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Internal Audit Fundamentals & Risk-Based Auditing Training Course

Builds the skills to plan and perform risk-based internal audits under the Global Internal Audit Standards and deliver assurance that adds real value.

RCA · Internal Audit & Internal ControlsAll Levels#2408ClassroomEnglish , Arabic
Duration
5 Days
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Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Course Overview

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.

Learning Objectives

  • Analyze the purpose, mandate, and value of internal audit in governance, risk management, and control on Day 1.
  • Apply the principles of the Global Internal Audit Standards, including independence, objectivity, ethics, and professional competence.
  • Explain the Three Lines Model and the relationships among internal audit, the board, the audit committee, management, and other assurance providers.
  • Apply internal control and enterprise risk management frameworks to evaluate control environments.
  • Build an audit universe and perform risk assessments to prioritize audit coverage.
  • Develop a risk-based annual audit plan aligned with organizational objectives and key risks.
  • Plan audit engagements using risk and control matrices, scope definitions, and audit programs.
  • Perform fieldwork using interviews, walkthroughs, and tests of control design and operating effectiveness.
  • Apply audit sampling, data analytics, and fraud awareness techniques during fieldwork.
  • Document evidence in working papers and develop findings with criteria, condition, cause, effect, and recommendations.
  • Write clear, concise audit reports, communicate results effectively, and follow up on agreed actions.
  • Apply quality assurance and improvement programs and evaluate agile auditing, continuous auditing, and AI in internal audit by the end of Day 5.

Who Should Attend

This course is designed for new and developing internal auditors, audit seniors and supervisors, and professionals transitioning into internal audit roles. It is also relevant for risk management, compliance, and internal control professionals, finance and operations managers who work with auditors, audit committee members seeking a practical understanding of internal audit, and external auditors moving into internal audit. It is particularly valuable for professionals in ministries, government entities, public authorities, and audit bureaus, banks, insurance companies, and financial institutions, oil and gas, energy, and utility companies, healthcare systems and universities, and private companies and family businesses establishing or strengthening internal audit functions.

Learning Outcomes

  • Explain how internal audit adds value to their organization.
  • Apply professional standards, independence, and ethics in audit work.
  • Understand how internal audit fits within governance and the Three Lines Model.
  • Evaluate controls using recognized frameworks.
  • Assess risks to decide where audit effort should focus.
  • Prepare a risk-based annual audit plan.
  • Plan audit engagements with clear scope and audit programs.
  • Test controls effectively and collect sufficient evidence.
  • Use sampling and data analytics and stay alert to fraud indicators.
  • Write well-supported findings and practical recommendations.
  • Produce clear audit reports and follow up on actions.
  • Contribute to audit quality and modern audit practices.

Course Outline

Course Outline:

Day 1

Internal Audit Foundations and Governance

  • Purpose, mandate, and value of internal audit
  • The Global Internal Audit Standards: independence, objectivity, ethics, and competence
  • The audit charter and relationships with the board, audit committee, and management
  • The Three Lines Model and other assurance providers
  • Practical application: participants assess an internal audit charter and governance arrangements for a case study organization
Day 2

Risk, Control, and Risk-Based Audit Planning

  • Governance, risk management, and internal control frameworks
  • Building the audit universe
  • Risk assessment and prioritization of audit coverage
  • Risk-based annual audit planning and resourcing
  • Practical application: participants build an audit universe, assess risks, and prepare a risk-based annual audit plan
Day 3

Engagement Planning and Fieldwork

  • Engagement planning, objectives, and scope
  • Risk and control matrices and audit programs
  • Interviews, walkthroughs, and tests of control design and operating effectiveness
  • Audit sampling and data analytics
  • Practical application: participants develop a risk and control matrix and audit program and perform control testing on case data
Day 4

Evidence, Fraud Awareness, and Findings

  • Audit evidence and working paper standards
  • Fraud risk indicators and auditor responsibilities
  • Developing findings: criteria, condition, cause, effect, and recommendations
  • Rating findings and agreeing management actions
  • Practical application: participants develop audit findings from fieldwork results and practice audit interviews
Day 5

Reporting, Follow-Up, Quality, and Modern Practices

  • Writing clear and concise audit reports
  • Communicating results to management and the audit committee
  • Follow-up of agreed actions and quality assurance and improvement programs
  • Agile auditing, continuous auditing, and AI in internal audit
  • Final workshop: participants write an audit report for a case study engagement and present key results

Upcoming Dates

Selected date

Singapore · 1 – 5 Feb 2027 · Classroom

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CityDatesPrice per ParticipantEarly Bird
MadinahScheduled
2 – 6 Nov 2026€4,200—
LondonScheduled
2 – 6 Nov 2026€5,600—
Cape TownScheduled
2 – 6 Nov 2026€5,100—
MadridScheduled
9 – 13 Nov 2026€5,400—
MakkahScheduled
16 – 20 Nov 2026€4,200—
DammamScheduled
22 – 26 Nov 2026€4,200€3,780until 2 Nov
ManamaScheduled
23 – 27 Nov 2026€4,700€4,230until 2 Nov
MarrakeshScheduled
30 Nov – 4 Dec 2026€4,300€3,870until 9 Nov
MilanScheduled
7 – 11 Dec 2026€6,000€5,400until 16 Nov
GenevaScheduled
7 – 11 Dec 2026€6,300€5,670until 16 Nov
MunichScheduled
14 – 18 Dec 2026€5,400€4,860until 23 Nov
MuscatScheduled
21 – 25 Dec 2026€5,300€4,770until 30 Nov
OnlineScheduled
27 – 31 Dec 2026€1,700€1,530until 7 Dec
IstanbulScheduled
28 Dec 2026 – 1 Jan 2027€4,700€4,230until 7 Dec
ParisScheduled
28 Dec 2026 – 1 Jan 2027€5,700€5,130until 7 Dec
RabatScheduled
4 – 8 Jan 2027€4,300€3,870until 14 Dec
RiyadhScheduled
11 – 15 Jan 2027€4,200€3,780until 21 Dec
JeddahScheduled
17 – 21 Jan 2027€4,200€3,780until 28 Dec
RomeScheduled
18 – 22 Jan 2027€5,800€5,220until 28 Dec
SalalahScheduled
25 – 29 Jan 2027€5,300€4,770until 4 Jan
SingaporeScheduled
1 – 5 Feb 2027€6,700€6,030until 11 Jan
ViennaScheduled
8 – 12 Feb 2027€5,700€5,130until 18 Jan
TunisiaScheduled
8 – 12 Feb 2027€3,800€3,420until 18 Jan
KigaliScheduled
8 – 12 Feb 2027€5,100€4,590until 18 Jan
AmmanScheduled
14 – 18 Feb 2027€3,100€2,790until 25 Jan
Kuala LumpurScheduled
22 – 26 Feb 2027€4,400€3,960until 1 Feb
AmsterdamScheduled
22 – 26 Feb 2027€5,400€4,860until 1 Feb
BakuScheduled
1 – 5 Mar 2027€4,800€4,320until 8 Feb
BarcelonaScheduled
8 – 12 Mar 2027€5,400€4,860until 15 Feb
LisbonScheduled
15 – 19 Mar 2027€5,400€4,860until 22 Feb

Available in: Istanbul · Dubai · London · Riyadh · Doha · Amsterdam

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