Date: 26-27 January 2027 - 2 full day

Timing: 9am – 5pm

Language: English

CPE points: 14

Deadline to register: 22 January 2027

Trainer name: Isabella Arndorfer

Overview

Did you just start working in Internal Audit? Then this course is for you.

This highly practical, 2-day online course provides a step-by-step introduction to Internal Audit, from understanding its purpose and professional foundations through to planning, executing and reporting an audit.

Participants are introduced to the 2024 Global Internal Audit Standards, including the purpose of Internal Auditing, ethics and professionalism, and governing the Internal Audit function.

The course then focuses on what auditors actually do: understanding risks and processes, defining audit objectives and scope, identifying key controls, developing audit procedures and planning effective testing.

Through practical exercises participants learn how to gather and evaluate audit evidence, assess control effectiveness, identify root causes, develop findings and communicate results.

Particular emphasis is placed on practical audit execution, professional judgement, interviewing and dealing with resistance, ensuring that participants leave the course with the confidence and tools to conduct their own audit engagements from planning through to final report and follow-up. 

Who should attend?

• Internal auditors who are new to the profession or have limited practical audit experience
• Professionals transitioning into Internal Audit from Risk Management, Compliance, Finance, Controlling, or other control functions
• Junior and less-experienced auditors seeking a structured understanding of the end-to-end audit process
• Experienced auditors who would benefit from a practical refresher on the fundamentals of Internal Audit
• Audit team members looking to strengthen their practical audit planning, execution, and reporting skills 

Course Agenda

Day 1

Module 1 – Purpose, Role & Professional Foundations of Internal Audit

• What is Internal Audit and what value does it provide?
• Internal Audit versus Risk Management, Compliance and External Audit
• The 2024 Global Internal Audit Standards
• Ethics, integrity and objectivity
• Independence and professional judgement
• Competence and due professional care

Module 2 – Governing the Internal Audit Function

• Role of the Board and Audit Committee
• Internal Audit Charter
• Independence and organisational positioning
• Reporting lines and access
• Internal Audit strategy
• Risk-based audit planning
• Dynamic planning
• Resources and competencies
• Quality and performance expectations

Module 3 – From Risk to Audit: Selecting & Understanding an Engagement

• Understanding the organisation and its objectives
• Identifying and assessing risks
• Defining the audit objective and scope
• Identifying relevant criteria
• Internal Controls Framework (COSO)
• Identifying key controls
• Developing the initial audit approach

Day 2

Module 4 – Planning the Audit Engagement

• Engagement objectives
• Risk and control assessment
• Process mapping
• Developing audit procedures
• Sampling approach
• Data analytics
• Documentation
• Allocation of work and supervision

Module 5 – Executing the Audit: Fieldwork & Testing

• Interviews and inquiry
• Walkthroughs
• Obtaining audit evidence
• Testing controls
• Design effectiveness versus operating effectiveness
• Audit techniques
• Data analysis
• Evaluating exceptions
• Documenting evidence

Module 6 – From Evidence to Audit Findings

• Analysing test results
• Identifying exceptions
• Root-cause analysis
• Assessing significance
• Developing audit findings
• Recommendations and management actions.

Trainer Bio

Isabella Arndorfer (CIA, CCSA, CFSA, Mediator) is an experienced internal audit and governance specialist with more than 20 years of experience in the financial sector.

From 2003 to 2023, she served as Internal Audit Manager in the Internal Audit Departments of the Bank for International Settlements in Basel and the International Monetary Fund in Washington DC.

She lectures on Internal Audit and Governance topics at central bank seminars in Asia and Europe and at the University of St. Gallen in Switzerland.

She holds degrees in business administration and international management and is a Certified Internal Auditor (CIA), Certified Financial Services Auditor (CFSA) and holder of the CCSA designation.

In 2023, she founded CPETrainer and now provides consulting services in Internal Audit, Risk Management, Compliance and Governance.