1. Required Training, education, & certification for internal auditor development
Summary: The professional level builds on and extends the subjects that are covered at
practitioner stage. As well as internal auditing topics, there is coverage of financial and
general management, information systems and a new module dedicated to the topic of
corporate governance and risk management. The advanced internal auditing paper is based
around a case study that is available before the examination date, so reflecting the growing
trend towards more practical work.
Training is an important aspect of developing internal auditors, and has to be carefully
planned in line with a career developmental programme. The year 2002 saw the introduction
of a new syllabus for the IIA. UK & Ireland that sought a wider coverage of the audit world
and related areas
Training & education more necessary for an internal auditors development in specific
requirements, huge number of benefits will be include in internal audit training & education
for development of materials appropriate to an business sector; sensitive information can be
used as real-life
Accounting is the business function of recording and reporting financial information for
internal or external users. Audits are the business function of reviewing accounting
information to determine how well the company adheres to specific guidelines. External
audits are usually conducted by public accounting firms or individual certified public
accountants (CPA). This type of audit is specifically designed for external users of the
company's financial information. Internal audits are usually conducted by the company's
accounting staff for management review.
Internal audit training and development is the process of developing the skills and methods
used by companies to train accounting employees on internal audits. Internal audits test the
internal controls used to protect financial information or to review specific accounting
functions for material weaknesses
Auditors will be trained on why this manual is important and how the auditors should apply
the audit manual standards to the company's accounting information. Internal auditors may
suggest additions to the audit manual once they have conducted an internal audit to improve
the company's internal audit process.
Also internal auditors do not need to hold professional certification or licenses to conduct
internal audits. Internal auditors trained in universal audit practices or developed to audit a
company's accounting information are usually well equipped to conduct internal audits.
Audit training and development program consists of several components:
Like (Education- cross training –job shadowing, certification incentive,-placement, &
challenging curriculum)
IIA overview (Training & education for internal auditor’s development):
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2. As the leading educator for the internal audit profession, The IIA provides two levels of
qualification, the practitioner level (PIIA) and the more advanced Professional level (MIIA).
The professional level builds on and extends the subjects that are covered at practitioner
stage. As well as internal auditing topics, there is coverage of financial and general
management, information systems and a new module dedicated to the topic of corporate
governance and risk management
The IIA. UK &Ireland have developed a certificate in Corporate Governance and Risk
Management. As well as formal qualifications, there is an entire spectrum of developing
people at work that includes:
• Training—programmed for getting people to learn to do things differently.
• Development—untaught activity to increase/improve performance.
• Education—formal courses to develop knowledge and qualifications.
• Learning—acquiring better skills, knowledge and attitudes.
There are various ways that audit staff may be trained and developed
The IIA helps internal auditors reach their full potential and achieve professional success.
So a top quality internal audit training delivered by leading specialist trainers at competitive
prices. A internal auditor to be ensure that he /her get the opportunity to discuss their
personal requirements with the tutor and receive individual attention
Training is part of the managerial process and as such forms only one constituent of the
overall system of human resource management. It cannot be seen in isolation from the other
techniques for developing audit staff. Not all auditors remain in the audit shop for long
periods of time. This ‘short-stay syndrome’ results because organizations view internal audit
as an ideal place to train managers. There are many who do not view internal audit as a
career in its own right and, for example, trainee accountants may wish to return to main line
accountancy after a spell in audit.
This poses a problem in that extensive training is lost on audit staff that will not remain
with the department for long. All staff should be developed and those who may wish
eventually to leave auditing will simply be replaced by other auditors. Vacancies create
scope for internal promotions for auditors who excel via their development programmers.
James C. Key, CIA, - is the principal partner of the Shenandoah Group, a consulting firm
focused on risk management, controls, and governance solutions. Previously, Key served as
the director of internal audit for IBM Corporation, where he oversaw audit operations in
North America and Asia Pacific. He was also responsible for global audit training and
development. Over the course of his career, Key has consulted on risk and audit issues,
conducted training, and facilitated workshops around the world for clients in business,
government, education, and health care. Key is the organizing director for Coastal Banking
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3. Company and organizing director for First National Bank of Virginia, where he also chairs
the audit committee.
New Auditor Training:
The new auditor training lasts 16 hours over two days and covers the new standard, auditing
techniques, and practice exercises with emphasis on auditing based on objectives. This
course focuses on hands-on practice exercises extensively over the two days of training.
This course is available for up to 12 people. The training agenda is below:
Experienced Auditor Training: This course is for experienced auditors to help them
transition to the new standard. The transition course lasts 6 hours and covers the new
standard and auditing practices such as following trails. This course also emphasizes
auditing based on objectives in accordance with the new standard’s emphasis on objectives.
Fewer exercises are performed in this training. Participants should be comfortable with the
auditing process prior to attending. The course allows for up to 12 people and includes all
training materials.
In additional:
Management - strategies, policies and practices. Audit has been designed to provide the
answers to the following questions:
I. Does your organization have the right policies and applied practices to meet your future
business needs?
II. How do you rate against global and local industry talent management benchmarks?
III. What can you do to bridge your Talent Management gaps?
Audit is a systematic review of an organization’s approach to the four key aspects of
Management. It provides an organizational diagnostic and a practical implementation plan for
a business,
Conclusion: The challenge has been set by the corporate governance, risk management and
control dimensions that now drive both the business world and public services. The
definition of internal auditing has been changed to reflect this factor, and audit charters
are being torn up and rewritten to secure this important focus. Everything else that
happens in internal audit flows from the changes, charter and heightened expectations.
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