Internal Audit is part of the control system of a company, with the aim of ensuring that all other controls are working correctly. The internal audit department reviews the effectiveness of other controls within a company. In some jurisdictions, it is a statutory requirement to have internal audit. In others, codes of corporate governance strongly suggest that an internal audit department is necessary. This course will expose participants to effective internal audit procedures.
- The meaning of Internal audit and compliance
- Roles of internal audit
- Types of Audit
- Financial, Operational, Project, Value for money, Social & environmental and Management audit.
- Audit of internal controls
- Factors affecting the need for internal audit
- Auditor independence
- Potential threats to auditor independence
- Ethical conflicts of interest
- Standards for internal audit
- The role of the audit committee
- The relationship between the audit committee and external auditors
- Post completion audit review
- Practical case studies
For whom: Directors, Chief financial officers, Accountants, Auditors.