Internal Audit Fundamentals & Risk-Based Auditing Training Course

The Internal Audit Fundamentals & Risk-Based Auditing Training Course equips internal auditors, audit supervisors, and risk and control professionals with the knowledge and practical skills needed to plan and perform internal audits that focus on what matters most to the organization and deliver credible, value-adding assurance and advice. Internal audit plays a vital role in strengthening governance, risk management, and control in government entities, ministries, public authorities, banks, energy and utility companies, healthcare systems, and corporations. Audit functions that rely on rotational checklists and compliance testing alone often miss emerging risks, while risk-based auditing aligns audit effort with organizational objectives and key risks, improving the relevance and impact of audit work. The course covers internal auditing from foundations to risk-based execution, informed by the Global Internal Audit Standards, the Three Lines Model, and widely used internal control and enterprise risk management frameworks. Participants learn the purpose and mandate of internal audit, independence, objectivity, and ethics, the audit charter, and the relationship with the board, audit committee, and management, as well as governance, risk management, and internal control concepts. The program then addresses building the audit universe, risk assessment and risk-based annual audit planning, engagement planning using risk and control matrices, and fieldwork techniques, including interviews, walkthroughs, tests of control design and operating effectiveness, sampling, data analytics, and fraud awareness. Participants also examine evidence and working paper standards, developing findings with criteria, condition, cause, effect, and recommendations, writing clear audit reports, communicating results, follow-up of agreed actions, quality assurance and improvement programs, and emerging practices such as agile auditing, continuous auditing, and the use of AI in internal audit. The course is delivered through practical audit case studies, risk assessment and audit planning workshops, control testing and sampling exercises, finding and report writing practice, and audit interview role plays. Participants leave with an audit universe and risk assessment template, a risk-based annual audit plan template, a risk and control matrix and audit program template, a finding development and report writing guide, and an audit follow-up tracker.