About Course

Day 1: Understanding the Basics of Internal Auditing and Risk Management

Session 1: Introduction to Internal Auditing (Morning)

• Welcome and course overview
• Importance of internal auditing
• Role of internal auditors
• Key principles of internal auditing

Session 2: Risk Management Fundamentals (Morning)

• Introduction to risk management
• Identifying and assessing risks
• Risk appetite and tolerance
• Risk management frameworks

Session 3: Internal Audit Standards and Frameworks (Afternoon)

• Overview of internal audit standards (e.g., COSO, IIA)
• The Three Lines of Defense model
• Integrating risk management into internal auditing
• Case study: Applying risk-based internal auditing principles

Day 2: Implementing Risk-Based Internal Auditing

Session 4: Risk Assessment and Planning (Morning)

• Conducting a risk assessment
• Risk prioritization and ranking
• Developing the audit plan based on risk assessment
• Practical exercises: Risk assessment and audit planning

Session 5: Executing Risk-Based Audits (Afternoon)

• Audit program development
• Fieldwork procedures
• Gathering and analyzing audit evidence
• Case study: Conducting a risk-based internal audit

Day 3: Reporting and Continuous Improvement

Session 6: Reporting and Communication (Morning)

• Reporting audit findings effectively
• Tailoring reports to the audience
• Communicating with management and stakeholders
• Interactive session: Mock presentation of audit findings

Session 7: Continuous Improvement (Afternoon)

• Audit follow-up and tracking
• Feedback and lessons learned
• Continuous improvement in the internal audit process
• Developing an audit department improvement plan

Session 8: Course Review and Q&A (Late Afternoon)

• Recap of key concepts
• Participant questions and discussion
• Course evaluations and feedback