Training on Global Internal Audit Standards
The new Global Internal Audit Standards were released on January 9, 2024 and will become effective on January 9, 2025. Early adoption is encouraged. The previous version, the International Standards for the Professional Practice of Internal Auditing, released in 2017, remains approved for use during a one-year transition period. The Standards guide the worldwide professional practice of internal auditing, are principle-based, and serve as a basis for evaluating and elevating the quality of the internal audit function.
At the heart of the Standards are 15 guiding principles that enable effective internal auditing. Each principle is supported by standards that contain requirements, considerations for implementation, and examples of evidence of conformance. Together, these elements help internal auditors achieve the principles and fulfill the Purpose of Internal Auditing.
Training on Global Internal Audit Standards is designed to equip participants with a deep understanding of Global Internal Audit Standards. The course will cover international standards, including the Institute of Internal Auditors (IIA) standards, and provide practical insights to apply these standards effectively in various organizational contexts.
Target Participants
This training program is designed for internal auditors, risk managers, compliance professionals, finance professionals, and anyone seeking a comprehensive understanding of global internal audit standards.
What You Will Learn
By the end of this course the participants will be able to:
- Understand the Foundations of Internal Audit
- Gain a deeper understanding of Global Internal Audit Standards
- Demonstrate a thorough understanding of the IIA’s International Professional Practices Framework (IPPF)
- Differentiate between various international standards
- Recognize the historical development and evolution of internal audit standards globally
- Demonstrate Ethics and Professionalism in Internal Auditing
- Design and implement a quality assurance and improvement program for the internal audit function
Course Duration
Classroom Based – 5 Days
Online – 7 Days
Course Outline
Domain I: Purpose of Internal Auditing
- Purpose Statement
Domain II: Ethics and Professionalism
- Principle 1: Demonstrate Integrity
- Principle 2: Maintain Objectivity
- Principle 3: Demonstrate Competency
- Principle 4: Exercise Due Professional Care
- Principle 5: Maintain Confidentiality
Domain III: Governing the Internal Audit Function
- Principle 6: Authorized by the Board
- Principle 7: Positioned Independently
- Principle 8: Overseen by the Board
Domain IV: Managing the Internal Audit Function
- Principle 9: Plan Strategically
- Principle 10: Manage Resources
- Principle 11: Communicate Effectively
- Principle 12: Enhance Quality
Domain V: Performing Internal Audit Services
- Principle 13: Plan Engagements Effectively
- Principle 14: Conduct Engagement Work
- Principle 15: Communicate Engagement Results and Monitor Action Plans
Applying the Global Internal Audit Standards in the Public Sector
- Laws and/or Regulations
- Governance and Organizational Structure
- Funding
