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- Tasks: Learn to develop and improve internal audit functions for financial success.
- Company: Join a leading finance training provider focused on practical skills.
- Benefits: Gain valuable insights, networking opportunities, and enhance your career prospects.
- Why this job: Make a real impact in organisations by ensuring financial stability and growth.
- Qualifications: Ideal for accounting professionals and anyone interested in internal auditing.
- Other info: Interactive course with hands-on learning and expert guidance.
The predicted salary is between 36000 - 60000 £ per year.
Delegates attending this course will have the desire to set up or improve their own organization’s internal audit function. The development, monitoring and continued improvement of a highly-integrated internal audit function is essential for the continued financial success, stability and growth of a world-class organization.
A well-designed and effective internal audit system will provide verification and support that accounting and financial policies, procedures and controls are working adequately. An appropriate system of internal controls will be required for the organization to protect itself from the risk of fraud, and an effective internal audit function will suggest suitable internal controls, monitor the effectiveness of these controls along with other tasks that will lead to greater profitability and lower risk for the organization.
This course will feature:
- The issuance of Audit Reports
- The different types of audit and the benefits to be obtained from each
- Developing an Internal Audit Department
- Efficient Planning, Controlling and Recording of an audit assignment
What are the Goals?
By the end of this course, participants will be able to:
- Understand the role and function of an Internal Audit Department.
- Develop an Audit Committee Charter for a Board of Directors.
- Evaluate the effectiveness of in-place internal controls and security policies.
- Understand audit risk and efficiently plan, control and record an audit assignment.
- Conduct post-audit reviews and compile internal control updates for Boards of Directors.
Who is this Course for?
This course is suitable for a wide range of professionals but will greatly benefit:
- Accounting and financial professionals and senior management that are presently or may interface with the daily functioning of an internal audit department.
- Financial and non-financial professionals who may be appointed to support or interface with an Internal Audit Committee or that might review internal audit findings for Boards of Directors or investor/shareholder reports for other informational purposes.
- Non-financial professionals that may need to coordinate other activities with an internal audit department and/or share findings, reports or information.
How will this be Presented?
This course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This course is interactive and challenges one to think. The tutor will guide and facilitate learning, using direct input, discussions, case studies, exercises and video.
The Course Content
Day One: Defining and Developing the Internal Audit Process and Establishing the Roles within the Internal Audit Dept.
- Defining, developing and implementing an Internal Audit Function
- Defining the distinctions and responsibilities between Internal and External Auditors
- Identifying the Internal Audit Staff Positions
- Developing the Audit Committee Charter for a Board of Directors
- Review of Statements on International Auditing Standards Update and General Auditing Practice Issues
- Identifying Internal Audit Staffing Requirements
Day Two: Examining & Understanding the Differences between Various Types of Audits, including Risk Factors
- Operational Audits
- Compliance Audits
- Fraud and Forensic Audits
- Information Systems Audits
- Review of Current Year U.S. Audit Risk Alerts
Day Three: Selecting, Procedural Planning & Commencing Internal Audit Examinations
- Developing Streamlined Processes for Conducting Internal Audit Examinations
- Identifying Effective Audit Programs for the Various Types of Audits
- Evaluating and Selecting Internal Audit Methodologies
- Notifying the Internal Auditee and Supervisors of the Internal Audit Examination and Promoting Cooperation and Assistance in Achieving Common Goals
- Evaluating Internal Controls Systems and Accessing Network and Computer Files and Folders
- Effecting Changes to an In-Process Internal Audit Examination
Day Four: Managing Internal Audit Examinations & Ensuring the Credibility for the Internal Audit Team
- Planning the Audit Commencement Conference Meeting
- Accumulating Relevant Documentation during the Internal Audit Process
- Professional Standards and Responsibilities Associated with Internal Auditing Documentation
- Tools and Methods for Ensuring a Smooth Audit Process
- Techniques for Ensuring Credibility for the Internal Audit Team
Day Five: Issuing Reports, Conducting Exit Conferences & Implementing Corporate Governance Policies
- Communicating Audit Findings and Suggestions for Areas of Improvement
- Planning the Audit Exit Conference Meeting
- Distributing the Final Internal Audit Report within the Organization
- Conducting Post-Audit Reviews
- Internal Controls Updates for Boards of Directors
- Audit Risk Developments and Projects on the Near Term Horizon
Course: Developing, Improving & Monitoring the Internal Audit Function in London employer: Europeanqualitytc
Contact Detail:
Europeanqualitytc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Course: Developing, Improving & Monitoring the Internal Audit Function in London
✨Tip Number 1
Network like a pro! Reach out to professionals in the internal audit field through LinkedIn or industry events. We can leverage our connections to get insights and maybe even referrals for job openings.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of internal audit processes and current trends. We should be ready to discuss how we can improve an organisation's audit function, showcasing our understanding of the role.
✨Tip Number 3
Don’t underestimate the power of follow-ups! After an interview, send a thank-you email reiterating your interest in the position and highlighting how your skills align with their needs. It keeps us fresh in their minds!
✨Tip Number 4
Apply directly through our website! It’s often the best way to ensure your application gets seen. Plus, we can tailor our applications to highlight our relevant experience in developing and monitoring internal audit functions.
We think you need these skills to ace Course: Developing, Improving & Monitoring the Internal Audit Function in London
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your application to highlight how your skills and experiences align with the internal audit function. We want to see how you can contribute to developing and improving our audit processes!
Showcase Relevant Experience: Don’t forget to include any relevant experience you have in finance, accounting, or auditing. We love seeing candidates who can demonstrate their understanding of internal controls and audit methodologies.
Be Clear and Concise: Keep your application clear and to the point. Use straightforward language to explain your qualifications and avoid jargon unless it’s relevant to the role. We appreciate clarity as much as you do!
Apply Through Our Website: For the best chance of success, make sure to apply through our website. It’s the easiest way for us to review your application and get back to you quickly. We can’t wait to hear from you!
How to prepare for a job interview at Europeanqualitytc
✨Know Your Audit Basics
Before heading into the interview, brush up on the fundamentals of internal auditing. Understand the key concepts like risk assessment, internal controls, and the differences between various types of audits. This knowledge will help you answer questions confidently and demonstrate your expertise.
✨Prepare Real-World Examples
Think of specific instances where you've successfully developed or improved an internal audit function. Be ready to discuss challenges you faced, how you overcame them, and the positive outcomes. This will show your practical experience and problem-solving skills.
✨Familiarise Yourself with the Course Content
Since the role involves developing and monitoring the internal audit function, review the course content thoroughly. Be prepared to discuss how you would apply the techniques and methodologies taught in the course to real-life scenarios within an organisation.
✨Ask Insightful Questions
At the end of the interview, don’t shy away from asking questions. Inquire about the company’s current internal audit processes, challenges they face, or how they measure the success of their audit function. This shows your genuine interest and helps you assess if the role is a good fit for you.