INTERNAL AUDIT 101: BASICS AND PRINCIPLES
March 1-4, 2021

Four-Day Webinar (16 Hours CPE)

Daily 12:30pm - 4:30pm

Topic: INTERNAL AUDIT 101: BASICS AND PRINCIPLES

Do you find it difficult to find good training for your new auditors? Do you have a rotational program and constantly need basic audit training for new hires or transfers into the department? Audit 101 is the perfect course to send new auditors to learn the basics of auditing. This course is an overview of the auditing field, key terminology and basic beginner steps on how to audit. New auditors should not start their new jobs withouttaking this course!

Who Should Attend: Financial, Operational, and Information Technology Auditors with less than two years of audit experience (NASBA Field of Study: Auditing)

• Overview and basics of internal auditing

• The role of an audit staff

• Basic documentation techniques

Agenda

I. Introduction and Background

a. Definition of Internal Auditing

b. What do Internal Auditors do?

II. History of Internal Auditing

a. Beginnings

b. Traditional vs. Modern Internal Auditing

III. Overview of Internal Audit Guidance

a. Institute of Internal Auditors/International Professional Practices Framework

b. Code of Ethics

c. Standards

d. Practice Advisories

IV. Internal Audit Planning

a. IIA Requirements

b. Planning

c. Audit Risk Assessment

V. Internal Audit Process

a. Preliminary Work

b. Development of Audit Workprogram

c. Conducting Fieldwork

d. Documenting Results and Observations

VI. Sampling Methodologies and Overview of Application

VII. Internal Audit Wrap-Up

a. Audit Reporting

b. Effective Exit Conferences

c. Audit Follow-Up Basics

VIII. Flowcharting

IX. Interview Techniques

X. Future Steps and Hurdles

a. Discussion of future trends and techniques

Experience level: Basic

Prerequisites: None

CPE Credit(s): 16 hours