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Internal Auditing Fundamentals

Understand the fundamentals of an internal audit and recognize key risks and objectives when preparing for an internal audit.

Many people outside of internal audit groups do not understand the benefits of internal auditing. They believe internal audits only revolve around financial items and are similar to external audits. There are several types of internal audits that are not only compliance oriented but opportunities for process improvement and saving money. Part of the responsibility of the internal auditor is sell the positive attributes of internal auditing. The topic will include how to perform internal audits and sell your findings and conclusions. There will be stories from the field such as the Big Red Button, the oily fingers audit that saved over $1 million and how an internal audit turned a company's $300 million division to a profit versus a deficit for the year. There will also be a discussion on getting out there in the field (site visits, calls, and observations). This material will also review internal audit reporting at various levels and discuss the benefits of networking and training in internal audit field and your industry.

Runtime: 92 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

History of Internal Audit

  • Milestones (Examples 1 and 2)
    • 1941 Institute of Internal Audit (IIA) Established
    • 1989 United Nations Grants Consultative Status to the IIA
    • How Internal Audit Has Evolved

Type of Audits Definition

  • Auditing Versus Accounting
  • Types of Internal Audits
    • Operational
    • Financial
    • IT
    • Compliance
    • Management (Performance)
    • Fraud
    • Followup
    • Continuous
    • Management Consulting
    • Combination Audits

Internal Audit Standards

  • Standards Established by the IIA
  • Examples Include Independence and Planning

How-To and Examples

  • Establish Objectives
  • Identify Risk
  • Effective Fieldwork
  • Report Communication
  • Networking
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

OnDemand Course

This course was last revised on July 13, 2020.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

David Naser

David Naser

JPAssociates, Inc.

  • Audit readiness leader for the Defense Logistics Agency (STORES Program) at JPAssociates, Inc.
  • Partner, Parente Randolph Accounting Firm
  • Audit director, The Boeing Company
  • Expertise on internal audit, risk management, and Sarbanes-Oxley Act
  • Conducted several seminars on internal audit, and Sarbanes-Oxley Act
  • Certified Internal Auditor, Institute of Internal Auditors (IIA)
  • Certified Fraud Examiner, Association of Certified Fraud Examiners (ACFE)
  • Certified Public Accountant, American Institute of Certified Public Accountants (AICPA)
  • M.S. degree, Central Michigan University; B.S. degree, Indiana University of Pennsylvania
  • Can be contacted at 610-304-9618 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 407069
Published 2020
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