Introduction
How you will benefit
- Demonstrate greater confidence in dealing with senior leaders
- Appraise what it really takes to be an effective internal audit leader
- Explain how to make an effective and valuable contributions at a strategic level and towards overall business success
- Apply practical methods to manage key relationships with the audit committee, senior management and peers
- Add value through efficient and effective internal audit good practices
- Explain key priorities for them and their departments to help maximize their contribution to their organization
Who should attend
Chief audit executives, deputy heads of audit, internal audit managers and senior internal auditors who deal with business leaders and/or lead or manage members of the internal audit team. This course is equally valuable for both in-house and outsourced internal audit teams
What you will cover
Module 1: Internal Audit Leadership
- Effective leadership
- The importance of steady management
- Qualities of an effective internal audit leader
- A reminder of leadership and management theory
- The inspirational internal audit leader
- Large versus small internal audit teams
- The mission statement and definition of internal auditing
- Relevant attribute and performance standards
- Challenges all internal audit leaders face
- Resolving common challenges
Module 2: Effective Internal Audit Planning
- Determining risk maturity
- Designing the risk based assurance universe
- Developing an effective internal audit strategy
- How you develop your universe and strategy
- Coordination with other assurance providers
- Advantages and disadvantages of working with other assurance providers
- Determining the annual or six monthly internal audit plan
- Delivering the plan
- Discussion: Good practice planning
- Internal audit delivery today and building team capability for tomorrow
Module 3: Getting Maximum Impact from our Internal Audit Resources
- Securing the necessary internal audit resources
- Managing internal audit resources
- Dealing with the dispersed team
- Ensuring an effective internal audit engagement process
- Maximizing efficiency
- Managing co-sourcing and contractors
- In-house versus outsourced contractors
- Risk management in the internal audit function
- Risk identification and management for internal audit
Module 4: Stakeholder Relationship Management
- Perceptions of internal audit
- Stakeholder analysis
- Effective stakeholder relations
- Marketing internal audit
- Internal audit’s product mix
- Best practice stakeholder management
- Effective reporting and recommendations
- Conflict management, negotiation and persuasion
- Networking
- Conflict and solutions
Module 5: Insight, Added Value and Quality Assurance
- What is insight
- Delivering insight and impact
- Enhancing and protecting organizational value
- Adding value through assurance and consulting
- The power and perils of advisory work
- The quality assurance and improvement program
- Internal assessments
- External assessments
- Elements of the improvement program