General Description
The Corporate Oversight and Internal Audit Training Package provides a comprehensive scientific and practical framework for understanding the role of internal audit in enhancing governance, risk management, the effectiveness of control systems, and compliance with statutory and regulatory requirements within organizations.
The training package focuses on taking learners from an understanding of the fundamental concepts of internal audit to a structured practical approach that begins with defining the audit scope and understanding relevant risks and controls, followed by collecting and documenting professional evidence, evaluating the design and operating effectiveness of controls, and ultimately identifying instances of non-compliance and formulating professional audit findings and reports.
The training package covers the professional principles and standards relevant to internal audit, components of internal control, and the risk-based auditing methodology, in addition to methods for collecting, analyzing, and documenting evidence to support the soundness of professional conclusions.
The training package also focuses on distinguishing between the design of a control and its theoretical ability to address a risk, and the operation of the control and the extent to which it is actually and consistently implemented.
