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Internal Audit Quality Assurance

ACI Learning
Training overview
4 days
2,395 USD
Next start date: 5/31/2021 - Online
Professional Course

Course description

Internal Audit Quality Assurance

This course covers how to prepare for and undergo an external quality assessment review, how to conduct a self-assessment as outlined by the IIA Standards, how the review can benefit your department, and review methodologies available. This course also provides students with best practices to improve the quality of your audit methodology, avoid common mistakes, and increase the effectiveness of the internal audit function.

COVID-19 Update

In light of COVID-19, this provider is now delivering some or all of their courses online. Contact them for more information!

Who should attend?

Chief Audit Executives, audit directors and managers, internal auditors who need an understanding of the IIA Standards to participate in an quality assurance review and those responsible for outsourced audit activities.

Prerequisites

  • A Basic Knowledge of Internal Auditing

Training content

Understanding the background:

  • The quality assurance and improvement programme
  • The relevant IIA standards and practice advisories
  • The key requirements

Quality management principles:

  • Defining quality
  • The key elements required
  • What is quality assurance and what does it mean for IA?
  • Quality models/philosophies
  • Who is responsible?
  • Quality assurance versus quality control

Exploring the external quality assessment options:

  • External assessment
  • Self-assessment with independent validation

Determining the optimal focus and scope:

  • Compliance, benchmarking or improvement?
  • Key areas covered by the EQA
  • Clarity on desired outputs: a tailored approach

Identifying key stakeholders and other assurance providers:

  • Dealing with complexities (joint ventures, co-sourcing etc)
  • Ensuring added value
  • Obtaining audit committee buy-in
  • The merits of self-study

Securing the right team:

  • Drafting the request for proposals
  • Selection criteria (internal and external assessors)

The external assessment process:

  • Surveys and questionnaires: issue and analysis of results
  • On-site fieldwork: interviews, working practice and work file review
  • Evaluation principles
  • Formulating the opinion
  • Sample customer/stakeholder questionnaires will be provided to all delegates

Being prepared:

  • Understanding the compliance requirements (the key criteria for the Code of Ethics and each standard)
  • Predicting the outcome and adjusting accordingly!

Reporting results:

  • Reporting lines
  • Closing conference and issue of draft report
  • Management responses / action plan
  • Issue and presentation of final report
  • Audit committee involvement

The requirement for periodic internal assessments:

  • The need for independence
  • Selecting the review team
  • Assuring added value
  • Assimilating and responding to the key issues

Ongoing internal assessment:

  • Performance metrics and benchmarking
  • Building ongoing improvement

Creating a cost-effective quality assurance and improvement process:

  • Meeting the requirements in everyday practices
  • IIA guidance and tools
  • Common QA&IP challenges
  • Learning from the outcomes of other external and internal assessments
  • Implementation “top tips”
  • Building a road map to compliance
  • Reviewing a sample quality assurance and improvement programme

Certification / Credits

What You’ll Learn

You will learn how to prepare for and conduct an external quality assurance and improvement program of the internal audit function. You will learn about the key documents needed, stakeholder to interview, how to review the workpapers and common failure points.

About ACI

ACI Learning

At ACI Learning, we train leaders in Cybersecurity, Audit, and Information Technology. Whether you're starting your IT career, mastering your profession, or developing your team, we're with you every step of the way. We believe that training is not a...


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