Cambridge
Academy
In London

Introduction:

This course will focus on the challenges and opportunities internal audit leaders face and show you how you can make a contribution at a strategic level, clearly adding value and also enhancing productivity in the audit process. This training will help you improve your awareness and skills and help you become a better internal audit leader. 

Course Objectives

By the end of this course, participants will be able to:

·        Express greater confidence while interacting with senior leaders.

·        know what it takes to lead an internal audit team successfully, grasp how to contribute strategically and successfully, and how to drive corporate success overall.

·        Understand the purpose of your internal audit function and how it fits into the "assurance jigsaw," as this will have an impact on your major leadership priorities. 

·        Utilize realistic strategies to control important interactions with the audit committee, senior management, and peers.

·        By using effective internal auditing practices, you can add value.

·        learn how to effectively manage your important connections with the audit committee, top management, and peers. 

·        have a clear understanding of what it truly means to provide insight and create value, as well as good practices in relation to your team’s efficiency and productivity

Target Audience

This course is designed for:

·        Internal audit management

·        Improvement and innovation

·        Internal audit delivery

·        Persuasion and collaboration

·        Governance, risk and control enhancement

Course Outlines

Day 1: Internal Audit Leadership

·        The importance of steady management

·        Effective leadership

·        A reminder of leadership and management theory

·        The inspirational internal audit leader

·        Qualities of an effective internal audit leader

·        Large versus small internal audit teams

·        The mission statement and definition of internal auditing

·        Relevant attribute and performance standards

·        Challenges all internal audit leaders face

·        Resolving common challenges

Day 2: Effective Internal Audit Planning

·        Determining risk maturity

·        Designing the risk-based assurance universe

·        How you develop your universe and strategy

·        Coordination with other assurance providers

·        Developing an effective internal audit strategy

·        Determining the annual or six-monthly internal audit plan

·        Delivering the plan

·        Advantages and disadvantages of working with other assurance providers

·        Good practice planning

·        Internal audit delivery today and building team capability for tomorrow

Day 3: Getting Maximum Impact from our Internal Audit Resources

·        Securing the necessary internal audit resources

·        Managing internal audit resources

·        Dealing with the dispersed team

·        Ensuring an effective internal audit engagement process

·        Maximizing efficiency

·        Managing co-sourcing and contractors

·        In-house versus outsourced contractors

·        Risk management in the internal audit function

·        Risk identification and management for internal audit

Day 4: Stakeholder Relationship Management

·        Perceptions of internal audit

·        Stakeholder analysis

·        Effective stakeholder relations

·        Marketing internal audit

·        Internal audit’s product mix

·        Best practice stakeholder management

·        Effective reporting and recommendations

·        Conflict management, negotiation and persuasion

·        Networking

·        Conflict and solutions

Day 5: Insight, Added Value and Quality Assurance

·        What is insight

·        Delivering insight and impact

·        Enhancing and protecting organizational value

·        Adding value through assurance and consulting

·        The power and perils of advisory work

·        The quality assurance and improvement program

·        Internal assessments

·        External assessments