Unit 1 : Internal Auditing and the International Business Environment:

• Define internal auditing.
• Identify the components of a practical internal audit function.
• Define the management responsibilities of an internal audit function.
• Discuss the similarities and differences between internal auditing and external auditing.
• Define the various types of internal audits.

Unit 2 : The Road Map to Effective Internal Audits:

• Discuss the principles of effective audits.
• Define alpha and beta audit risk.
• Perform compliance, substantive, and operational tests.
• Calculate audit risk.
• Define the relationship between the internal and control environment and audit testing.

Unit 3 : Focusing the Investment in Internal Audit:

• Relate the concept of internal audit strategies to the audit planning process.
• Develop a long-term audit plan for the internal audit department using internal control-based risk assessment.
• Designed the audit plan and Prepared an audit planning memorandum for an individual internal audit project assignment.

Unit 4 : Documenting and Evaluating Internal Control Systems:

• Understand the work process.
• Document the work process.
• Develop process flow diagrams and process maps.
• Complete the audit internal controls documentation matrix.
• Finalize the audit objectives.

Unit 5 : Audit Evidence and Audit Sampling:

• Discuss the basic concepts of audit evidence and their impact on developing audit work papers.
• Document analytical reviews.
• Test and gather audit evidence.
• Complete and document compliance and substantive tests.
• Select the appropriate testing method.
• Discuss statistical sampling techniques.
• Determine the objectives of the sampling plan.
• Develop the sampling plan.
• Apply attribute sampling techniques.
• Extrapolate the sample results.
• Ensure that audit work papers support audit conclusions and recommendations.

Unit 6 : Planning and Conducting Successful Audit Interviews:

• Plan interviews.
• Discuss a framework for planning, conducting, and evaluating the results of interviews.
• Overcome resistance.
• Manage conflict with management.
• Listen effectively.
• Talk effectively in a non-threatening environment.
• Get to yes.
• Understand the nature of confidentiality of information.

Unit 7 : Managing and Monitoring Internal Audit Examinations and Methodologies of Ensuring Credibility for the Internal Audit Team:

• Planning the audit commencement conference meeting.
• Accumulating relevant documentation during the internal audit process.
• Professional standards and responsibilities associated with internal auditing documentation.
• Tools and methods for ensuring a smooth audit process.
• Techniques for ensuring credibility for the internal audit team.

Unit 8 : Issuing Reports of Audit Findings:

• Conducting exit conferences.
• Implementing sound corporate governance policies to achieve adequate internal controls.
• Communicating audit findings and suggestions for areas of improvement.
• Planning the audit exit conference meeting.
• Distributing the final internal audit report within the organization.
• Conducting post-audit reviews.
• Internal controls updates for boards of directors.
• Audit risk developments and projects on the near-term horizon.