The Institute of Internal Auditors is recognized as the authority that establishes the guidelines and standards for the internal audit profession. This organization has made significant advancements over the past decade with development of the International Professional Practices Framework. The framework guides auditors in utilizing a structure methodology when performing internal audit evaluations.

This text base course is provided in 6 sections. This section deals with concepts of executing the assurance function including: planning, scoping, field work and reporting. We also discuss the concepts of risk based auditing and internal audit and Sarbanes Oxley work.

As the world has rapidly evolved over the past several years, internal auditors have been called on to provide a wide array of services. Yet, management often does not understand the full breadth of the IIA Standards and protocols auditors should follow when performing both Assurance services and Consulting services.

This set of courses on “The Internal Audit Function” was developed by Lynn Fountain, CPA, CGMA, CRMA, MBA, cPIA and past Chief Audit Executive. Lynn authored the book Leading the Internal Audit Function which was released by Taylor & Francis in 2017. In the book she outlines not only the Standards and expectations for internal auditors but the many challenges individuals in the profession face when trying to execute their duties.

Course Series

This course is included in the following series:

8 CoursesThe Internal Audit Function

  1. The Internal Audit Function - Purpose and Establishing the Function (Text Based Course)
  2. The Internal Audit Function - The Attribute Standards (Text Based Course)
  3. The Internal Audit Function - The Performance Standards (Text Based Course)
  4. The Internal Audit Function - Internal Audit’s Assurance Role and Risk Based Auditing (Text Based Course)
  5. The Internal Audit Function - Governance Role (Text Based Course)
  6. The Internal Audit Function - Internal Audit’s Role in Fraud Work (Text Based Course)
  7. The Internal Audit Function - Internal Audit’s Role in Fraud Risk Assessments (Text Based Course)
  8. The Internal Audit Function - Fraud Evaluation vs. Fraud Investigation (Text Based Course)
Learning Objectives
  • Discover and understand How Internal Audit Executes its Assurance Role.
  • Explore and evaluate the concept of Risk Based Internal Auditing.
  • Explore and examine Risk Based Auditing versus Compliance Auditing.
  • Identify and address the Benefits and Challenges of using Internal Audit for SOX compliance.
Last updated/reviewed: August 16, 2023
11 Reviews (64 ratings)


Member's Profile
Good course. It gives a good review of the Internal Audit's Assurance Role and Risk Based Auditing.

Anonymous Author
The objectives of this course were in line with the exam which covered many of the topics needed.

Member's Profile
Very Good summary of Internal Audit and Functions. A perfect concise reference document to cover with staff less familiar with Internal Audit and function.

Member's Profile
THE INTERNAL AUDIT FUNCTION Internal Audit’s Assurance Role and Risk Based Auditing text will make an excellent reference resource.

Anonymous Author
Interesting information regarding risk-based auditing vs. compliance auditing and where the internal audit function fits in.

Anonymous Author
Great information. organized for easy consumption. Recommended as a refresher for basic audit concepts.

Anonymous Author
This is a good course to study Internal Audit’s Assurance Role and Risk Based Auditing.

Anonymous Author
Overall internal audit course set was well coordinated and instructive. Enjoyed it.

Member's Profile
This was a good course, i liked this course. I would recommend this course.

Anonymous Author
This course helped me understand the role of the internal audit function.

Member's Profile
Topic was explained well and the course had valuable content.

Course Complexity: Foundational

No advanced preparation or prerequisites are required 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 .
Instructor for this course
Course Syllabus
  The Internal Audit Function - Internal Audit’s Assurance Role and Risk Based Auditing (Text Based Course)PDF