This CPE course is included in the 50+ hours of CGMA Strategic Management Accounting. It can also be purchased individually or as a part of Governance and Risk Management.

This CPE course begins with recommendations for internal control an organization’s management and board should consider. It examines the independent and objective values of internal audit, and observes its scope and standards. It investigates internal audit’s structure and independence, and highlights advantanges and disadvantages of outsourcing the internal audit function. It compares internal and external auditing, and identifies the various types of audits. The course then looks at a typical audit process as it would be carried out by the internal auditor to audit an organization’s systems or processes. It also helps auditors ascertain controls they need to implement, and indicates to them whether objectives will be met. The course then discusses types of testing and sampling auditors can perform to ensure that procedures are performed correctly. It finally addresses audit reporting, and the use of computer-assisted audit techniques (CAATs).

Topics Discussed

• Forms of internal audit: compliance audit, value for money audit/management audit, social and environmental audit.
• Operation of internal audit, the assessment of audit risk and the process of analytical review, including different types of benchmarking, their use and limitations.
• Effective internal audit: independence, staffing and resourcing and organizational remit.
• The preparation and interpretation of the internal audit report.

Learning Objectives

When you complete this course, you will be able to:

• Recognize the role of the internal auditor
• Identify the types of internal audit work (for example, compliance, operational, and systems)
• Recognize the characteristics of effective internal audit.

Who Will Benefit?

• CGMA exam candidates
• Management accountants wanting to develop skills in governance and risk management

DISCOUNTS

CGMA designation holders qualify for additional discounts on this product.

In order to receive your special pricing, you must be registered and signed in. View the complete list of development products available on CGMA.org.