Internal Audit from the Risk Perspective

Course details

The course is designed to enable participants to define new internal audit & internal control new trends, important role of internal audit department in the banking system, as well as preparing internal audit plan & internal audit reports in compliance with risk assessment approach.

Course Description:

The course is designed to enable participants to define new internal audit & internal control new trends, important role of internal audit department in the banking system, as well as preparing internal audit plan & internal audit reports in compliance with risk assessment approach.

Course Objectives:

• List the new trends of internal audit as well as the role of internal audit in banks
• Explain the general framework of internal control system according to Basel
• Identify the standards of internal audit in banks
• Explain the different types of banking risks and how to mitigate them
• Develop internal audit plan and internal audit report in compliance with risk assessment approach

Course Outline:

Module 1: The Concept and Importance of Internal Audit

• The concept of internal audit
• The general framework of internal audit system
• Types of internal audit

Module 2: General Framework of Internal Control System According to Basel

• The concept of internal control
• Principles of internal control
• Role and objectives of internal control
• The difference between internal audit and internal control

Module 3: Internal Audit Standards

• Internal audit standards
• Complying with the internal audit standards during planning and executing the internal audit process as well as during internal audit preparation

Module 4: Banking Risks

• Credit, operational, reputation, and money laundering risks
• How to mitigate banking risks
• Internal audit methodology for prioritizing risk

Module 5: Develop Internal Control Plan and Reports According to Risk Assessment

• How to develop risk-based internal audit plan
• How to develop risk-based internal audit report

Assessment Strategy:

Participants will be assessed formally through an end of training course test.