Internal Audit Standards and Reporting (GBMLC27449)

Effective internal audit practices contribute significantly to organizational success and stakeholders’ trust. This comprehensive 5-day training program, delivered by Global Business Minds, equips internal auditors and aspiring professionals with the essential knowledge and skills to apply the International Standards for the Professional Practice of Internal Auditing (ISPPIA) and produce high-quality audit reports.

By the end of this program, you will be confident in navigating the ethical considerations, performance standards, and reporting requirements crucial for conducting impactful internal audits.

• Deepen understanding of the International Standards for the Professional Practice of Internal Auditing (ISPPIA) framework and its core principles

• Develop skills to plan, conduct, and report on internal audits aligned with ISPPIA requirements

• Enhance proficiency in evaluating internal controls and identifying potential risks within organizations

• Equip participants with best practices for crafting clear, concise, and actionable internal audit reports

• Foster professional judgment and ethical decision-making in internal audit engagements

• Defining the role and responsibilities of internal audit within an organization

• Exploring the International Standards for the Professional Practice of Internal Auditing (ISPPIA) framework, including its core principles and attributes

• Understanding the International Professional Practices Framework (IPPF) and its components

• Discussing relevant ethical codes and conduct for internal auditors

• Applying ISPPIA standards to internal audit planning, considering risk assessment, objectives, and scope

• Implementing effective internal audit methodologies and best practices

• Performing risk-based testing procedures, including interviews, data analysis, and walkthroughs

• Evaluating internal controls and identifying control weaknesses and potential risk exposures

• Crafting clear, concise, and actionable internal audit reports aligned with ISPPIA reporting standards

• Structuring reports to effectively communicate findings, observations, and recommendations

• Utilizing data visualizations and storytelling techniques to enhance report clarity and impact

• Practicing effective communication of audit results to management and stakeholders

• Exploring emerging risks and trends in internal audit, such as cybersecurity, data privacy, and environmental sustainability

• Discussing internal audit best practices in specific industries and business sectors

• Performing case studies and applying learned skills to complex internal audit scenarios

• Sharing best practices and lessons learned from industry experts

• Exploring continuous professional development opportunities for internal auditors

• Discussing career advancement pathways within the internal audit profession

• Examining the future of internal audit and evolving best practices due to technology and regulatory changes

• Participating in a Q&A session with internal audit experts and program speakers

This training program is designed for:

• Internal auditors of all experience levels looking to enhance their knowledge and skills

• Audit assistants and aspiring internal audit professionals seeking initial training

• Risk management professionals and control specialists seeking a deeper understanding of internal auditing

• Finance professionals and executives wanting to gain insights into effective internal audit practices

• The training program can be customized to address specific needs and contexts of organizations or industries

• Pre-requisites for participants may include basic knowledge of accounting, risk management, and internal controls

• Global Business Minds can provide on-site training at your company’s location or deliver the program virtually.

We believe this program will empower you to excel in your internal audit career by providing a strong foundation in ISPPIA standards, advanced reporting skills, and practical knowledge to confidently contribute to organizational success.