Executing the Internal Audit Engagement in Line with GIAS – Part 1 2 CPE

In January 2024, the IIA released its updated Global Internal Audit Standards. These Standards will replace the IPPF in January 2025. Domain V – Performing Internal Audit Services speaks to requirements to properly execute upon internal audits.

The principles and related standards in this domain are related to:

• Effective engagement planning
• Conducting engagement work
• Communicating during the engagement and developing findings
• Giving recommendations and providing conclusions
• Monitoring action plans

This course is part one in a two-part series on Executing the Internal Audit. In this course we focus on the aspect of Planning the internal audit. This includes aspects of planning the engagement, developing objectives and scope, executing and communicating on the engagement. Although we will refer to the new GIAS standards for guidance in these areas, we will also focus on practical tips to execute these processes.

Part two of Executing the Internal Audit will focus on recommendations and monitoring.

Prerequisites

Learning Objective

• Explore and examine elements of engagement planning, engagement objectives, engagement scope.
• Identify and understand elements of performing the engagement, identifying information, documenting information, engagement supervision.
• Recognize and review methods of communication and monitoring.
• Recognize and consider the requirements of the GIAS in all of these areas.

Last updated/reviewed: September 18, 2024