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Essentials of Internal Audit AL Mawred Speciality Training

Essentials of Internal Audit

Why Attend

As defined by the Institute of Internal Auditors, "Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes."

Changes in the regulatory and corporate governance environment have significantly increased the expectations that many stakeholders place on the internal audit function. 'Essentials of Internal Audit' guides internal auditors through the required standards for performing the internal audit. It covers up-to-date tips and tools to accomplish the audit in an efficient, flexible, and results-based manner in order to support the organization's strategic objectives, improve its sustainability and leverage its ability to face future challenges

AL Mawred Speciality Training
Overview
Course Methodology

The course uses a mix of interactive techniques, such as brief presentations by the consultant, case studies, live demonstration of sampling methodologies and group exercises to apply the knowledge acquired throughout the course.

Course Objectives

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

  • Define internal audit, its scope and function within the company
  • List the internal audit standards constituting the framework of the internal audit activity
  • Distinguish the types of internal audit assignments related to operational, compliance or financial internal audit
  • Describe the internal audit fieldwork guidelines and apply techniques for risk identification, controls identification and controls testing
  • Select the appropriate internal audit test tools and list the advantages and disadvantages of each
  • Identify best sampling techniques in an internal audit assignment in terms of sample size or sample selection
  • Recognize fraud and express internal auditor’s responsibility upon fraud detection
Target Audience

Delegates with some experience in auditing, junior auditors or professionals from finance or other departments looking to develop a focused and best practices approach and techniques to the internal audit function, and supervisors and managers who are interested in updating, upgrading, and refreshing their knowledge in internal audit.

Target Competencies
  • Risk based audit planning
  • Evaluating an internal audit function
  • Risks identification
  • Identifying and designing controls
  • Sampling
  • Fraud assessment
Course Outline

  • Risk and internal audit overview

    • Definition of risk
    • Types of risk in an organization
    • Functions of management: planning, organizing, implementing and controlling
    • Defining internal audit
    • Internal audit as a function of corporate governance
    • Scope and building blocks of corporate governance
    • Reasons to have an internal audit function
    • Distinguishing internal from external auditing
    • Scope of internal auditing: the internal audit charter
    • Staffing the internal audit function
    • Role of audit committee
  • Internal audit standards
    • Attribute standards
    • Performance standards
  • Types of internal auditing
    • Performance auditing
    • Operational auditing
    • Financial auditing: accounting cycles audited by the internal audit function
    • Compliance auditing
    • 20 questions directors should ask about the internal audit function
  • Internal audit implementation: fieldwork guidelines
    • Information gathered by internal auditors
      • 4 qualities of information
      • Sources and nature of information
      • Assessing the degree of persuasiveness
    • Types of engagement procedures
      • 15 internal audit test tools
      • Observation
      • Interviewing: a disliked technique
        • Interviewing skills: how to run a successful interview
        • Role play: internal auditor in action
      • Examining records
        • Verification and confirmations
        • ​Vouching and tracing
        • Re-performing
    • Internal audit working papers
      • Best practices for managing working papers
      • Retention policies
    • Communicating fieldwork results and recommendations
      • Legal considerations for communicating results
      • 4 attributes of an observation or recommendation
      • Disseminating results and exit meetings
  • The fieldwork: risk-based auditing
    • Defining management assertions
    • Risk assessment process
      • Reason for risk based audit planning
      • Evaluating risks
      • Techniques to identify the auditable units
        • Criteria for selecting auditable units
        • Scoring and weighing risks
      • Prioritizing risk and developing audit plan
      • Methods to generate list of risks
    • Identifying entity level controls to mitigate risks
      • Broad definition for types of controls
      • Essential components of effective internal control system: 'COSO' model
      • Criteria for unsatisfactory rating for control components
      • Methods to generate list of controls
        • Insights on flowcharting for understanding cycles and controls
    • Testing of internal controls
      • Design and implementation of an internal control
      • Operating effectiveness of an internal control
    • Tips and tools for audit sampling
  • Fraud
    • Definition and characteristics of fraud
    • Internal auditor’s role in a fraud case
Mawred Certificate
Mawred Certifications
Al mawred Professional Certificate (Mawred Certificate)

Mawred Certificate courses by Al mawred Training & Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an Mawred Certificate course and successfully complete the test on the last day, will receive a Al mawred Professional Certificate (Mawred Certificate), in addition to the one they receive for full attendance. Mawred Certificate certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

List of Certified Courses
Schedule & Fees

2026 Schedule & Fees

Location & Date
31 May - 4 Jun, 2026
Dubai
Arabic
Venue to be assigned
Fees
Per participant

USD 5750

Fees + VAT as applicable

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

Al mawred reserves the right to alter dates, content, venue, trainer, and to offer courses in an integrated virtual learning (IVL) format whereby face to face classroom participants and virtual learners participate simultaneously in the same course in an interactive learning experience.

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