Internal Audit Overview

This CPE course is included in the 50+ hours of CGMA Strategic Management Accounting. It can also be purchased individually or as a part of Governance and Risk Management.

This CPE course begins with recommendations for internal control an organization’s management and board should consider. It examines the independent and objective values of internal audit, and observes its scope and standards. It investigates internal audit’s structure and independence, and highlights advantanges and disadvantages of outsourcing the internal audit function. It compares internal and external auditing, and identifies the various types of audits. The course then looks at a typical audit process as it would be carried out by the internal auditor to audit an organization’s systems or processes. It also helps auditors ascertain controls they need to implement, and indicates to them whether objectives will be met. The course then discusses types of testing and sampling auditors can perform to ensure that procedures are performed correctly. It finally addresses audit reporting, and the use of computer-assisted audit techniques (CAATs).