Internal Audit Function
Step into the role of an Audit Manager. Master the strategic, operational, and quality-driven aspects of leading a modern internal audit function.
What is the IA Function Module?
The Internal Audit Function module is designed for those transitioning into leadership roles within audit. It bridges the gap between conducting individual audits and managing the entire department, covering critical operational tasks like budgeting, recruitment, and balancing assurance work with value-added advisory roles.
A core focus of this module is the strategic lifecycle: planning the audit function, ensuring quality through rigorous internal and external reviews, and monitoring the impact of findings. You will learn how to communicate effectively with corporate boards and hold management accountable for the resolution of identified risks.
Core Competencies
- •Leadership: Managing budgets, staff, and strategy.
- •Quality: Setting up robust assurance frameworks.
- •Results: Driving management action and verification.
What You Will Study
1. Internal Audit Operations (25%)
Managing departmental budgets and operational costs
Strategic staff recruitment and talent management
Balancing advisory services with traditional assurance roles
Optimizing departmental resource utilization
2. Internal Audit Strategy (15%)
Formulating long-term risk-based strategic plans
Aligning audit objectives with organizational goals
Presenting audit strategy to the corporate board
Dynamic updates to audit plans based on risk changes
3. Quality Assurance (15%)
Establishing internal quality assurance mechanisms
Coordinating external quality assurance reviews
Benchmarking audit performance against professional standards
Continuous improvement of audit processes
4. Results & Monitoring (45%)
Synthesizing and communicating final audit reports
Managing stakeholder engagement and expectations
Verifying implementation of management corrective actions
Tracking long-term resolution of audit findings