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Corporate management personnel often are not aware that internal auditors have standards and guidelines defined by the profession. Internal Audit (IA) is not always seen as those who must follow established professional standards. Internal auditors don’t have a “license to practice”.  So why do we need Standards?

A value oriented IA function will have an understanding of the International Professional Practices Framework (IPPF) Standards and be able to articulate their importance to management. Absence of acknowledgement of the Standards infers the group is a quality assurance function. That may be what the organization wants, but they should be able to differentiate.

The courses on “Top Skills for Internal Audit” and “Foundations of Internal Audit” covered aspects of business acumen and included concepts of the Institute of Internal Auditors (IIA) Standards. This course will delve deeper into the major components of the Standards and their meaning to the profession.

 

Learning Objectives

  • Explore the mission of Internal Audit (IA) as defined by the Institute of Internal Auditors (IIA)
  • Explore the Mandatory Guidance and core principles as identified by the Institute of Internal Auditors Standards
  • Explore the IA Code of Ethics as defined by the Institute of Internal auditors
Last updated/reviewed: October 03, 2017

Included In Certifications

This course is included in the following Expert Certifications:

17 CoursesInternal Controls Certification

  1. Internal Controls: What Every Financial and Accounting Professional Needs to Know
  2. COSO 2013 Framework Requirements and Implementation Overview
  3. Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part One
  4. Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part Two: Managing Internal Audit and Nature of Work
  5. Applying the Standards for Internal Auditors in Line with Your Organization's Needs – Part Three: Executing the Audit Engagement
  6. Identifying and Implementing the Proper Balance of Internal Controls
  7. Proper Documentation Methods for Internal Audit and Internal Controls Processes
  8. Information Technology (IT) Risks in Emerging Business Environments
  9. Foundations for a Strong Internal Audit Department
  10. Keys to Managing an Effective Internal Audit Function
  11. Internal Audit: Keys to Building Effective Relationships with the Audit Committee
  12. Understanding Risk-Based Auditing
  13. Risk Based Auditing – Establishing a Methodology
  14. Risk Based Auditing – Applying the Methodology
  15. Segregation of Duties for Core Business Processes
  16. Keys To Maintaining Objectivity and Professional Skepticism
  17. When The Whistle Blows Part 2: Managing Whistleblower Hotlines

19 Reviews (57 ratings)Reviews

5
Anonymous Author
This is a good course for introduction to the IIA.
4
Member's Profile
The course explained very well the core principles and mission of the IA activity. It also explained very well the IPPF standards and the Code of Ethics. May be some scenarios normally faced by the IA in their practical professional life which challenge these principles could have been listed for better understanding
5
Member's Profile
An excellent course on the responsibilities and standards of internal auditors. I am not an IA and learned a lot about the profession.
4
Member's Profile
Good introduction to the IIA standards. Presentation was informative to establish a value oriented IA function.
5
Anonymous Author
Lynn always gives great examples that really help you apply the concepts and that is still true in this lesson!
5
Anonymous Author
This course was very helpful. It has a lot of information and some sessions needed to be in its own section.
5
Anonymous Author
Спасибо за подробный курс. Материал изложен очень доступно
4
Member's Profile
Provides a deeper understanding of internal audit principals and ethics rules of conduct
4
Anonymous Author
this course had a lot of excellent material that was very helpful for beginners.
3
Member's Profile
The information are good organised. The imprortant information are listed.
4
Member's Profile
Another good course in the series of internal control certification.
4
Member's Profile
Great refresher on the Standards of Internal Audit.
3
Member's Profile
Valuable information about internal audit function
5
Anonymous Author
Very detailed and comprehensive session.
4
Anonymous Author
INFORMATIVE CONTENT EASY TO UNDERSTAND.
5
Member's Profile
I enjoy this course and the instructor
5
Anonymous Author
Easy to understand solid presentation
4
Anonymous Author
interesting course
5
Member's Profile
Very helpfull

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION and OVERVIEW
  5:30Introduction to Institute of Internal Auditors Standards Part One
  9:30Internal Audit Mission
Principles
  5:37Core Principles
  12:16Principle Competence and Due Care
  8:24Competence Alternatives
  15:42Principle: Objective and Free from Undue Influence
  9:09Principle: Positioning and Resourcing
Alternatives
  10:54Alternative Resourcing
  10:57Alternative Positioning
  10:13Definition of IA Alternatives
Ethics and Standards
  8:29Ethics Rules of Conduct
  5:47IPPF Standards
Continuous Play
  1:50:42The Institute of Internal Auditor Standards Part 1
SUPPORTING MATERIALS
  PDFSlides: Institute of Internal Auditors Standards Part One
  PDFInstitute of Internal Auditors Standards Part One Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM