Course introduction

The CIA designation is the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their competency and professionalism in the internal auditing field. It has opened up countless doors of opportunity for practitioners around the world as it communicates their ability to serve as a key player in their organization's success.

Objectives

Part-II (Internal Audit Practices)
This Part covers knowledge of basic financial decision-making techniques and in-depth knowledge of these tools. After getting this knowledge, you will be able to take part in Financial Decision Making in your organization. The concepts will help to understand how to analyze the financial data and financial statements of the organization, which helps in improving the overall efficiency of the organization.

Outline

Day 1

managing the internal audit function

• Strategic Roles of Internal Audit

• Operational Roles of Internal Audit

• Establish Risk Based Internal Audit Plan

• Internal audit resources requirements

• Practical cases

Day 2

managing individual engagement

• Plan the Engagements

• Supervise the Engagements

• Communicate Results

• Monitor Outcomes

• Practical cases

Day 3,4 and 5

 fraud risks and control

• Consider the potential of fraud risks

• Determine if fraud risks require special considerations 

• Determine if any suspected fraud merits investigation

• Complete a process review

• Employ audit tests to detect fraud

• Support a culture of fraud awareness and encourage the reporting of improprieties

• Interrogation and investigation techniques

• Forensic auditing

• Practical cases