This session will identify and define risk and internal control concepts including an activity to re-enforce the concepts. The session will conclude with a high-level overview of the Internal Audit Process including relevant terminology to help prepare attendees for engaging with an internal audit function.
What You’ll Learn
- Internal Audit Profession
- Definition of Internal Audit
- Evolving Role of Internal Audit
- New 2024 Global Internal Audit Standards
- Difference between Internal Audit and External (Financial Statement) Audit
- FFIEC Interagency Policy Statement on the Internal Audit and Function and Co-Sourcing
- Maintaining FDICIA and SOX Compliance
- Risk and Internal Control Concepts
- Risk Identification and Mitigation Concepts
- Types of Internal Controls
- Cost/Benefit and Reasonable Assurance of Internal Controls
- The Internal Audit Process and Terminology
- Risk Assessment
- Internal Audit Planning
- Internal Audit Performance
- Internal Audit Findings and Reporting
Who Should Attend
Bank professionals seeking knowledge of internal audit and/or internal controls, including internal auditors, deposit and operations personnel, accountants, management, and individuals with previous internal audit education seeking a refresher course.