Monitoring and Developing the Internal Audit Function

This DIXONTECH course delivers comprehensive knowledge on building, managing, and enhancing the internal audit function to meet global standards and organizational expectations. Participants will learn how to evaluate audit performance, develop audit frameworks, and establish effective monitoring mechanisms aligned with governance, risk management, and control objectives.

TRAINING TOPICS

• Role and evolution of the internal audit function
• Designing and structuring audit frameworks
• Risk based internal auditing
• Performance monitoring and quality assurance
• Audit planning, execution, and reporting techniques
• Developing internal audit competencies and strategy

BY THE END OF THIS TRAINING COURSE, DELEGATES WILL BE ABLE TO:

•   Evaluate and strengthen audit performance systems
•   Design internal audit charters and structures
•   Apply risk based approaches to audit planning
•   Implement internal audit quality assessment programs
•   Align audit activities with governance objectives
•   Enhance auditor capabilities and performance metrics
•   Build audit dashboards and performance indicators
•   Drive continuous improvement in internal audit

TRAINING IS TAILORED TO

•   Chief Audit Executives and Audit Managers
•   Internal and External Auditors
•   Risk and Compliance Officers
•   Corporate Governance Specialists
•   Financial Controllers and Senior Accountants
•   Public Sector Audit Directors
•   Audit Consultants and Quality Reviewers
•   Assurance and Advisory Professionals

TRAINING METHODOLOGY

This DIXONTECH course integrates real world audit cases, benchmarking tools, and quality review frameworks. Participants will use international standards (IPPF, COSO, and ISO 19011) to perform diagnostic assessments, create audit improvement plans, and simulate audit committee reporting processes.

DAY 1

UNDERSTANDING AND STRUCTURING THE INTERNAL AUDIT FUNCTION

•   Evolution and purpose of internal auditing
•   Organizational positioning and independence
•   Developing internal audit charters and mandates
•   Governance relationships with the board and audit committee
•   Key principles of the IPPF framework
•   Core competencies of modern internal auditors
•   Role of internal audit in assurance and advisory services
•   Global trends shaping internal audit effectiveness

DAY 2

RISK BASED INTERNAL AUDITING FRAMEWORKS

•   Linking internal audit to enterprise risk management (ERM)
•   Identifying and prioritizing audit risks
•   Building risk based audit plans and programs
•   Integrating key risk indicators (KRIs)
•   Audit universe development and mapping
•   Assessing control design and effectiveness
•   Case study: applying a risk based audit cycle
•   Audit planning tools and templates

DAY 3

AUDIT EXECUTION, SUPERVISION, AND REPORTING

•   Developing effective audit work programs
•   Fieldwork documentation and evidence standards
•   Supervising audit teams and maintaining quality
•   Conducting closing meetings and management discussions
•   Writing impactful audit findings and recommendations
•   Rating, prioritizing, and categorizing audit issues
•   Effective follow up and issue tracking
•   Case exercise: preparing a final audit report

DAY 4

MONITORING, EVALUATION, AND QUALITY ASSURANCE

•   Key performance indicators for internal audit performance
•   Internal and external quality assurance reviews
•   Designing audit performance dashboards
•   Peer reviews and benchmarking techniques
•   Assessing compliance with IPPF and IIA standards
•   Automating performance monitoring using analytics
•   Role of internal audit in continuous improvement
•   Workshop: designing a quality assessment checklist

DAY 5

DEVELOPING AND ENHANCING THE INTERNAL AUDIT FUNCTION

•   Strategic planning for internal audit growth
•   Building capability frameworks and training plans
•   Introducing innovation and digital auditing tools
•   Strengthening relationships with management and stakeholders
•   Integrating ESG and sustainability in auditing
•   Reporting audit impact to executive leadership
•   Case study: audit transformation success stories