Certified Internal Auditor

Lesson 1

1. Part 1 – Internal Audit Basics
   1. Mandatory Guidance
      1. Definition of Internal Auditing
      2. Code of Ethics
      3. International Standards
   2. Internal Control / Risk
      1. Types of Controls
      2. Management Control Techniques
      3. Internal Control Framework Characteristics and Use
      4. Alternative Control Frameworks
      5. Risk Vocabulary and Concepts
      6. Fraud Risk Awareness
   3. Conducting Internal Audit Engagements – Audit Tools and Techniques
      1. Data Gathering
      2. Data Analysis and Interpretation
      3. Data Reporting
      4. Documentation / Work Papers
      5. Process Mapping, Including Flowcharting
      6. Evaluate Relevance, Sufficiency, and Competence of Evidence
2. Part 2 – Internal Audit Practice
   1. Managing the Internal Audit Function
      1. Strategic Role of Internal Audit
      2. Operational Role of IA
      3. Establish Risk-Based IA Plan
   2. Managing Individual Engagements
      1. Plan Engagements
      2. Supervise Engagement
      3. Communicate Engagement Results
      4. Monitor Engagement Outcomes
   3. Fraud Risks and Controls
      1. Consider the potential for fraud risks and identify common types of fraud associated with the engagement area during the engagement planning process
      2. Determine if fraud risks require special consideration when conducting an engagement
      3. Determine if any suspected fraud merits investigation
      4. Complete a process review to improve controls to prevent fraud and recommend changes
      5. Employ audit tests to detect fraud
      6. Support a culture of fraud awareness, and encourage the reporting of improprieties
      7. Interrogation/investigative techniques – Awareness Level (A)
      8. Forensic auditing – Awareness Level (A)
3. Part 3 – Internal Audit Knowledge Elements
   1. Governance / Business Ethics
      1. Corporate/Organizational Governance Principles – Proficiency Level (P)
      2. Environmental and Social Safeguards
      3. Corporate Social Responsibility
   2. Risk Management - Proficiency Level (P)
      1. Risk Management Techniques
      2. Organizational Use of Risk Frameworks
   3. Organizational Structure/Business Processes and Risks
      1. Risk/Control Implications of Different Organizational Structures
      2. Structure
      3. Typical Schemes in Various Business Cycles
      4. Business Process Analysis
      5. Inventory Management Techniques and Concepts
      6. Electronic Funds Transfer (EFT)/Electronic Data Interchange (EDI)/E-commerce
      7. Business Development Life Cycles
      8. The International Organization for Standardization (ISO) Framework
      9. Outsourcing Business Processes
   4. Communication
      1. Communication
      2. Stakeholder Relationships
   5. Management / Leadership Principles
      1. Strategic Management
      2. Organizational Behavior
      3. Management Skills/Leadership Styles
      4. Conflict Management
      5. Project Management / Change Management
   6. IT / Business Continuity
      1. Security
      2. Application Development
      3. System Infrastructure
      4. Business Continuity
   7. Financial Management
      1. Financial Accounting and Finance
      2. Managerial Accounting
   8. Global Business Environment
      1. Economic / Financial Environments
      2. Cultural / Political Environments
      3. Legal and Economics—General Concepts
      4. Impact of Government Legislation and Regulation on Business