General Description
The Internal Audit and Compliance Oversight course provides a comprehensive theoretical and practical framework for understanding the role of internal audit in enhancing governance, managing risks, ensuring the effectiveness of control systems, and maintaining compliance with statutory and regulatory requirements within organizations.
The course focuses on moving trainees from understanding the fundamental concepts of internal auditing to a structured practical application that begins with defining the audit scope and understanding relevant risks and controls, followed by collecting and documenting professional evidence, evaluating control design and operating effectiveness, and ultimately identifying instances of non-compliance and formulating audit findings and professional reports.
The course covers the professional principles and standards relevant to internal auditing, 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.
It 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 applied.
