Internal Audit Planning and Execution

RATIONALE
The role of internal audit has shifted dramatically from a “corporate policeman” to a “strategic business partner.” In a world of increasing risks—from cyber threats to regulatory volatility—traditional tick-box auditing is no longer sufficient. Effective internal audit planning and execution are now about protecting organizational value and providing the foresight that boards and management need to make informed decisions.

However, many audit functions still struggle with outdated methodologies that focus on low-risk areas while critical threats go unchecked. A poorly planned audit wastes resources and alienates auditees. To be relevant, auditors must adopt a risk-based approach that aligns assurance activities with the organization’s strategic objectives.

This training programme provides the blueprint for a modern, value-adding audit function. It equips participants with the skills to design risk-based audit plans, execute fieldwork with precision, and report findings in a way that compels management to act.

OVERALL OBJECTIVES By the end of the programme, participants will be able to:

• Develop a risk-based internal audit planning framework.

• Identify and assess key risks within the “Audit Universe.”

• Execute audit fieldwork using effective sampling and testing techniques.

• Evaluate the design and operating effectiveness of internal controls.

• Write high-impact audit reports that drive corrective action.

• Manage the audit client relationship effectively.

COURSE CONTENT

Day One: The Modern Internal Audit Function

• Moving from Compliance to Risk-Based Auditing

• The IPPF Standards and Code of Ethics

• Defining the Audit Universe: What should we audit?

• Aligning audit objectives with business strategy

• The concept of “Assurance” vs. “Consulting” services

Day Two: Risk Assessment and Audit Planning

• Methodologies for risk identification and scoring

• Developing the Annual Audit Plan

• Planning individual engagements: Scope and Objectives

• Resource allocation and budgeting for the audit

• Conducting the opening conference with management

Day Three: Fieldwork and Execution

• Documenting internal controls: Flowcharts and narratives

• Testing controls: Design vs. Operating Effectiveness

• Audit sampling techniques: Statistical vs. Judgmental

• Gathering and documenting sufficient audit evidence (Working Papers)

• Use of Computer-Assisted Audit Techniques (CAATs)

Day Four: Reporting and Communication

• The art of writing persuasive audit reports

• Structuring findings: Criteria, Condition, Cause, Effect, and Recommendation

• Root Cause Analysis: Fixing the problem, not just the symptom

• Managing the closing conference and validating findings

• Dealing with management pushback and disagreements

Day Five: Quality Assurance and Follow-Up

• Monitoring the implementation of audit recommendations

• The audit follow-up process and issue tracking

• Quality Assurance and Improvement Program (QAIP)

• Measuring audit performance: KPIs and stakeholder feedback

• Emerging trends: Agile Auditing and Continuous Monitoring

METHODOLOGY The training will be delivered using interactive and practice-oriented learning approaches, including:

• Expert-led presentations on internal audit planning

• Risk assessment workshops

• Audit report writing clinics

• Role-play scenarios (Auditor vs. Auditee)

• Case studies of audit failures

TARGET AUDIENCE This programme is suitable for:

• Heads of Internal Audit and Audit Managers

• Internal Auditors and Inspectors

• Risk Managers and Compliance Officers

• External Auditors moving to Internal Audit

• Audit Committee Members

MODE OF ASSESSMENT Participants will be assessed through:

• Developing a risk-based audit plan

• Drafting an audit finding/report

• Analyzing a control failure case study

• Certificates of participation will be issued upon successful completion.

FEES Training fees are charged per participant and are inclusive of:

• Training materials

• Resource documentation

• Certificate of participation

• Refreshments (where applicable)

• Detailed fee structure available upon request.

VENUE The programme can be delivered at:

• AYU GLOBAL–approved training centres

• Client-designated venues

• Virtual or hybrid platforms, where applicable

DATE To be scheduled in consultation with participating organizations.

DURATION Five (5) Days

CAPABILITY STATEMENT AYU GLOBAL INTERNATIONAL is a leading management and capacity development consulting firm with expertise in:

• Internal audit planning and transformation

• Enterprise Risk Management (ERM)

• Corporate Governance and Controls

• Institutional capacity building

• Strategic leadership and project management

The firm has successfully delivered training and advisory services to government institutions, regulatory agencies, private sector organizations, and development partners.

FACULTY / RESOURCE PERSONS The programme will be facilitated by seasoned professionals with expertise in:

• Certified Internal Audit (CIA/CISA) standards

• Forensic Accounting and Fraud Examination

• Risk Management (CRMA)

• Corporate Governance

• Information Systems Auditing

CONCLUSION An effective audit function is the conscience of the organization. This programme transforms auditors from checklists monitors into trusted advisors. By mastering internal audit planning and execution, your team will not only protect the organization’s assets but also illuminate the path to operational excellence. AYU GLOBAL INTERNATIONAL is committed to elevating the standard of assurance in your institution.