Developing, Improving & Monitoring the Internal Audit Function

Why Attend

An effective internal audit function provides independent, risk-based assurance that helps organizations strengthen governance, manage risks, and improve internal controls. Achieving this requires more than completing audit engagements. Internal audit leaders must establish a clear mandate, align audit priorities with organizational risks, develop capable audit teams, maintain consistent methodologies, and demonstrate the value of their work to senior management and the board.

The Developing, Improving & Monitoring the Internal Audit Function course provides a structured approach to establishing, managing, evaluating, and continuously improving internal audit activities. Participants examine the Global Internal Audit Standards issued by The Institute of Internal Auditors (IIA), risk-based audit planning, audit methodology development, resource management, performance measurement, quality assurance, stakeholder engagement, and the effective use of audit technology.

The programme emphasizes practical approaches to building a credible internal audit function, improving audit quality, monitoring operational effectiveness, and delivering assurance that supports organizational objectives.

Professional Problems This Course Is Designed to Solve

• Unclear internal audit mandate and responsibilities: Establishing appropriate authority, independence, accountability, reporting relationships, and governance arrangements for the internal audit function.

• Audit plans disconnected from organizational risks: Developing risk-based audit plans that reflect strategic priorities, emerging threats, control weaknesses, and stakeholder expectations.

• Inconsistent audit execution and reporting: Standardizing audit methodologies, documentation, supervision, evidence evaluation, reporting, and follow-up procedures.

• Limited audit resources and specialist capabilities: Improving workforce planning, competency development, technology utilization, and the allocation of audit resources.

• Difficulty measuring internal audit effectiveness: Establishing meaningful performance indicators for audit quality, coverage, efficiency, stakeholder satisfaction, and recommendation implementation.

• Weak quality assurance and improvement processes: Implementing a Quality Assurance and Improvement Program (QAIP) that supports ongoing monitoring, periodic self-assessment, and external quality assessment.

• Insufficient stakeholder confidence in internal audit: Strengthening communication with the board, audit committee, senior management, and other assurance providers while preserving independence and objectivity.

Course Methodology

The programme combines instructor-led discussions, internal audit maturity assessments, governance case studies, risk-based planning exercises, audit methodology workshops, performance measurement activities, and quality assessment simulations. Participants work with practical templates for internal audit charters, strategic plans, audit manuals, competency frameworks, performance dashboards, and quality improvement plans.

Exercises are designed around the responsibilities of chief audit executives, internal audit managers, and professionals involved in developing or improving internal audit functions.

Course Objectives

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

• Evaluate the effectiveness and maturity of an internal audit function

• Understand the requirements of the IIA Global Internal Audit Standards

• Develop an internal audit mandate, charter, strategy, and governance framework

• Establish risk-based audit planning and engagement management processes

• Design consistent audit methodologies, procedures, and documentation requirements

• Improve internal audit resource planning and professional competency development

• Strengthen audit supervision, reporting, and recommendation follow-up

• Develop meaningful internal audit performance indicators and management dashboards

• Establish and maintain an effective Quality Assurance and Improvement Program

• Conduct internal quality assessments and prepare for external quality assessments

• Improve stakeholder communication and demonstrate the value of internal audit

• Develop an actionable internal audit function improvement roadmap

Target Audience

This course is suitable for:

• Chief audit executives and heads of internal audit

• Internal audit directors and managers

• Senior internal auditors and audit supervisors

• Audit committee support professionals

• Governance, risk, and compliance managers

• Internal control and assurance professionals

• Quality assurance professionals within internal audit

• Public sector audit leaders

• Professionals responsible for establishing or restructuring internal audit departments

• Internal auditors preparing for leadership responsibilities

Target Competencies

Participants will develop competencies in:

• Internal audit function management

• Internal audit strategy development

• Audit governance and independence

• Risk-based audit planning

• Audit methodology and quality control

• Internal audit resource management

• Audit performance measurement

• Quality assurance and improvement

• Stakeholder relationship management

• Internal audit continuous improvement