the resources for a full external review, this seminar will cover how you can conduct your own self-assessment review and obtain an independent validation of that review .

Learning Objectives

  • Gain an understanding of how a QAR can benefit the internal audit activity
  • Learn about the various review methodologies that are available
  • Identify and discuss the important decisions that arise when preparing an internal audit department for a review

Course Outline

Peer Review Requirements under the IIA Standards ​

  • external reviews
  • self-assessments with independent validation reviews

What Is a Peer/Quality Assessment Review?​

  • objectives
  • scope
  • approach

Review Methodologies for Internal Audit

  • The IIA Methodology
  • Other alternative methodologies

The IIA Professional Practices Framework​

  • What’s Mandatory and what’s Recommended
  • Definition of internal auditing
  • Code of ethics
  • Attribute Standards
  • Performance Standards
  • Implementation Guidance

Preparing for the Assessment

  • customer surveys
  • Interviews
  • Preliminary planning
  • Selecting the right team

Conducting Fieldwork​

  • assessing organizational governance
  • selecting the right workpapers to review
  • managing the review methodology
  • interviewing the key players
  • developing the opinion

Reporting the Opinion​

  • the closing conference
  • communicating the results
  • report formats 
  • who responds to the comments?
  • the final report

A Survival Checklist for Chief Audit Executives​

  • choosing a methodology
  • selecting the right team leader
  • selecting the review team
  • doing your homework
  • how to get the most out a QAR

Best Practices in Value-Added Internal Auditing​

  • where should IA report
  • IA’s role in Sarbanes-Oxley
  • structure of the department
  • managing audit engagements
  • communicating with your customers

Hands-On Case Study ​

  • working the methodology
  • interpreting the Standards
  • arriving at an opinion

Additional Information

Who Should Attend
  • Chief Audit Executives
  • Audit Directors and Managers
  • Internal Audit Staff
Learning Level

Basic

Delivery

Group Live

Field

Auditing

Advanced Preparation

None

Recommended Prerequisites

Auditors with at least 2 years’ experience in order to draw upon their professional audit experience

Session Duration

On Site: 2 Days

CPE Credits: 16

Questions? Contact us

Phone: +1 (781) 784-4390
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