Essential Skills for Internal Auditors

Introduction

This Training Course is designed to provide a strong and practical foundation in the key principles, frameworks, and methodologies that shape today’s internal audit function. As organisations face increasing operational complexity, regulatory expectations, and governance demands, internal auditors must demonstrate a deep understanding of risk-based auditing, corporate governance, and assurance practices. This course offers a comprehensive introduction to the Internal Audit profession and its evolving responsibilities within modern organisations. Participants will explore the International Professional Practices Framework (IPPF), audit processes, and essential tools required to execute audit engagements with clarity and professionalism. The Internal Auditing Course also provides essential insights into the integration of audit functions with risk management, compliance, and corporate governance, ensuring participants understand how these areas collaborate to enhance organisational integrity and accountability. Through real-world perspectives and structured learning, the Fundamentals of Internal Auditing Course equips delegates with the knowledge to assess governance structures, evaluate risk exposure, enhance audit performance, and contribute to improved organisational oversight. By understanding the full audit cycle and the interrelationships between audit, risk, and compliance, participants leave with the confidence to support their organisation’s governance objectives. Also, in this training course, you will learn how to deliver audit reports which are positive, clear and focused, written in simple language and get straight to the point. You will return with proven techniques that enable your reports to ‘hit the reader between the eyes’. This Report Writing and Communication Skills for Auditors training course is also designed to enable participants to develop the key skills of a modern auditor – communication, teamwork, negotiation, planning and time management – to name but a few. You will also be introduced to the new communication ideas in the Internal Audit (IA) profession and how to apply them.

This training course will feature:

• Tips for writing better Executive summaries
• Ways to draft a report with impact
• Ideas to improve the review process after the report has been drafted
• Ways to simplify and focus the main report
• The key characteristics of effective communication
• Ways to improve your negotiation and listening skills

Objectives

By the end of this Training Course, participants will be able to:

• Strengthen audit knowledge and apply core internal audit methodologies
• Assess governance structures and evaluate the control environment
• Apply risk-based internal auditing techniques effectively
• Enhance audit reporting quality and communication with management
• Improve performance and accountability within internal audit teams
• Understand governance concepts and their application in organisational improvement
• Simplify your reports and enhance their readability
• Significantly enhance the impact of your reports
• Make your reports easier to write, easier to review and easier for management to implement
• Improve the acceptance and implementation of your recommendations
• Use all your interpersonal skills more efficiently
• Manage your time more effectively
• Negotiate more successful outcomes
• Apply proven listening skills

Training Methodology

This dynamic training course will utilise a variety of proven learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes various exercises and case studies to provide practical application of the tools and techniques. A series of valuable tools and templates will be provided in electronic format – to take away and use immediately. 

Who Should Attend?

This Internal Auditing Course is ideal for professionals involved in internal audit, risk, compliance, and governance functions across all industries. It will greatly benefit:

• Audit Managers and Internal Auditors
• Risk Managers and Compliance Officers
• Operational Risk Specialists
• Internal Control Managers
• Heads of Audit
• Audit managers
• Senior auditors and lead auditors
• Less experienced auditors
• Quality auditors
• Other assurance professionals such as those in Compliance and QA functions who are wanting to improve their reports
• Governance and Corporate Oversight Professionals
• CFOs and Financial Leaders involved in audit and control functions

Course Outline

Day 1: Internal Audit in the Context of Corporate Governance

• Corporate Governance; Definition, Concept, Rules, Principles

• What are the obstacles and barriers to implement effective governance?

• The Risk, Compliance & Internal Audit Triangle

• Role of Audit Committee in checking audit notes (internal/external) among Board’s important committees’ roles and responsibilities

• Using internal and external audit standards to audit Governance activities

• Key components, practices and activities to audit processes and relations by which corporations are controlled and governed

Fundamentals and Basics of Audit; Evolution of Auditing towards Risk-Based Auditing

• Definition and objectives of internal audit with understanding of Internal Audit Methodology

• Auditors Tools, Techniques, roles and responsibilities

• Report results of the audit via Field Memorandum

• The transition from system-based to risk-based internal auditing

• Risk-Based Audit Approach and Risk-Based Audit Methodology

• How and why audit units move into risk-based audit programs

Day 2: Preparing and Executing a Successful Risk-Based Audit Plan

• Developing risk-based audit plan

• Preparation of a clear plan to be approved by Audit Committee

• Efficiency in the non-recurrence of Audit Notes

• Identification and classification of audit risk

• Writing Audit Report; how to impress reader and how to address challenges

• How to structure effective audit report

Relationship Between Internal Audit & Risk Management

• Fundamental Concepts of Enterprise Risk Management

• Identifying different types of Risk Taxonomies

• Risk Control Self-Assessment (RCSA)

• What is operational risk management framework?

• Definition and objectives of internal controls; roles and responsibilities

• Latest trend in Auditing: Auditing the Control Environment

Day 3: The Evolution of Compliance Towards Risk-Based Compliance

• What is risk-based Compliance?

• What are the roles and responsibilities of the Compliance Head?

• International Standards for Anti-Money Laundering / Combatting Terrorism Financing (AML/CTF)

• Money Laundering Threats and Methods

• Terrorist Financing Threats and Methods

• International Case Study: HSBC in USA and Mexico - Case Study on Money Laundering Threats and Methods

Audit Reports – Your Shop Window

• The challenges of audit reporting

• The main problems with audit reports

• The need to create impact

• Analysis of 4 actual reports

• Evaluation of your own reports – using a proven method

• The Executive summary

Day 4:  Best Practice Audit Reports

• The psychology of audit reports

• Writing reports with impact

• The need to make reports more positive

• How to simplify the content

• Highlighting the issues that really matter

• Improving the review process

Keeping the Report as Simple as Possible

• The main report

• Writing a clear, concise report

• Forming and expressing the audit opinion

• Recommendations and action plans

• Finalising the report

• The need for follow-up – should this be carried by IA?

Day 5:  Effective Communication – the Key Audit Goal

• The challenges for auditors

• The characteristics of effective communication

• The impact on productivity of clear communication

• Interpersonal skills for auditors

• Influencing

• The power of senior management and stakeholder engagement

Negotiation and Listening

• The power of Effective negotiation

• Negotiating during each audit phase

• The need for win-win solutions

• Listening - the most important audit skill?

• Types of listening and the importance for IA

• Time Management