Introduction to Internal Auditing

Overview/Description
 Surprises can be very costly to a company. Developing in-house strategies to ensure that internal processes are being followed and quality expectations are being met is a powerful tool for avoiding surprises. This course, Introduction to Internal Auditing, will introduce you to internal auditing strategies and techniques that help accomplish this end. Specifically, you will learn how to plan and report an internal audit and perform key quality control audit techniques.

Target Audience
 This series of courses is designed for business professionals who perform internal audit duties, and individuals interested in understanding auditing, its complexities, and processes. It is also useful for managers, government officials, and employees who may require a general knowledge of internal auditing for their job.

Expected Duration
4.5 hours

Lesson Objectives:

Preparing the Internal Audit

  • recognize the benefits of preparing to administer internal auditing activities.
  • match audit phases to examples of the documents used for each.
  • sequence examples of the steps to prepare for an internal audit.
  • apply the steps to prepare for an internal audit in a given scenario.
  • identify strategies that foster success in the opening conference of an internal audit.
  • direct a successful opening conference for an internal audit in a business scenario.

    • Reporting the Internal Audit

  • identify the benefits of knowing how to effectively report an internal audit.
  • identify examples of considerations for preparing an internal audit report in a given scenario.
  • identify examples of strategies for communicating the results of an internal audit.
  • apply techniques for effectively communicating the results of a given internal audit.

    • Internal Quality Control Audits

  • recognize the benefits of auditing a quality control system.
  • match the three factors to consider during a quality control audit with examples of how an internal auditor addresses each.
  • determine the effectiveness of a given internal quality control system.
  • match types of statistical sampling to situations when each should be used.

    • Course Number: FIN0232