3.0 CPE Part of the continuing series of internal audit best practices, this session will provide insight on the realities of internal audit management roles, and the elements needed to build a strong internal audit department to provide the most value for your company. The world of internal audit has undergone many shifts over the past several years due to the state of the economic and pandemic concerns. However, these impacts must be evaluated in light of concepts outlined in the Internal Audit Standards.
The Institute of Internal Auditors (IIA) has done a tremendous job raising the profile of the auditing profession. As auditors, we strive to abide by the standards and guidelines. But have you ever asked management within your company if they knew such standards existed? Do they truly understand the concepts of risk-based auditing, independence, and obligations to the board or charter requirements? It is surprising how so many of these basic concepts are taken for granted by auditors and that we assume management is aware.
Individuals considering an internal audit management role should understand the challenges as well as benefits that may be presented to them within this role. It is critical that certain elements of the job be well understood by those holding the positions.
This session is designed to step into the reality of the internal audit management role, and discuss some of the concepts that aren’t always openly discussed within organizations--but are important concepts the internal audit manager should ensure they can clarify with management and be prepared to address on the job.
Learning Objectives
- Identify critical components of upholding your internal audit charter.
- Examine the difficulties of the concept of independence and objectivity.
- Explore and understand what management views as risk- based auditing.
- Discover and discuss the concept of agile auditing.
- Explore and evaluate if internal audit can develop the audit plan independently.
- Discover and examine what to do when management says “no”.
Last updated/reviewed: March 11, 2024
Included In Certifications
This course is included in the following Certification Programs:
32 CoursesInternal Controls and Internal Audit Certification
- Internal Audit Standards Overview
- Managing the Internal Audit Function in Line with GIAS - Part 1
- Managing the Internal Audit Function in Line with GIAS – Part 2
- Managing the Internal Audit Function in Line with GIAS – Part 3
- Executing the Internal Audit Engagement in Line with GIAS – Part 1
- Executing the Internal Audit Engagement in Line with GIAS – Part 2
- Identifying and Implementing the Proper Balance of Internal Controls
- Documentation Methods For Internal Control Processes
- Segregation of Duties for Core Business Processes
- Foundations for a Strong Internal Audit Department
- Internal Audit Management - Top Skills
- Internal Audit: Keys to Managing an Effective Function
- Understanding Risk-Based Auditing
- Risk Based Auditing – Establishing a Methodology
- Risk Based Auditing – Applying the Methodology
- Cyber Risk Frameworks And Concepts
- Information Technology (IT) Controls in Emerging Business Environments
- Fraud Risk Assessments
- Professional Skepticism - Keys to Maintaining
- Introduction to Forensic Accounting
- The Fraud Triangle
- Internal Audit Effective Relations with the Audit Committee
- COSO 2013 Overview
- COSO 2013 - Operational Execution
- Internal Audit Emerging Risks for 2021 and Beyond - Part 1
- Internal Audit Emerging Risks for 2021 and Beyond - Part 2
- Internal Audit Emerging Risks for 2021 and Beyond - Part 3
- Internal Audit Emerging Risks for 2021 and Beyond - Part 4
- Internal Audit Challenges During Times of COVID
- Global Internal Audit Standards (GIAS) - Overview and Contrast to 2017 International Professional Practices Framework
- Tools for Internal Control Certificate
- Lessons of an Auditor- Tools for Internal Control Certificate
125 Reviews (577 ratings)
Reviews
Catherine \"Kit\" ..
(Executive Director at Hospice of McDowell County)
A lot of topics were covered that crossed each other in scope, as in real life! Clarity came after multiple review of the topics. Definitely spoke to the challenging task of internal auditing and modifying the audit charter to accommodate a changing environment and company functioning. Gained greater respect for the complexity of creating a company that keeps it "top game".
Hyoe Nakagiri
(Internal Auditor Chasing New Opportuniti.. at Independent)
The instructor asks critical questions that every CAE ought to be able to answer and takes the participant through the thought process in a way that models how a CAE would use his/her mind.
I would consider this mandatory material for every new CAE - I am in my second year as a CAE and wish I took this course before I signed up!
Gerald Miller
(VP at International Bridge Consulting LLC`)
Likes – It is a very well-organized course which works well for self-study.
It provides a very comprehensive review of Internal Audit. The organizational view is realistic and very helpful.
Opportunities for improvement – Develop better examples and have more “case study” content.
Keith Johnson
(Director SOX Compliance at Waterjet Holdings)
Lynn hit another one "out of the park" with this course. These are the real meaty issues that IA managers, directors and CAEs have to face, and this course provides a lot of discussion, consideration and helpful thoughts on how to face the real problem areas that all auditors face.
Lawrence Hirsch
(Controller at Builders design)
It is always a delight to spend an hour or two with Lynn. She is an effective communicator with a wealth of knowledge and practical advise. Her explanations are clear, concise and supported with case study and historical experience and perspective.
Anonymous
()
I liked that the videos could be watched either individually as you have time or as one segment. Individuals with minimal experience will get the basics from this course. I plan on referencing the information as I move forward in my position.
Anonymous
(Accounting Manager)
The course has an in depth discussion on the importance of having an effective internal audit management. It also provides real-situation samples and advice on how to handle issues commonly encountered by an Internal audit management.
Anonymous
(Senior Associate)
Excellent course covering the basis of a strong internal audit function. It really focused on internal audit as defined by the IIA which is something I'm not sure many focus on. Great real-life experience was highlighted as well.
Anonymous
(Snr Accounting Consultant, CPA)
Wow! I really got to appreciate the difficult and importable role that the internal audit team plays in an organization. I can now see how those technical and soft skills play such a big role in shaping this department.
Brian Fleischer
( at NYC School Construction Authority)
This spoke to a lot of issues that I've been thinking about since joining my organization as CAE two years ago. It's helpful as I think about persuading the organization (not publicly traded) to embrace best practices.
Anonymous
(Auditor)
I believe that new IA management would get the most out of this course. If offers a lot of detail of what the charter should consist of and how to deal with reporting to the Audit Committee as well as Management.
Anonymous
(SFA)
Another excellent course from Lynn. She is an effective communicator with a wealth of knowledge and practical advise. All explanations are clear and supported with case study and real life examples..
Halina Kovel
(Sr Revenue Accountant at Yelp)
The course is helpful and interesting, but the slides could have been organized and laid out differently to provide a concise and useful review material rather than posing open-ended questions.
Christine Matthes
(- at None)
This course provides a comprehensive discussion of the various critical elements of the internal audit function within the business organization. The material is well-presented and engaging.
Anonymous
(Assurance Specialist)
The instructor does a good job in summarizing the purpose of the Internal Audit charter, risk based audit approach and other foundations for a strengthened internal audit function.
Katherine Hart
(None at Not Applicable)
Really helpful, it was so reassuring to know that management pushes on other IA and accountants. I now know that I'm not alone! The instructor had some great insight and advice.
Anonymous
(Assistant Internal Audit Manager)
The course provides an overview and comprehensive knowledge of internal audit department. Furthermore, it also provides practical examples of effective internal audit function
Anonymous
(Regulatory Reporting Quality Assurance A..)
Excellent information on best practices and the challenges an internal audit manager, CAE or audit staff could (or will) encounter, when being part of an internal audit team.
Cristina Palacios
(Senior Internal Auditor at CommunityBank of Texas)
Great presentation of the Internal Audit function responsibilities. Presentation provided very good guidance on how to use risk based auditing throughout the audits.
Jennifer Welch
(AVP Internal Auditor III at Community Bank of Texas)
This course was helpful for in understanding the value of foundations for a strong internal audit department and the significance of management understanding.
Anonymous
(Director)
This a very comprehensive presentation. The topics covered are very interesting and the speaker is very good on relating the topics to real life issues.
Sharon King
(Contractor at Self employed)
I liked the course because I completed it and the exam at my own pace. IA managers and IA executives would benefit the most from this course.
Anonymous
(Auditor)
The course delivers a very interesting introduction into the world of the audit department and what makes a strong internal audit department.
Behrooz Sadigh
(Critical Path Consulting Corporation at Senior Management Consultant - CellSaver..)
Outstanding course. I thank Proformative and Ms. Fountain for making this course available. A must for all IAs regardless of level.
Janis Balodis
( at European University Institute)
Always was excating to learn a lot of things from Ms Fomtain course, It was useful and parctical to be involved in to tnhe course.
Zane Long
(Internal Audit Director at Mylan)
Having the video in the upper corner of the screen - while a small thing - helps the overall flow - not just a voice and a slide.
Anonymous
(Director)
Good to see the concept of Agile Audit being discussed, need to ensure IA today includes risks and isn't rigid in their approach.
john mahlstedt
(Internal Audit Consultant at ConnectSearch LLC)
Great overview; I like how an addition of Agile Auditing was incorporated. Great reference PDF as a refresher for all CIA's.
Anonymous
(Senior Internal Auditor)
Great course to listen in and pretty much gives an idea on how to maintain a sustainable and strong internal audit department.
Angelic Jones
( at School District of Philadelphia)
It was a well though out. Well verse class. I am very familiar with the course material but it was still presented reasonably.
Maria Natalia Figueira Marku..
(Internal Auditor at Mmc)
Very good course, with up to date and relevant information on the Internal Audit function and the new proposed IIA Standards.
Anonymous
()
Tough covering many topics, the presenter succeeds to provide a logical transition. Practical examples. Clear presentation.
Thomas Hayes
(Clinical Associate Professor at University of Arkansas)
Well organized course. I'm surprised at how much I still need to know about IA. Anyone teaching auditing would benefit.
Lilian Dendrinos
(consultant at DLC Group)
Very helpful overview of the internal audit function and their its duties, reporting responsibilities and governing body.
Course was very comprehensive. I think some more specific examples would be helpful to illustrate some of the concepts.
Anonymous
(IT Advisory Snr. Associate)
This is a refresher course and interesting as well. Nothing surprised me. Every beginner will learn from this training.
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
Nicely done. Very effective presentation on the foundations of IA. I would recommend easily to anyone interested.
Anonymous
(Accounting Manager)
Overall a good course, but a bit repetitive from earlier lessons. The RBA and Audit plan portions were helpful.
S Marie Vernon
(- at --)
This instructor always gives a very detailed explanation of the course she is teaching. I learn a lot from her.
Mercedes Maldonado
(Chief Strategist at Meveau)
This course aligns with the current trends in internal auditing. I was pleased with the lecturer's viewpoints.
Anonymous
(NA)
COurse provides a good foundation for those understanding the objectivity required to perform IA effectively
Dorota Wiacek-Trojanowska
(Supplier Audit and Risk Manager at Roche sp. z o.o.)
I recommend this course to every one WHO wants to gry better understanding od the IA departament structures.
Georgios Baltos
( at EUI)
I would like to tell, that I was so excited of the course quality, that I would like take this course again.
Anonymous
(Internal Audit)
I love how easy this instructor is to listen to and it is helpful that she truly understands internal audit.
Kamran Jafri
(Senior Accountant at Influitive)
Helps out a great deal in my current role, while not very high level -- it provides a great starting point.
Hicham Jawhar
(Financial controller at Basement Systems Quebec)
Great course because it relates the theory of IA activity to reality and the challenges of this activity.
Raveendran Madappattu
View Instructor Profile
Well organized and crafted course and its contents; beneficial to most internal auditors. kudos to Lynn.
Anonymous
()
Great course for any level of auditor, but especially for those earlier in their internal audit career.
Anonymous
(VP)
this was a very good course. thank you very much! THis really explained IA and the foundations of IA.
Michael Ward
(Head of Global Internal Audit at Mylan)
This was a good refresher on the importance of an Internal Audit charter and the required components.
Anonymous
()
This webinar is helpful in understanding the annual audit that we go through in our company. Thanks.
Anonymous
(Tax Accountant)
Great course on the internal audit function. I found the information to be very helpful and useful.
Anonymous
(Financial Analyst)
Made me reflect back to the cpa exam review material. Did a thorough job of presenting the material.
RICARDO CAMPOLINA DE TOLEDO
( at WPP)
It is an interesting training for beginners and for those interested in the Internal Audit field.
Anonymous
(Regional Director)
Lots of high-level points. Course would be more interesting if more specific examples are added
Anonymous
(Senior Associate IA)
I think the instructor does a great job explaining the information and providing good examples.
Anonymous
(Blogger)
The facilitator was extremely well-spoken and explained each concept with depth and clarity.
Anonymous
()
Good high level explanation of the Internal Audit department in the organization foundation.
Anonymous
(CRO)
Generally a good training session with real life examples that help to explain the concepts.
Anonymous
(CFO)
I like how it shows separation and collaberation of the internal audit group and management
Anonymous
(Auditor II)
Lynn Fountain courses always provide adequate coverage of all information over the topic.
Jeff Nelson
( at A.O. Smith Corp.)
Another clear concise and to the point presentation. Well laid out and engaging slides.
Anonymous
(Internal Audit)
Very good course for beginner level internal auditors and audit committee members.
Corey Masters
(Accountant, Internal Auditor, Risk Speci.. at Self)
A good consideration for someone contemplating entering internal audit management.
Anonymous
(Director of Internal Audit)
Decent overview. Probably most appropriate for Staff and Senior level auditors.
Anonymous
(Director, Compliance and Insurance)
Very clear synopsis; this is good material for exec management to hear as well.
Anonymous
(Auditor)
Ms. Lynn Fountain is a great teacher who is great and explaining complex topics.
Anonymous
(Manager Internal Audit)
I thought the course was informative and appropriate for the targeted audience.
Anonymous
(Consultant - Process Specialist)
The speaker provides great insight on the strong internal audit considerations
Kevin Murray
(Business Partner - Strategic Projects at The Wesson Group)
Excellent overview of what should be expected for and from an IA department.
Anonymous
(Head of Internal Audit)
A useful reminder of standards and reconciliation of standards vs real life.
Anonymous
(Controller)
Very pointed and informative presentation on the topic, very well prepared.
Sophia Kasozi
(- at City of Edmonton)
Great refresher for the foundations of a strong internal audit function.
Anonymous
()
Good information for someone entering into the Internal Audit function.
Kirit Kapadia
( at Kirit KapadiaCPA)
Nice description about the role of internal auditor in the organization
Anthony Larson
(Sr. Institutional Fixed Income Trader at Charles Schwab & Co)
Great review of the principles of internal auditing. Great instructor
James Gately
(CPA at Self-employed)
Management may get a better understanding of the position of the CAE.
Anonymous
(-)
Good to hear the internal audit perspective, as an external auditor.
Niketa Patel
(Oracle Financials Analyst at N/A)
Internal auditors play an important and vital role within a company!
Anonymous
(Supervisor, Program Analyst)
good class and I would recommend to all who desire of becoming an IA
Anonymous
(Technical Accountant)
Good insite overall on IA function but lacks the practical example
Anonymous
()
Great course of foundations of a strong Internal Audit department.
Nikita Patel
(Consultant at DLC Group)
Excellent content. Content was very relevant and easy to follow.
Ginger Witte
(Director Internal Audit at Protective Insurance)
great overview of the foundations necessary for an IA department
Anonymous
(Senior Consultant )
Helpful background on requirements around Internal Audit teams.
Charles Elwis
(Insurance Broker at Health Guys)
This is a cursory review of the functions of internal auditing
Anonymous
(Director RAAS Maritime)
I liked The part relating to RBA and "when Management says no"
Anonymous
(Certified Management Accountant; CMA)
An interesting and challenging short course.
Thank you!
Sylvia Ratliff
(internal audit consultant at self employed)
Very good presentation with some thought-provoking insights
Anonymous
(Financial Services Professional)
Thanks for the course. Well presented and well explained.
Anonymous
(Accountant)
Good speaker. Obviously very knowledgeable on the topic.
Paul Valigura
(CFO at Mid West New Mexico CAP)
Materials were good and supported the areas adequately.
Anonymous
(Associate with Two Degrees)
Thorough and clear presentation of the concepts!
Derek Williams
(Audit Director at Louisiana Workforce Commission)
All information was relevant with good examples.
Anonymous
(Vice President of Finance )
Great overview with really organized slides
Matt Osmundsen
(Category Finance Director at Energizer Holdings, Inc.)
Great course! Very informative and helpful.
Tania Roberts
(Revenue Accountant at OEConnection, LLC)
This was a really relevant course. Thanks.
Prasanna Thiruvenkatachari
(Partner at Shree Accounting LLC)
A must review for Internal audit staff.
Christina Leighton
(Director of Internal Audit at Reynolds Group Holdings Limited)
Staff and senior internal auditors.
Anonymous
(Director of Accounting and Finance)
Good internal audit knowledge builder
Simon Adell
(Chief Financial Officer at Undisclosed)
Nice overview of a very boring topic.
Anonymous
(-)
Good considerations and information
Anonymous
(CPA, CFE, CGMA)
Great overview of internal audit.
Siva Vinay
(Controller at Park n Fly)
very well summarized audit plan.
Anonymous
(SOX Project Manager)
Very clear and concise class.
Robert Godfrey
(CPA at Robert Godfrey, CPA)
Good overview and perspective
Anonymous
(President)
Nice presentation of content.
Craig Ward, CPA
(Chief Financial Officer at Geigerrig)
Good Review and presentation.
Anonymous
(Accountant)
Good refresher course for IA!
Anonymous
(Senior Internal Auditor)
Good overview of IA function.
David Newton
(Associate Director - Corporate Assurance at Starwood Hotels & Resorts Worldwide,..)
Great intro to IA department
XUDONG HOOTEN
(Accountant at Sunset Accounting Solutions)
Complete and practical guide
Anonymous
(-)
It was a very good course
Anonymous
(Vice President Finance EMEA & ASIA P..)
Good content - a bit lomg
Anonymous
()
nice refresher course
William Peden
(Finance at RHMR)
Very good overview
Anonymous
(Director of Finance)
Good information!
Peter Abader
(- at BMO)
Easy and quick
Anonymous
(Self Employed )
Good course
Carlinton Clarke
(- at Duca)
N0 comments
Anonymous
()
Good Course
Anonymous
(Manager- Accounting & Finance)
Excellent
Anonymous
(-)
Good info
Vahé Hovakimian
(Financial Analyst at Great Place to Work Institute)
great!
Patrenia McAbee
(Owner at McAbee Consulting)
Good
Prerequisites
Course Complexity: Intermediate
No Advanced Preparation or Prerequisites are needed for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Lynn FountainCPA, CGMA, CRMA, MBA, cPIA, Consultant, Author, Trainer
About Illumeo
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Contact Us
- Email: info@illumeo.com
- Phone: 408-400-3993
- Adress: 1608 W Campbell
- Av #221, Campbell, CA 95008
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