The trinity of Internal Audit: planning, reporting and follow-up activity (CPE 21)
Similarly to the organizations within which it functions, Internal Audit has itself became a complex profession with several elements, and activities. Nevertheless there are three “cornerstones” that need particular attention: the planning of the internal audit activity (to make sure that the resources are allocated to activities carrying high risk), the execution of the audit engagements and reporting on their results (to bring the added values expected of internal audit) and the follow-up of the actions taken (to make sure that the proposed measures are implemented). This course provides attendees with in-depth information on these three important elements of internal audit activity.
Internal Auditors and managers, who want to get acquainted with the internal audit function
- Practical examples
- Group work
Content of the seminar
- (The importance of planning in the work of Internal Audit.
o Defining audit objects and setting up the audit universe.
o Risk assessment as fundamental element of the planning process.
o Drawing-up, finalizing and the approval of the annual audit plan.
- The importance of audit execution and reporting in the work of Internal Audit.
o Why is it 50% in importance in auditing?
o Communication with the stakeholders: learning what they require and integrating it into the reporting activity.
o How reporting can support and improve the image of the internal audit function?
- Conducting the individual audit engagements
o Preparation for the audit
o Executing the audit
o Communication and quality assurance throughout the audit engagement.
- The writing of an audit report.
o Audit report structure - how to align it with the (internal audit) strategy?
o Do-s and Don't-s of report writing.
o Qualifying the internal audit findings.
o Quality assurance of the internal audit report.
- The importance of follow-up in the work of Internal Audit.
o Follow-up as a "cornerstone" of audit activity, the conditions for having an effective follow-up regime.
o Possibilities to broaden the follow-up activity (eg. in cooperation with the other lines of defense within the organization).
o Reporting on the results of the follow-up activity.
- Reporting to the Boards: compilation of periodic and ad-hoc reports.
o Periodic reports: the primary surface of Internal Audit towards the stakeholders.
o Reporting on ad-hoc requests: how to be a trusted advisor to the Boards?
Practical tips on staying fresh and relevant in reporting.
9.00 – 17.00
9.00 – 17.00
9.00 – 17.00
Mitglieder: € 1.250,- Nichtmitglieder: € 1.450,-
Dr. Márton GAJDOS - CIA, CISA, Senior Internal Audit and Compliance Expert President of IIA Hungary
University degree in economics and law. Worked for two decades in the financial sector, starting his professional career in various positions of the internal control system (risk control, compliance), later becoming Chief Audit Executive. Since 2016 member of the Board of IIA Hungary, since 2018 the President of this organization