Introduction to Internal Audit Standards and the IPPF

 

Overview of Internal Audit

• Definition and purpose of internal audit
• Key differences between internal and external audit
• Role and responsibilities of internal auditors

 

Introduction to the International Professional Practices Framework (IPPF)

• Overview of IPPF
• Components of the IPPF:
  • Definition of Internal Auditing
  • Code of Ethics
  • International Standards for the Professional Practice of Internal Auditing
  • Implementation Guidance
  • Supplemental Guidance

 

Global Internal Audit Standards

• Detailed review of the Global Internal Audit Standards
• Key principles and requirements
• Comparison between internal and external audit standards
• Implications of standards for internal audit practice

 

Understanding ADAA Resolution 89 of 2021

• Overview of ADAA Resolution 89
• Key provisions and requirements
• How it aligns with or differs from IPPF standards

Communicating Findings and Establishing Action Plans

 

Communicating Audit Findings and Conclusions

• Best practices for drafting audit reports
• Structuring findings and conclusions effectively
• Writing clear and actionable recommendations

 

Dissemination of Results

• Techniques for presenting audit results to different stakeholders
• Managing communication with senior management and the board
• Addressing sensitive or high-impact findings

 

Establishing Action Plans

• Developing actionable and realistic action plans
• Setting priorities and timelines
• Assigning responsibilities and resources

 

Monitoring and Follow-Up

• Techniques for monitoring the implementation of action plans
• Methods for tracking progress and ensuring accountability
• Reporting on the status of action plans and follow-up activities

 

Workshop: Drafting and Presenting an Audit Report

Compliance with IPPF and ADAA Standards

 

Adapting Internal Audit Practices to IPPF Standards

• Aligning internal audit practices with IPPF requirements
• Updating internal audit methodologies and documentation
• Conducting internal assessments and quality reviews

 

Documenting Compliance with ADAA Resolution 89

• Revising documentation practices to meet ADAA requirements
• Ensuring consistency with both IPPF and ADAA standards
• Best practices for maintaining compliance records

 

Case Study: Implementing New Standards

• Real-world examples of adopting new standards
• Lessons learned from compliance challenges
• Best practices for overcoming implementation obstacles

 

Integration and Future Trends

 

Integrating Standards into Internal Audit Function

• Strategies for embedding new standards into daily operations
• Training and development for internal audit staff
• Creating a culture of continuous improvement

Future Trends in Internal Auditing

• Emerging trends and technologies in internal auditing
• Impact of global changes on internal audit practices
• Preparing for future updates to standards and regulations

 

Developing a Compliance Roadmap

• Building a roadmap for ongoing compliance and quality improvement
• Setting milestones and performance indicators
• Engaging with stakeholders and fostering collaboration