*** Internal Audit Engagement:

 

Session-01: Section A &C. Engagement Planning, Supervision and Communication (60%).

• Determine engagement objectives and scope.
• Determine evaluation criteria based on relevant information gathered.
• Plan the engagement to assess key risks and controls.
• Determine the appropriate approach for an engagement.

Session-02: Section A &C. Engagement Planning, Supervision and Communication (N/A).

• Complete a detailed risk assessment of each activity under review.
• Determine engagement procedures and prepare the engagement work program.
• Determine the level of resources and skills needed for the engagement
• Apply appropriate supervision throughout the engagement.
• Apply appropriate communication with stakeholders throughout the engagement.

Session-03: Section B. Information Gathering, Analysis, and Evaluation (40%).

• Identify sources of information to support engagement objectives and procedures.
• Evaluate the relevance, sufficiency, and reliability of evidence gathered to support
  engagement objectives.
• Evaluate technology options that internal auditors may use to develop and support
  engagement findings and conclusions.
• Apply appropriate analytical approaches and process mapping techniques.
• Apply analytical review techniques.

Session-04: Section B. Information Gathering, Analysis, and Evaluation (N/A).

• Determine whether there is a difference between evaluation criteria and existing
  conditions and evaluate the significance of each finding.
• Prepare work papers, including relevant information to support conclusions and
  engagement results.
• Summarize and develop engagement conclusions.
• Apply appropriate supervision throughout the engagement.
• Apply appropriate communication with stakeholders throughout the engagement.

 

*** Internal Audit Function:

 

Session-05: Section A. Internal Audit Operations (25%).

• Describe methodologies for the planning, organizing, directing, and monitoring of
  internal audit operations.
• Describe key activities for managing financial, human, and IT resources within the
  internal audit function.
• Describe the key elements required to align internal audit strategy to stakeholder
  expectations.
• Recognize the chief audit executive’s responsibilities for building relationships and
  communicating with senior management and the board about various matters.

Session-06: Section B & C. Internal Audit Plan and Quality of the Internal Audit Function (30%).

• Identify sources of potential engagements.
• Describe the processes to develop a risk-based audit plan.
• Recognize the importance for internal auditors to coordinate with other assurance
  providers and leverage their work.
• Describe the required elements of the quality assurance and improvement program.
• Identify appropriate disclosure of nonconformance with The IIA’s Global Internal
  Audit Standards.
• Recognize practical methods for establishing internal audit key performance
  indicators or scorecard metrics that the chief audit executive communicates to senior
  management and the board.

Session-07: Section D. Engagement Results and Monitoring (45%).

• Recognize attributes of effective engagement results communication.
• Demonstrate effective communication of engagement results.
• Determine whether to develop recommendations, request action plans from
  management, or collaborate with management to agree on actions.
• Describe the engagement closing communication and reporting process.

Session-08: Section D. Engagement Results and Monitoring (N/A).

• Describe the chief audit executive’s responsibility for assessing residual risk for the
  engagement.
• Describe the process for communicating risk acceptance (when management has
  accepted a level of risk that may be unacceptable to the organization).
• Describe the process for monitoring and confirming the implementation of
  management action plans.
• Describe the escalation process if management has not adequately implemented an
  action plan.