2 CPE Segment One and Two of this series covered important aspects internal auditors should be aware of in relation to the Institute of Internal Auditors (IIA) Attribute Standards and the elements of the Performance Standards that related to managing the internal audit function and the nature of work for internal audit. The final elements of the Performance Standards provide internal auditors with a relevant framework to properly execute engagements. It is critical internal auditors have an understanding of the various aspects of the audit and the framework outlined by the IIA.
Although the Standards do provide specific templates on the elements that should be evaluated in each stage of the audit, they provide critical guidance on requirements internal auditors should consider during the various phases. Understanding and following this guidance will ensure audit engagements are executed consistently and effectively. This segment is designed to delve deeper into the Performance Standards as they relate to conducting internal audit projects. This includes:
- Engagement Planning
- Performing the Engagement
- Communicating Results
- Monitoring Progress
- Communicating the Acceptance of risks
Learning Objectives
- Explore elements of planning the audit engagement.
- Identify methods for appropriately executing the audit engagement.
- Identify methods of communicating results to management and the board.
- Discover the requirements for monitoring audit issues.
- Recognize methods for communicating the acceptance of risk.
Last updated/reviewed: March 20, 2024
Included In Certifications
This course is included in the following Certification Programs:
29 CoursesInternal Controls and Internal Audit Certification
- Internal Audit Standards Overview
- Internal Audit Standards - Managing Internal Audit Work
- Internal Audit Standards - Executing the Audit Engagement
- Identifying and Implementing the Proper Balance of Internal Controls
- Documentation Methods For Internal Control Processes
- Segregation of Duties for Core Business Processes
- Foundations for a Strong Internal Audit Department
- Internal Audit Management - Top Skills
- Internal Audit: Keys to Managing an Effective Function
- Understanding Risk-Based Auditing
- Risk Based Auditing – Establishing a Methodology
- Risk Based Auditing – Applying the Methodology
- Cyber Risk Frameworks And Concepts
- Information Technology (IT) Controls in Emerging Business Environments
- Fraud Risk Assessments
- Professional Skepticism - Keys to Maintaining
- Introduction to Forensic Accounting
- The Fraud Triangle
- Internal Audit Effective Relations with the Audit Committee
- COSO 2013 Overview
- COSO 2013 - Operational Execution
- Internal Audit Emerging Risks for 2021 and Beyond - Part 1
- Internal Audit Emerging Risks for 2021 and Beyond - Part 2
- Internal Audit Emerging Risks for 2021 and Beyond - Part 3
- Internal Audit Emerging Risks for 2021 and Beyond - Part 4
- Internal Audit Challenges During Times of COVID
- Global Internal Audit Standards (GIAS) - Overview and Contrast to 2017 International Professional Practices Framework
- Tools for Internal Control Certificate
- Lessons of an Auditor- Tools for Internal Control Certificate
63 Reviews (252 ratings)
Reviews
Anonymous
(Senior Auditor)
The course provides a detailed overview of the key components of an internal audit engagement. The components that comprise the engagement process are reviewed in order, including audit planning, objectives, scope, resources, work program, work papers, and effectively communicating and reporting the results.
I recommend this course to those looking to obtain a general grasp on all of the elements that make up the auditing process with some included guidance and tips along the way.
Anton Chornyi
(CIA at FAG)
Clearly and accessibly stated!
Anonymous
(VP, WFM and BusTech)
\An excellent overview of executing the audit engagement, particularly as it relates to planning, identifying scope and communicating results within the organization. Lynn's presentations are always relevant and engaging, and her supporting materials are clear, concise, and easy to follow along. Great overview reiterating the many key concepts in the IA engagement phase.
Anonymous
(SFA)
I really enjoyed this module. If finally transitioned from pure theory to some aspects which can actually be applicable to real life and are very useful. The way the material was presented is, as usual from Lynn, just outstanding and of a of a highest quality. Professionals who are making their way in to IA will find it very interesting and useful.
Anonymous
(Auditor)
Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part Three: Executing the Audit Engagement is a fulfilling conclusion to the three part course addressing the concept of applying the standards to your own organization. It goes into great depth on how to develop and implement an audit program.
Natalia Lippold
(Certified Payroll Professional at Trivantus, Inc.)
Although I don't perform audits in my daily work, I find it very helpful to occasionally review the material and stay familiar with the concepts and processes. Lynn makes this very easy to follow with excellent examples and clear wording. Thank you!
Anonymous
(Senior Data and Reporting Analyst)
Concise nature of the course was appreciated. Once again, the pragmatic advice over dogmatic viewpoints make this a course that I can reference in making sure that I am compliant during my company's engagements.
Anonymous
()
This was a good wrap up of the three part course. It was a good foundation of internal audit and the steps involved in the process. This instructor is always clear and has a well developed course.
Natalie Henderson
(Internal Auditor at WCF Insurance)
I am preparing for my CIA exam test Part II. This course was very specific when applying the IIA Standards to audits. It gives very detailed information on performing the engagement.
Anonymous
(Assistant Internal Audit Manager)
This course provides broaden, useful and practical information on how to perform internal audit engagements. Very easy to understand for all level of internal auditors.
Cristina Palacios
(Senior Internal Auditor at CommunityBank of Texas)
Course provides detailed information on how to apply the IIA Standard requirements during the planning, execution and reporting of the audit projects.
Anonymous
(Auditor I)
This course was very helpful. She gave great examples that were easy to follow. The information covered was well presented and easy to understand.
Anonymous
()
Well organized and delivered. As always, the presenter used relevant examples. The supporting materials made it easy to follow the course.
Anonymous
(Auditor)
This course three parts have useful information, which gives a basic understanding and tips for the steps when performing internal audits.
Christopher Hole
(Director of Internal Audit at Roseburg Forest Products)
Nice overview for those less familiar with audit practices. Plenty of good "real-life" examples included to help illustrate the concepts.
Anonymous
(Consultant - Process Specialist)
The speaker discussed a depth overview IIA Standards Many examples are provided to give you a better understanding of these standards
Anonymous
(internal auditor)
Спасибо за курс с подробными объяснениями. Очень полезный материал
Ahmed Saeed
( at Surgi-Tech)
Wonderful course for developing and executing the audit engagements in light of the Institute of Internal Auditors (IIA).
Anonymous
(Consultant)
I especially liked the hierarchy of types of evidence as it speaks to reliance on any one test/conclusion explanation.
Anonymous
()
Information was helpful and easy to follow. Material was thorough in its coverage of audit engagement requirements.
john mahlstedt
(Internal Audit Consultant at ConnectSearch LLC)
Good course as usual from this presenter. Great refresh for CIA's and lays great ground-work for a new auditor.
Anonymous
(Director)
Good overview for the audit work program and how to go about planning an internal audit. Refresher for everyone.
Mercedes Maldonado
(Chief Strategist at Meveau)
This is another good foundations course. Staff auditors should definitely tune in to solidify their knowledge.
Carolyn Bowlby
(PRogram Analyst/Auditor at VA - U.S. Department of Veterans Affairs)
I really enjoyed this one, it seemed to apply and to and clarify the process and day to day audit engagements.
Anonymous
(Internal Auditor)
This is a good refresher covering the execution of audit engagements in line with internal audit standards.
Marci Earnest
(Accounting Manager at Transtron America, Inc.)
There were some mis-spellings and grammar errors in the materials, little distracting. Content was good.
Anonymous
(VP of Payoll)
I enjoy all of the trainings from this trainer. She is very good at what she does and her content is great.
Anonymous
(IT Advisory Snr. Associate)
I enjoyed the training as a refresher course. Nothing surprised me. Beginners will gain a lot from this.
Anonymous
()
course content and delivery was of high quality. integration of risk appetite elements was interesting
Adel Nazeer Ahmed
(Senior Manager - Internal Audit at Gulf Bank)
Good refresher webinar on executing an audit engagement. well structured material and easy to follow.
Anonymous
(Senior Internal Auditor)
It was good to again have a good overview of what is required when planning for an audit engagement
Anonymous
(-)
Another well-presented course on this topic, filled with insight based on actual work experience.
Sarah Anchecta
(ACM Accountant at Houton Methodist)
The course is very well put together. The explinations are clear and the examples are helpful!
Anonymous
(Senior Associate IA)
I think the instructor does a great job explaining the information and providing good examples.
This last part of the series really gives great guidelines for executing an internal audit.
Anonymous
(CPA, CFE, CGMA)
Very informative in clarifying the IAA standards applicable to executing IA engagements.
Jeff Martin
(Internal Audit - Manager at Dovenmuehle Mortgage Inc)
Content of the course is presented well, and the supporting documentation is relevant.
Anonymous
(Head of Internal Audit)
good topic for internal auditors to review and test their knowledge of audit process.
Charles Browder
(Auditor I at Simmons Bank)
I specifically liked covering the importance of work papers, as it was very helpful.
Ibrahim Khalil
(Accountant at Axians IT Busniess Solutions GmbH)
Fully understandable course, I think that it is a good start with Internal Audit.
Anonymous
()
Internal Audit Standards - Executing the Audit Engagement is an excellent course.
Corey Masters
(Accountant, Internal Auditor, Risk Speci.. at Self)
I thought this was helpful to tie in the audit program with internal controls.
Anonymous
(Manager of Audit)
Very useful, and practical information applicable to executing IA engagements.
Anonymous
(Auditor)
This was a great class on internal audit standards by Lynn Fountain. Thanks.
Anonymous
()
Really good course for novices and a great review for experienced auditors.
Erika Iben
( at Cast and Crew Payroll)
Another well written course from Lynn Fountain. I enjoy all her classes.
Judith Poli
(Payroll Manager at Odyssey Systems Consulting)
Great teacher, very clear objectives, good examples, very detailed slides.
Anonymous
()
I am very happy to take the course , really very informative and useful
Anonymous
(Auditor)
Informative course. Covered all aspects of the Internal Audit process.
Anonymous
()
i like lynn well done thanks for taking time. good course. best, igor
Anonymous
(Senior Payroll Specialist)
Good information for audit planning and areas to include and analyze.
Matthew Truex
(Senior Auditor at Berkshire Bank)
Just an FYI, at the top of the Exit conference slide, it says exist.
Anonymous
(-)
Good overall course, with high level explanations of the steps.
Jennifer Pawliw
( at Firley, Moran, Freer & Eassa)
good content, easy to follow, presenter was clear and concise
Jennifer Pawliw
(Staff Auditor 1 at Berkshire Bank)
easy to follow, good information, clear and concise delivery
Jim Woolwine
(Sr. Director of Finance and Administrati.. at The Gerontological Society of America)
Liked viewing the instructor delivering the presentation.
Mike Stemm
(General Director - Audit at Union Pacific Railroad Company)
Course provides the content as described in the outline.
Youlanda Williams
(Program Analyst at VA - U.S. Department of Veterans Affairs)
great course!!! Lynn is one of my favorite instructors!
Sophia Kasozi
(- at City of Edmonton)
Excellent summary of executing an auditing project.
Anonymous
(Manager, Internal Audit)
Very useful, and practical information!
Tania Roberts
(Revenue Accountant at OEConnection, LLC)
Another very thorough course.
Michael OConnor
(Retired at Retired)
Very informative course
James Gately
(CPA at Self-employed)
Great Presentation
Prerequisites
Course Complexity: Advanced
Completion of the following two courses: The Institute of Internal Auditor Standards Part One and Part Two
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
.
Lynn FountainCPA, CGMA, CRMA, MBA, Consultant, Author, Trainer
About Illumeo
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