Event Description

A highly effective internal audit group’s value to an organization is directly related to its independence and competence in fulfilling its charter. To function optimally, an internal audit group needs unrestricted access to the subject matter it is reviewing, a clear reporting path to an independent overseer, and must possess the essential skills and capabilities required of this ever demanding and evolving profession.In this course, we’ll review the optimal structure(s) of high performance internal audit departments, including the major roles and responsibilities of the group and its key members, as well as, its critical reporting authority within an organization. The course will also address how an internal audit group’s charter, other governing documents, and practices, define the nature of its value adding services, and establish a sound administrative framework to support its ongoing functional activities and growth, including but not limited to, all level personnel training and development.

Designed For

Members of internal audit and other assurance groups of all staff levels

Objectives

Understand the concepts of independence and objectivity and their practical application from both an internal audit organizational and individual level(s)Identify organizational reporting structures that support internal audit independenceEmphasize the range of value-added services that a high impact internal audit group providesRecall key internal audit group roles and responsibilitiesIdentify key elements of effective internal audit group governance and documentation

Major Subjects

Independence / objectivity and the internal audit functionInternal audit organizational reporting structure(s)Major roles and responsibilities of the internal audit activity and its members Effective oversight of the internal audit groupClarity and alignment of internal audit organizational governance/ documentation and messaging (including its charter, reporting lines/ structure, and policies/ procedures) Required knowledge, skills, and competencies of a high-quality internal audit groupOrientation and ongoing training / development needs of internal auditors (at all levels)

Prerequisites

Experience in accounting and attestation

Instructions

None