Fundamentals of Internal Auditing

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Classroom sessions
Online sessions

Course Introduction

This Fundamentals of Internal Auditing training course provides a complete foundation in internal auditing aligned with the International Professional Practices Framework (IPPF). It equips participants with the essential tools, methodologies, and practical skills needed to perform internal audit activities effectively. The course also emphasizes real-world applications and best practices across various industries.

Over the course of 5 days, learners will gain updated knowledge of corporate governance, risk management, and internal auditing techniques. The course highlights how these functions interrelate and contribute to stronger organizational control, transparency, and performance. Participants will understand how internal auditing supports better governance and risk oversight.

During the training, learners will explore key areas such as Corporate Governance, Enterprise Risk Management, Risk-Based Auditing, and Risk-Based Compliance. The course focuses on integrating governance functions and improving collaboration between internal audit, risk management, and compliance. It aims to strengthen governance frameworks while improving organizational alignment and operational efficiency.

This COPEX training course will feature:

  • Governance fundamentals: benefits, challenges, and principles of effective governance
  • Transition to risk-based internal auditing and risk-based compliance
  • Risk appetite, tolerance, and integrating risk into audit planning
  • Managing the relationship between internal audit, risk management, and compliance
  • Aligning internal audit activities with organizational mission, vision, and values

Objectives

By the end of this Fundamentals of Internal Auditing training course, participants will be able to:

  • Build a strong foundation of internal audit knowledge and apply it in real work situations
  • Perform audit assignments with confidence and deliver professional audit reports
  • Evaluate the control environment and governance processes during audit engagements
  • Apply advanced risk-based internal auditing techniques to improve audit effectiveness
  • Improve internal audit performance and accountability while strengthening collaboration with compliance teams
  • Understand key governance concepts and apply them to reduce financial risks and achieve organizational goals

Training Methodology

This COPEX training course uses proven adult learning techniques to ensure participants gain maximum understanding and retention. The course combines practical and interactive learning methods to help participants apply the concepts immediately in their work environment.

Participants will engage in group discussions, case studies, presentations, and team-based exercises. The course also includes real-life case examples shared by the instructor, reflecting actual internal audit and governance experiences. The training uses a variety of methods such as brainstorming, lecturing, group interaction, and knowledge sharing to cater to different learning styles.

The training approach encourages active participation and practical learning. Participants will learn not only the theory but also the hands-on application of internal auditing, risk management, and compliance concepts. This methodology ensures participants leave with actionable skills and a clear understanding of how to implement effective internal audit practices.

Who Should Attend?

This internal audit training course is designed for professionals involved in internal auditing, risk management, compliance, and corporate governance functions. It is suitable for individuals seeking to strengthen their audit knowledge and develop a strong foundation in internal control and governance practices.

This course is ideal for a wide range of professionals, especially those working in control and governance environments. It is particularly beneficial for:

  • Audit Managers
  • Risk Managers
  • Compliance Officers
  • Operational Risk Managers
  • Internal Control Middle Management
  • Governance Department Managers and Officers
  • CFOs

Course Outline

Day 1: Internal Audit in the Context of Corporate Governance

  • Corporate Governance; Definition, Concept, Rules, Principles
  • What are the obstacles and barriers to implement effective governance?
  • The Risk, Compliance & Internal Audit Triangle
  • Role of Audit Committee in checking audit notes (internal/external) among Board’s important committees’ roles and responsibilities
  • Using internal and external audit standards to audit Governance activities
  • Key components, practices and activities to audit processes and relations by which corporations are controlled and governed

Day 2: Fundamentals and Basics of Audit; Evolution of Auditing towards Risk-Based Auditing

  • Definition and objectives of internal audit with understanding of Internal Audit Methodology
  • Auditors Tools, Techniques, roles and responsibilities
  • Report results of the audit via Field Memorandum
  • The transition from system-based to risk-based internal auditing
  • Risk-Based Audit Approach and Risk-Based Audit Methodology
  • How and why audit units move into risk-based audit programs

Day 3: Preparing and Executing a Successful Risk-Based Audit Plan

  • Developing risk-based audit plan
  • Preparation of a clear plan to be approved by Audit Committee
  • Efficiency in the non-recurrence of Audit Notes
  • Identification and classification of audit risk
  • Writing Audit Report; how to impress reader and how to address challenges
  • How to structure effective audit report

Day 4: Relationship Between Internal Audit & Risk Management

  • Fundamental Concepts of Enterprise Risk Management
  • Identifying different types of Risk Taxonomies
  • Risk Control Self-Assessment (RCSA)
  • What is operational risk management framework?
  • Definition and objectives of internal controls; roles and responsibilities
  • Latest trend in Auditing: Auditing the Control Environment

Day 5: The Evolution of Compliance Towards Risk-Based Compliance

  • What is risk-based Compliance?
  • What are the roles and responsibilities of the Compliance Head?
  • International Standards for Anti-Money Laundering / Combatting Terrorism Financing (AML/CTF)
  • Money Laundering Threats and Methods
  • Terrorist Financing Threats and Methods
  • International Case Study: HSBC in USA and Mexico - Case Study on Money Laundering Threats and Methods

Certificate

  • COPEX Certificate of Attendance will be provided to delegates who attend and complete the course

Material published by Copex shown here is copyrighted. All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

Whats Makes Copex Courses Unique?

COPEX Training is your gateway to professional growth, with over 20 years of experience turning potential into success. Each year, we deliver over 1,000 courses in 50+ countries, earning a stellar 98% satisfaction rate. Trusted by global giants like BP, the United Nations, and HSBC, we partner with top certification bodies to provide career-focused training that empowers individuals and drives organizational breakthroughs. Our mission? To transform the way professionals learn and grow in today’s fast-changing industries. Through expert insights, cutting-edge methods, and hands-on approaches, we equip you with the skills and confidence to tackle challenges, seize opportunities, and thrive in your career.

Led by a passionate leadership team and supported by a network of world-class trainers, COPEX Training connects professionals worldwide with life-changing opportunities. We are committed to excellence, ensuring every participant leaves with the tools, expertise, and confidence to conquer an ever-evolving world.

Related Categories

Finance & Accounting
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Our cancellation policy varies depending on the circumstances presented. Generally, cancellations must be initiated in formal writing at least 14 days prior to the commencement date of the training course. Further, the option to shift an existing registration to another training course on a later date is possible. Otherwise, a full refund will be initiated.

Our training courses courses are being held at five-star hotels in prime and iconic destinations across the globe. Cities such as Amsterdam, Barcelona, Dubai, Geneva, Istanbul, Kuala Lumpur, London, Houston, New York, Paris, Vienna, Zurich, etc.

Our training courses will run for 5 hours per day. The standard daily timing is from 8:30 am – 3:30 pm including the coffee/tea breaks and lunch.

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  • Bank transfer
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Published training course fees are inclusive of the training venue, training manual, writing materials, lunch and coffee breaks with refreshments over the entire duration of the training course.

Upon successful registration, processing window will take not more than 24 hours from the time of registration. An email including the registration confirmation, invoice and joining instructions will be sent to the provided email address.

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