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.

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.

This text base course will be provided in 6 sections, the first of which is the Course on Internal Audits Purpose and Establishing the Function.

There will be specific courses on the Internal Audit Assurance and Performance Standards as well as courses that discuss the Internal Audit Code of Ethics, role in Risk Management and Governance and Managing the function.

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
  • Explore the history and definition of the Institute of Internal Auditors and internal auditing.
  • Explore the challenges in meeting the requirements of the definition of internal auditing.
  • Identify how to establish the internal audit function and explore the concepts of the internal audit charter.
  • Explore the types of internal audit staff sourcing models.
Last updated/reviewed: August 9, 2023
10 Reviews (40 ratings)


Anonymous Author
This course displays some of the challenges internal audit functions face in real life corporate environments, which gives a more practical taste to this course.

Member's Profile
This has been a great review of the Internal Audit function. Many topics were discussed and brought memories of when I was an internal auditor.

Anonymous Author
This course is a good overview of the internal audit function, the history of IA, and the benefits of it in an organization.

Anonymous Author
Great overview on establishing the internal audit function. Gives great insight on the purpose of internal audit.

Anonymous Author
Good overview of the internal audit function purpose, history, challenges and interpreting auditing standards.

Anonymous Author
It is a useful text based course for recap the purpose and establishing the Internal Audit Function.

Anonymous Author
This is a great course on the history of internal audit and establishing the function.

Anonymous Author
Good overview of the framework and chief duties, with commentary at a helpful level.

Anonymous Author
Great resource for understanding the requirements to establish the IA Function.

Anonymous Author
good explanation of internal audit and insourcing and outsourcing

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 - Purpose and Establishing the Function (Text Based Course)PDF