Description:
Update as of 11 Dec 2024: The course has been cancelled due to insufficient sign-ups. Please contact us at iia-academy@iia.org.sg should you wish to be informed of the next course run. Thank you.
CPE Hours: 16
INTRODUCTION
Are you new to internal audit? Or a first-time user of The IIA’s International Professional Practices Framework (IPPF)?
This course is a comprehensive training that offers participants a unique opportunity to develop a foundational and fundamental understanding of the internal audit profession, the internal audit process, and how the IIA’s International Professional Practices Framework (IPPF), including the effective 2025 Global Internal Audit Standards™ serves as the guiding compass for the internal audit activity.
Whether you are pursuing an understanding of the internal audit nomenclature as a new practitioner; an in depth exploration of the domains, principles, and standards because you are an external auditor transitioning to internal auditing; or even on the staff of a new internal audit department that needs to prepare for building a quality assurance improvement program, this course delivers an enhanced level of knowledge of the professional practice of internal auditing.
This highly interactive, hands-on, comprehensive course begins with an introduction to The Institute of Internal Auditors (The IIA); the widely recognized guidance found in the IPPF, including the Global Internal Audit Standards; and compares and contrasts internal audit to external audit, while also helping you to understand the purpose, authority, and responsibility of the internal audit activity and the concept of governance. This course also provides high-level guidance on how to communicate findings, conclusions, reports, and overall opinions; disseminate results; and establish action plans and monitoring programs.
WHO SHOULD ATTEND
Participants will develop a deep understanding of the IPPF and Global Internal Audit Standards to develop a comprehensive foundation to work within the world of internal audit.
This course is designed for those new to internal audit - with less than two years of internal audit experience - who are looking for a fundamental understanding of the internal audit profession. This course will also benefit experienced external auditors and/or regulators who are transitioning to an internal audit role.
LEARNING OUTCOMES
- Establish a clear understanding of the role of internal audit, vs external audit.
- Identify the components of the International Professional Practices Framework (IPPF).
- Explore the five domains and the associated principles and standards of the Global Internal Audit Standards™.
- Describe the importance of professionalism, individual objectivity, and following a code of ethics for internal auditors, as described in Domain II.
- Emphasize the importance of governance as outlines in the Standards, specifically Domain III.
- Understand the factors associated with managing the internal audit function as described in Domain IV.
- Explore how to perform internal audit services, as described in Domain V.
- Understand the Quality Assurance and Improvement Program (QAIP) process and the overarching consideration of quality assurance throughout internal audit processes.
COURSE OUTLINE
Purpose of Internal Auditing
- Internal vs external auditing.
- The professional practice of internal auditing.
- The Institute of Internal Auditors (The IIA) and the International Professional Practices Framework (IPPF).
- The purpose, authority, and responsibility of internal audit.
Ethics and Professionalism
- The important of a code of ethics for internal auditors.
- Legal and professional behavior.
- The importance of individual objectivity.
- Safeguards to ensure to individual objectivity.
- Assessment and maintenance of individual internal auditor objectivity.
- Policies that promote objectivity.
- Distinctions between proficiency and due professional card.
- Knowledge, skills, and competencies required to fulfil the responsibilities of the internal audit activity.
- Achieving competency through continuing professional development.
Governing the Internal Audit Function
- Concepts of organizational governance.
- The role of the board.
- The importance of organizational independence.
- Elements that affect organizational independence.
- Safeguards to ensure organizational independence.
- Quality assurance program and external assessment.
Managing the Internal Audit Function
- The internal audit charter.
- Fundamental concepts of risk and the risk management process.
- The internal audit activity's role in the organization's risk management process.
- Internal audit annual plan and resource planning.
- Communication skills, strategies, and requirements.
- Performance measurement.
- Internal quality assessment.
Performing Internal Audit Services: Planning
- Purpose of the engagement work program and key components.
- Establishing and communicating the objectives, evaluation criteria, and scope of the engagement.
- Performing a risk assessment during engagement planning.
- Resource planning for an engagement.
Performing Internal Audit Services: Fieldwork
- Sourses of evidence.
- Application of analytical review techniques.
- Documentation and workpaper requirements.
Performing Internal Audit Services: Communicating
- Summarizing and developing engagement findings.
- Providing recommendations to enhance and protect organizational value.
- Preparation of workpapers and supporting documentation.
- Engagement communication and reporting process.
Performing Internal Audit Services: Monitoring
- Assessing engagement outcomes, including the management action plan.
- Managing monitoring.
ABOUT THE TRAINER
Ms Melissa Aw Yong is a Certified Internal Auditor (IIA). She was also one of the Board of Governors of The Institute of Internal Auditors Singapore. She served on the Board of the Singapore Chapter of the Association of Certified Fraud Examiners, where she was the President for 3 years.
Currently, she heads an Internal Audit Division, which is also responsible for investigations. She gained valuable work experience in internal audit, risk management, compliance and corporate investigations with professional firms, MNCs, local conglomerates and government linked companies.
Melissa obtained her Bachelor of Accountancy from Nanyang Technological University. She received a Certification in Control Self-Assessment (IIA), is a Certified Fraud Examiner (ACFE) and a Chartered Accountant of Singapore (ISCA).
REGISTRATIONPlease email the completed registration details as per the excel form to IIA Academy at iia-academy@iia.org.sg. We will update you upon successful registration of the mentioned seminar. GROUP DISCOUNTRegister as a group of 4 or more participants for the same course and enjoy a 10% group discount!This promotion is applicable for registrations received from the same company and registered within the same day. The discount is applicable in one single invoice. PAYMENTFor more details about payment modes, please click HERE.
IMPORTANT NOTE
- Please email the completed registration details as per the excel form to IIA Academy at iia-academy@iia.org.sg. We will update you upon successful registration of the mentioned seminar.
- Once the course is confirmed, an email confirmation will be sent to the registrants’ contact email addresses 1 week prior to the course commencement date.
- If you do not receive any email notification regarding your course registrations, please call IIA Academy at 6324 9029 ext 2004 or 2005.
TERMS AND CONDITIONS
- Registration is on a first-come, first-served basis.
- Contact person will be notified via email upon successful registration of the participants. The seminar details would be sent to the registered participants one week prior to the seminar.
- Registration fee must be received prior to the date of the seminar.
- Registered participants will be liable for the full registration fee in the event of non-attendance on the date of the seminar.
- Cancellation must be submitted in writing to the Academy team at iia-academy@iia.org.sg at least 7 working days prior to the seminar and subject to IIA Singapore's approval. A processing fee of $100 per participant will be imposed for any cancellation. Substitutions will be permitted and conditions will apply. You may substitute a “like” person to attend the seminar in your place – for example, if you are an IIA Singapore member, you may substitute with another IIA Singapore member.
- IIA Singapore reserves the right to revise the seminar programme as necessary.
- IIA Singapore reserves the right to cancel or postpone the seminar should the minimum class size is not fulfilled. IIA Singapore will refund the full registration fee which has been paid.
- IIA Singapore reserves the right to take videos and photographs during the seminar for use in IIA Singapore’s marketing collaterals and other publicity purposes.
- Complimentary parking, if any, will be provided on a first-come-first-served basis.
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