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The globalization of business, ongoing changes in technology, increased attention of shareholders and stakeholders and the continuing demands of the Audit Committee and senior management require a dynamic framework for managing today's internal audit department.

This session, designed by a past Chief Audit Executive with significant exposure to a multitude of industries and internal audit frameworks, explores the key competencies and responsibilities of today's internal audit management and methods for meeting the requirements of the internal audit profession. We will also discuss some of the greatest challenges of the role and how to address those challenges.

Learning Objectives

  • Explore the role of today's internal audit leadership.
  • Recognize the role of internal audit in corporate governance.
  • Explore how to synergize the internal audit processes with other quality assurance groups.
  • Discover the keys to building effective relationships with management and the audit committee.
  • Discover the keys to staffing and training the audit group.
  • Identify how to develop a resource gap analysis for internal audit.
Last updated/reviewed: September 25, 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

37 Reviews (150 ratings)Reviews

4
Member's Profile
Great information on how to build effective relationships with Management and the AC.
4
Anonymous Author
The course provides a great overview for an effective audit function. The topics covered are helpful even to individuals who do not perform an internal audit function. The speaker is very clear on her lecture and the materials used well summarized the key points.
4
Anonymous Author
This is a fairly comprehensive discussion of the role of internal audit in today's environment. The seasoned instructor has again used her broad professional experience to enhance the presentation.
4
Anonymous Author
I like that the information in this course is very practical. It will be nice if the videos can be broken down into shorter modules like the other courses taught by this instructor.
5
Anonymous Author
This instructor is very good at presenting information in a way that is easy to understand and I also learned new information that I did not know before. This course was well done.
5
Member's Profile
I am not at Managing function, nevertheless, it is interesting just for a member of auditor to understand what are 'keys' to manage an effective internal audit function.
5
Member's Profile
Very knowledgeable on the subject matter. I was surprised by how much I wasn't aware of. I think anyone in external or internal audit would find this content useful.
5
Member's Profile
Lynn hits another one out of the park, with careful explanations of the role of IA and the CAE, as well as the interaction with the AC.
5
Anonymous Author
Well organized. Interjected good examples. All internal audit staff, auditees and CFO should take this course.
5
Member's Profile
Full of good questions and challenges for the CAE, especially new ones like myself. Highly recommended.
5
Anonymous Author
Excellent overview for the new auditor, organization management and new audit committee members.
4
Member's Profile
This course gives a very good perspective of the broad requirements of managing an IA department.
5
Member's Profile
It is clear that the presenter (Ms. Fountain) has great experiences to share.
4
Anonymous Author
Well organized and presented. Easy to understand despite not working in IA.
5
Member's Profile
Great information! Easy to understand and overall meaningful content....
4
Member's Profile
The instructor is extremely well-versed in all aspects of this topic
5
Member's Profile
Requires understanding of the internal audit function...good course
5
Member's Profile
Well explained and carefully designed presentation. Well done!!!
4
Member's Profile
Great review and refresher on the Internal Audit Function.
5
Member's Profile
Very comprehensive and useful perspective on key issues
5
Member's Profile
Very helpful end to end coverage of topic.
3
Anonymous Author
Interesting primer for a non-IA person.
5
Member's Profile
Very practical and well presented.
5
Member's Profile
Good refresher of basic concepts
4
Anonymous Author
a bit basic, but good review.
4
Anonymous Author
It was a very good course
4
Member's Profile
Great Presentation
5
Member's Profile
Met objectives.
4
Anonymous Author
Good review!!
5
Member's Profile
Great course
4
Anonymous Author
Good course
5
Anonymous Author
Thanks
5
Member's Profile
Great!
4
Member's Profile
great!
4
Member's Profile
Good
3
Anonymous Author
1
Anonymous Author
4

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
Roles and Relationships
  46:38Role of Today's IA Leadership
  30:28Building Effective Relationships with MGT and Audit Committee
Essentials of Staffing and Training
  18:05Keys to Staffing and Training IA
Working Together and Conclusion
  10:07The Synergy of IA with Other Processes and Close
Continuous Play
  1:54:53Keys to Managing an Effective Internal Audit Function
SUPPORTING MATERIALS
  PDFSlides Keys to managing an effective Internal Audit Function
  PDFKeys to managing an effective Internal Audit Function Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM