Global Learning for Operational Leaders
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0 sessionsIntroduction
Course overview
An effective internal audit function provides independent, risk-based assurance that helps organizations strengthen governance, manage risks, and improve internal controls. Achieving this requires more than completing audit engagements. Internal audit leaders must establish a clear mandate, align audit priorities with organizational risks, develop capable audit teams, maintain consistent methodologies, and demonstrate the value of their work to senior management and the board.
The Developing, Improving & Monitoring the Internal Audit Function course provides a structured approach to establishing, managing, evaluating, and continuously improving internal audit activities. Participants examine the Global Internal Audit Standards issued by The Institute of Internal Auditors (IIA), risk-based audit planning, audit methodology development, resource management, performance measurement, quality assurance, stakeholder engagement, and the effective use of audit technology.
The programme emphasizes practical approaches to building a credible internal audit function, improving audit quality, monitoring operational effectiveness, and delivering assurance that supports organizational objectives.
Professional Problems This Course Is Designed to Solve
Unclear internal audit mandate and responsibilities: Establishing appropriate authority, independence, accountability, reporting relationships, and governance arrangements for the internal audit function.
Audit plans disconnected from organizational risks: Developing risk-based audit plans that reflect strategic priorities, emerging threats, control weaknesses, and stakeholder expectations.
Inconsistent audit execution and reporting: Standardizing audit methodologies, documentation, supervision, evidence evaluation, reporting, and follow-up procedures.
Limited audit resources and specialist capabilities: Improving workforce planning, competency development, technology utilization, and the allocation of audit resources.
Difficulty measuring internal audit effectiveness: Establishing meaningful performance indicators for audit quality, coverage, efficiency, stakeholder satisfaction, and recommendation implementation.
Weak quality assurance and improvement processes: Implementing a Quality Assurance and Improvement Program (QAIP) that supports ongoing monitoring, periodic self-assessment, and external quality assessment.
Insufficient stakeholder confidence in internal audit: Strengthening communication with the board, audit committee, senior management, and other assurance providers while preserving independence and objectivity.
What you will achieve
Learning objectives
- Evaluate the effectiveness and maturity of an internal audit function
- Understand the requirements of the IIA Global Internal Audit Standards
- Develop an internal audit mandate, charter, strategy, and governance framework
- Establish risk-based audit planning and engagement management processes
- Design consistent audit methodologies, procedures, and documentation requirements
- Improve internal audit resource planning and professional competency development
- Strengthen audit supervision, reporting, and recommendation follow-up
- Develop meaningful internal audit performance indicators and management dashboards
Who should attend
Target audience
- This course is suitable for:
- Chief audit executives and heads of internal audit
- Internal audit directors and managers
- Senior internal auditors and audit supervisors
- Audit committee support professionals
- Governance, risk, and compliance managers
- Internal control and assurance professionals
- Quality assurance professionals within internal audit
Methodology
Learning approach
- The programme combines instructor-led discussions, internal audit maturity assessments, governance case studies, risk-based planning exercises, audit methodology workshops, performance measurement activities, and quality assessment simulations. Participants work with practical templates for internal audit charters, strategic plans, audit manuals, competency frameworks, performance dashboards, and quality improvement plans.
- Exercises are designed around the responsibilities of chief audit executives, internal audit managers, and professionals involved in developing or improving internal audit functions.
Complete course outline
Five focused days of learning and application
The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.
Day 1
Establishing an Effective Internal Audit Function and Governance Framework
- Understanding the purpose, mandate, and organizational responsibilities of the internal audit function under the IIA Global Internal Audit Standards
- Evaluating organizational governance arrangements, board oversight, functional reporting, and internal audit independence
- Developing and maintaining an internal audit charter that defines authority, responsibilities, scope, and access rights
- Coffee break
- Developing and maintaining an internal audit charter that defines authority, responsibilities, scope, and access rights (continued)
- Assessing the current maturity of the internal audit function using organizational needs, stakeholder expectations, and capability criteria
- Establishing an internal audit strategy aligned with organizational objectives, governance requirements, and assurance priorities
- Practical workshop: Assessing internal audit maturity and developing an internal audit governance and strategic development framework
Day 2
Risk-Based Audit Planning and Internal Audit Methodology Development
- Establishing an audit universe covering organizational processes, business units, systems, projects, and significant risk exposures
- Developing risk assessment criteria based on impact, likelihood, control effectiveness, strategic significance, and emerging risks
- Preparing risk-based internal audit plans and adjusting audit priorities to reflect changes in the organization's risk profile
- Coffee break
- Designing consistent audit methodologies covering engagement planning, risk and control assessment, testing, evidence collection, and documentation
- Establishing audit supervision, working-paper review, quality control, and engagement approval procedures
- Practical exercise: Developing a risk-based annual internal audit plan and standardized engagement methodology for a complex organization
Day 3
Managing Internal Audit Resources, Operations and Stakeholder Relationships
- Developing internal audit workforce plans based on audit coverage requirements, available resources, specialist expertise, and organizational complexity
- Establishing competency frameworks, professional development plans, performance expectations, and succession arrangements for audit personnel
- Improving audit scheduling, engagement allocation, time budgeting, supervision, and workload management
- Coffee break
- Improving audit scheduling, engagement allocation, time budgeting, supervision, and workload management (continued)
- Evaluating opportunities to use audit management software, data analytics, continuous auditing, and automation to improve audit efficiency
- Strengthening coordination with risk management, compliance, external audit, and other assurance providers without compromising internal audit independence
- Case study: Restructuring an internal audit department to improve resource utilization, specialist capability, stakeholder communication, and audit delivery
Day 4
Monitoring Internal Audit Performance and Demonstrating Value
- Developing internal audit performance indicators covering plan delivery, risk coverage, engagement timeliness, resource utilization, and audit quality
- Measuring the implementation of audit recommendations, overdue corrective actions, recurring findings, and management accountability
- Evaluating audit reporting effectiveness through clarity of findings, root-cause analysis, practical recommendations, and stakeholder feedback
- Coffee break
- Evaluating audit reporting effectiveness through clarity of findings, root-cause analysis, practical recommendations, and stakeholder feedback (continued)
- Designing internal audit dashboards and management reports for the chief audit executive, senior management, and audit committee
- Assessing stakeholder satisfaction and the contribution of internal audit to governance, risk management, and control improvement
- Practical workshop: Developing an Internal Audit Performance Scorecard with measurable KPIs, reporting arrangements, and improvement priorities
Day 5
Quality Assurance, Internal Audit Evaluation and Continuous Improvement
- Establishing a Quality Assurance and Improvement Program aligned with the IIA Global Internal Audit Standards
- Designing ongoing monitoring activities, engagement quality reviews, periodic self-assessments, and documented improvement procedures
- Understanding external quality assessment requirements, including assessment frequency, assessor independence, and reporting responsibilities
- Coffee break
- Identifying gaps in internal audit practices through quality assessments, stakeholder feedback, performance results, and standards-based reviews
- Developing corrective action plans, monitoring improvement initiatives, and reporting quality assessment results to the board and senior management
- Capstone exercise: Developing and presenting an Internal Audit Function Development and Improvement Roadmap covering governance, strategy, audit methodology, resources, performance measurement, quality assurance, and implementation milestones
FAQ
Frequently asked questions
What does Developing, Improving & Monitoring the Internal Audit Function (AF-016) cover?
This course covers Accounting and Finance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The course schedule and fee are available on request. Contact Aractech for current availability and a quotation.
Who should attend this course?
This course is suitable for:, Chief audit executives and heads of internal audit, Internal audit directors and managers
Is bilingual course delivery available?
Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
The schedule and fee, including any available delivery options, are available on request. Contact Aractech for details.
Where are classroom sessions delivered?
Classroom venues are confirmed in the schedule panel for each published session.
How long is the training programme?
The programme runs for five days, with up to five training hours per day, from 9:00 AM to 2:00 PM. Each programme includes a total of 25 training hours.
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