Internal auditor

Programme

Types of internal audit

• Definition of internal audit
• Types of internal audit activity. Assurance and consulting
• Parties involved in the internal audit process
• Code of ethics of internal auditors
• The place of internal audit in the internal control and corporate governance system
• International professional standards of internal audit.
• Structure, content and brief description. Practical recommendations

Fraud — a threat to business. Fraud schemes

• The business environment and its impact on the possibility of fraud. Definition of fraud
• The personal factor in fraud. Ability, motives, access, catalysts, etc.
• The role of management and internal control services in combating fraud
• Typology of fraud schemes. Financial, accounting, bribery, corruption, conflict of interest, etc.

Internal audit processes

• The full-scale internal audit system. Description and features of the system
  • financial statement audit
  • tax audit
  • compliance audit
  • operational (management) audit
  • special audit
  • investigations
• The internal audit model. Risk-based annual internal audit plan
• The 4 stages of the internal audit process. Regulation and methodological support
• Audit planning
  • risk-based planning of the audit engagement
  • documenting business processes
  • drawing up the audit programme
• Fieldwork. Procedures for collecting, systematising, documenting, analysing and assessing information on the state of the internal audit object
• The concept of materiality in internal audit. Audit evidence and ways of obtaining it
• Audit sampling. Preparing and using working papers
  • form and content
  • principles of preparation
  • storage procedure
• Using the work of «external» auditors

Workshop:

• Case «Reporting audit results»
• Case «Monitoring the implementation of recommendations. Communicating internal audit results to stakeholders and follow-up actions»

Organising, managing and planning the work of the internal audit function

Organisational structure of the internal audit function

Functions and tasks of internal audit units. Specifics of staff selection

Motivating internal auditors

• Total quality management of the internal audit function
  • principles of total quality management
  • activities within continuous quality improvement
  • means and methods of solving management problems

Workshop: Developing technical and economic norms for the labour input of an internal auditor

Methods of measuring and ways of achieving the economic efficiency of the internal audit function

• The «price» of internal audit for the business. Internal audit as a service to the «internal client»
• The «leverage rule» — the optimal ratio of junior to senior staff as the basis of an effective function
• Characteristics of projects in internal audit. The relationship between project types and the structure of the internal audit function
• What «project» skills internal audit staff should have. Supporting senior staff's skills through junior staff

Workshop: Exercise «Applying the 'leverage rule' in the internal audit function»