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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: November 7, 2019

Included In Certifications

This course is included in the following Certification Programs:

19 CoursesInternal Controls Certification

  1. Management Internal Control Essentials
  2. COSO 2013 Overview
  3. Internal Audit Standards Overview
  4. Internal Audit Standards - Managing Internal Audit Work
  5. Internal Audit Standards - Executing the Audit Engagement
  6. Identifying and Implementing the Proper Balance of Internal Controls
  7. Documentation Methods For Internal Control Processes
  8. Information Technology (IT) Risks in Emerging Business Environments
  9. Foundations for a Strong Internal Audit Department
  10. Internal Audit: Keys to Managing an Effective Function
  11. Internal Audit Effective Relations 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. Professional Skepticism - Keys to Maintaining
  17. Whistleblower Hotlines - Effective Management
  18. Tools for Internal Control Certificate
  19. Lessons of an Auditor- Tools for Internal Control Certificate

19 CoursesINTERNAL CONTROLS CERTIFICATION - THE VIRTUAL LIVE PROGRAM

  1. COSO 2013 Overview
  2. Management Internal Control Essentials
  3. Identifying and Implementing the Proper Balance of Internal Controls
  4. Documentation Methods For Internal Control Processes
  5. Segregation of Duties for Core Business Processes
  6. Professional Skepticism - Keys to Maintaining
  7. Whistleblower Hotlines - Effective Management
  8. Understanding Risk-Based Auditing
  9. Internal Audit Effective Relations with the Audit Committee
  10. Internal Audit Standards Overview
  11. Internal Audit Standards - Managing Internal Audit Work
  12. Internal Audit Standards - Executing the Audit Engagement
  13. Information Technology (IT) Risks in Emerging Business Environments
  14. Foundations for a Strong Internal Audit Department
  15. Internal Audit: Keys to Managing an Effective Function
  16. Risk Based Auditing – Establishing a Methodology
  17. Risk Based Auditing – Applying the Methodology
  18. Tools for Internal Control Certificate
  19. Lessons of an Auditor- Tools for Internal Control Certificate

45 Reviews (142 ratings)Reviews

5
Anonymous Author
Internal Audit Standards Overview was a great foundation course to build on. Thanks.
5
Anonymous Author
The course provides an excellent in depth overview IIA Standards for Internal Auditors, including a dive into the core principles, key definitions, and the mission and/or objective of Internal Audit. In addition, many professional examples are provided to give you a complete understanding of how these standards apply to the workplace.
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
4
Anonymous Author
I liked the way the course was provided with relevant slides and information. The material is more of an introductory level, so it is expected to take a more detailed course to get actual knowledge of the subject.
4
Anonymous Author
I liked this course because it was factual and very to the point. I think that the instructor was very knowledgeable but there was something distracting with the audio when she spoke, but that could be on my end.
5
Anonymous Author
Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part One" does a good job of introducing the Standards and principles and showing how to apply them to each organization.
4
Member's Profile
This is a very good brief review for Standards of IIA. The course also provides many practical challenges against the Standards and alternatives for those challenges which I personally find very useful
5
Anonymous Author
This was a good introduction to Standards for Internal Auditors. It covers quite a bit of information on Internal Audits. The speaker gives good examples to help you understand the information
5
Member's Profile
I enjoyed the discussions of the core principles and the ethics surrounding that subject. I never considered an entity's positioning of the IA to be a risk.
5
Member's Profile
I really enjoy all of Ms. Fountain's classes, her voice is easy to listen to, she provides real-life examples and always keeps my attention.
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
Anonymous Author
The speaker discussed a depth overview IIA Standards Many examples are provided to give you a better understanding of these standards
4
Member's Profile
This was a good refresher of some of the basic concepts that build the foundation of an effective Internal Auditing Team.
5
Member's Profile
Great class
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
5
Anonymous Author
Good educational course for new auditors as well as a good refresher course for experienced auditors.
4
Anonymous Author
Good reminder of elements of the IPPF in easily consumable format. Useful examples also added in.
5
Anonymous Author
This part one course was a very good refresher for me. It was succinct and met the objectives.
5
Anonymous Author
This course was educational and useful for understanding how to apply the Standards for IA
5
Anonymous Author
This course is an excellent review and precursor to any of the ethics courses. I loved it.
4
Member's Profile
Provides a deeper understanding of internal audit principals and ethics rules of conduct
4
Anonymous Author
This course covers applying the standards of the IIA in a organizational environment.
4
Anonymous Author
this course had a lot of excellent material that was very helpful for beginners.
4
Member's Profile
I found this course to be very helpful to learn the ethics of internal auditing.
3
Member's Profile
The information are good organised. The imprortant information are listed.
4
Member's Profile
good course covering the basics.........................................
4
Member's Profile
I found this course somewhat engaging and more examples would be nice.
5
Anonymous Author
The core concepts were well defined and well explained. Recommend.
4
Member's Profile
Another good course in the series of internal control certification.
5
Anonymous Author
Really like having slides I can keep on hand for reference.
5
Member's Profile
interesting subject, well distributed , good instructor
3
Member's Profile
well thought out and acceptable for cpe review purposes
5
Anonymous Author
Good building block course to internal audit demands.
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
This is a good course for introduction to the IIA.
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