Internal Auditing and Control

Overview

Internal auditing and control play a vital role in helping organizations manage risk, uphold accountability, and enhance internal processes. While auditing is often seen as a routine or regulatory function, its scope has expanded considerably. Modern internal auditors are expected to provide actionable insights, evaluate system performance, and support strategic decision-making.

This course equips participants with a comprehensive understanding of internal auditing’s core functions. Beginning with fundamental audit principles, it progresses to practical applications, including audit planning, risk assessment, and control evaluation. Concepts are reinforced with real-world examples and case studies, enabling participants to translate theoretical knowledge into practical solutions for organizational challenges.

Internal control refers to the processes, policies, and procedures implemented by management to achieve organizational objectives, safeguard assets, and ensure accuracy and reliability in financial reporting. Effective internal control systems help organizations achieve operational efficiency, prevent fraud and errors, and comply with regulatory requirements.

Objective

• Understand the fundamental concepts and principles of internal auditing.
• Explore the relationship between internal control and internal auditing.
• Understanding the need for internal audit and control, and their importance in governance procedures
• Create audit plans based on the control risk assessment findings and auditing objectives
• Develop a framework for planning, conducting, and analyzing internal audit
• Learn how to manage and implement effective internal control measures.
• Understand the phases of the internal auditing process.
• Conduct risk assessments and identify factors contributing to high-risk areas.
• Recognize internal control as a critical line of defense within the organization.