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Course/Product Description

Fundamentals Of Internal Auditing

Format: In-Person Seminar
Find A Class Near You: View Dates And Locations For This Seminar

Fundamentals Of Internal Auditing

In this three-day seminar you will learn the concepts of traditional and operational auditing and gain proven tools and techniques for performing effective audits.

You will gain a solid background in the basics of documenting and evaluating internal control/fieldwork techniques. Using specifically formulated case exercises, you will examine the critical elements of internal auditing: assessing risk, flowcharting, designing flexibility into the audit program, performing the audit and applying audit results to solve business problems.

You also will focus on and put into practice the communications skills associated with internal auditing: conferencing with customers, writing audit findings, and selling audit recommendations.


1. Internal Auditing
  • IA Department Sample Charter
  • The Role Of The Internal Audit Department
  • The Standards
  • Leading-Edge Trends In IA
  • What Makes An Effective Internal Audit Department
  • Differences Between An Internal Auditor/External Auditor
  • Events That Have Helped Create Growth In IA
  • The Foreign Corrupt Practices Act (FCPA)
  • Federal Sentencing Guidelines
  • Sarbanes-Oxley
  • Fraudulent Financial Reporting
  • Internal Audit Department Sample Statement Of Purpose
2. Contemporary Internal Auditing
  • Types Of Internal Audits
  • Economy, Efficiency And Effectiveness
  • Operational Vs. Financial Auditing
  • Overview Of IT General Computer Controls (GCCS)
  • Steps In The Internal Audit Process: An Overview
3. Risk Assessment Strategies
  • Selecting The Client
  • Notifying The Client
  • Determining Risk
  • Performing Standard For Determining Risk
  • Effects Of Risk
  • Identifying Auditable Activities
  • Risk Factors
  • Trends In Risk Assessment
  • Risk Assessment Approaches
4. Planning And Preliminary Fieldwork
  • Strategies For Planning The Audit
  • Notifying The Client
  • The Planning Memo
  • Preliminary And Opening Meetings
  • The Importance Of Preliminary Work
  • Strategies For Planning Effectively
  • Planning Resources
5. Documenting Internal Controls
  • Evaluating And Documenting The System Of Internal Controls
  • Performance Standard For Controls
  • Control Points
  • Cost/Benefit Considerations
  • Types Of Controls
  • The Control Environment
  • Methods Of Documenting Internal Controls
  • Internal Control
6. Audit Programs
  • Performance Standards, Scope And Developing The Audit Program
  • The Audit Program As A Guide
  • Criteria For Audit Programs
  • Audit Objectives/Scope/Test Steps
  • Sample Audit Program
7. Fieldwork Techniques
  • Performance Standards For Fieldwork
  • Audit Evidence
  • Handling Sensitive Evidence
8. Workpapers
  • Performance Standards For Recording Information And Engagement Supervision
  • Purpose Of Audit Workpapers
  • Workpaper Techniques/Templates
  • Electronic Workpapers
  • Tick Marks
  • Quality Assurance And Improvement Program
9. Audit Findings
  • Fundamentals Of Audit Reports
  • Selling Your Report
  • Strategies For Issuing Timely Reports
  • Characteristics Of Effective Audit Reports
10. Audit Reports
  • Fundamentals Of Audit Reports
  • Selling Your Report
  • Strategies For Issuing Timely Reports
  • Characteristics Of Effective Audit Reports
11. Effective Audit Communications
  • Possible Barriers To Overcome In The Interview
  • Diffusing The Difficult Interview
  • Do’s And Don’ts Of Effective Interviewing
  • Strategies For Conducting Effective Closing Meetings
12. Sampling
  • Sampling And Its Effect On Audit Testing
  • Sampling Terminology And Methodologies
  • Sampling For SOX
You will receive copies of the Standards for the Professional Practice, invaluable sample documents you can use as models for your own drafts, the COSO overview, and complete text of the Sarbanes-Oxley Act of 2002.
Prerequisite: None
Learning Level: Basic

Dates & Times
Classes start on the date(s) posted herein, and run from 8:30am to 5pm daily, except for the last day of class, which ends at 3pm.

"Great class! I have learned so much being new to the audit world. Cannot imagine doing my job effectively without this course."
- Shakeya McDow, Risk Advisory Specialist, Brinker International

Licenses / Designations / Educational Credits:CPE
All US States: 24
About The Provider: Founded in 1978, MIS Training Institute is the international leader in audit and information security training, with offices in the USA, UK, and Asia. MIS' expertise draws on experience gained in training more than 200,000 delegates across five continents.

Helping audit and infosecurity professionals stay at the top of their game has always been at the core of MIS' mission. To that end, MIS has developed and focused its seminars, conferences, and symposia on the wide-ranging needs of internal and IT auditors and information security practitioners who are charged with controlling complex systems and business environments.

MIS' unparalleled course curriculum covers the most up-to-the-minute topics, provides proven audit and security practices, and delivers the information needed to be successful in today's organizations.

All MIS programs are led by industry experts…hands-on pros who have been in the field and who practice what they teach. Attendees of MIS Training Institute events benefit from unbiased practices, proven strategies, and lessons learned in the real-world.

MIS Training Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. NASBA Sponsor Number: 103321

Cancellation/Refund Policy

A full refund less a $100 administrative fee will be given for cancellations received 15 days or more before the event. Tuition is non-refundable for cancellations made 14 days or less before the event. You may, however, transfer your tuition to another MIS Training Institute event, less a $195 administrative fee. Transfers are valid for 12 months from the time of initial cancellation. Substitutions are welcome at any time.

Those who do not cancel before the event date and who do not attend are responsible for the full non-refundable, non-transferable tuition.
Price: $2,195.00
More Info: Contact Us For More Information
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Keywords For This Course:

Fundamentals Of Internal Auditing

Currently Scheduled Dates For This Seminar
Course TitleCity/StateDate
Fundamentals Of Internal AuditingNew York, NY10/22/2018
Fundamentals Of Internal AuditingDallas, TX11/5/2018
Fundamentals Of Internal AuditingSeattle, WA11/12/2018
Fundamentals Of Internal AuditingOrlando, FL12/10/2018

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