Course Overview

The field of internal auditing is undergoing significant transformation with the 2024 updates to the International Professional Practices Framework (IPPF) and the introduction of the Global Internal Audit Standards (GIAS). These developments are essential for audit professionals seeking to strengthen governance, improve risk management practices, and maintain compliance with evolving professional expectations.

This course provides a comprehensive exploration of the updated IPPF framework and the new Global Internal Audit Standards, focusing on both their conceptual foundations and practical application across different organisational environments. Participants will gain a clear understanding of the structure, principles, and requirements of the revised standards and how they enhance the effectiveness, credibility, and integrity of internal audit functions.

Through interactive discussions, practical examples, and real-world case studies, participants will examine the major revisions and enhancements introduced within the 2024 standards. The course also highlights the impact of these changes on governance frameworks, risk management systems, internal controls, and organisational compliance activities.

The programme is designed to strengthen participants’ ability to apply the updated standards confidently within their day-to-day audit activities and organisational practices. By engaging with industry examples and professional insights, participants will be better prepared to navigate the changing internal audit landscape and respond effectively to contemporary audit challenges.

By the end of the course, participants will have developed a deeper understanding of the 2024 IPPF and GIAS frameworks and will be equipped with the practical knowledge and skills required to implement these standards effectively within their organisations while contributing to stronger governance and organisational performance.

Agenda

Day — 1 Introduction to IPPF and GIAS

• Defining the International Professional Practices Framework (IPPF) and understanding its purpose within the internal auditing profession
• Discussing the evolution of the IPPF framework and its role in standardising internal audit practices globally
• Recognising the key updates and revisions introduced within the 2024 IPPF framework
• Defining the Global Internal Audit Standards (GIAS) and understanding their objectives, scope, and importance
• Exploring the structure, components, and key principles of the Global Internal Audit Standards (GIAS)
• Understanding the role, responsibilities, and value of internal audit functions within organisations

Day — 2 Principles of Internal Auditing and Mandatory Guidance in IPPF

• Understanding the fundamental principles and core concepts of internal auditing
• Exploring the application of internal auditing practices across different organisational and operational environments
• Recognising the importance of aligning internal audit activities with organisational goals, strategies, and governance objectives
• Understanding the IPPF standards, including:
  • Attribute Standards
  • Performance Standards
• Examining the role and significance of the official definition of internal auditing within professional practice
• Discussing the consequences, risks, and organisational implications of non-compliance with internal auditing standards and professional requirements

Day — 3 Governance, Risk and Control

• Understanding the relationship between governance, risk management, and internal control systems within organisations
• Identifying the role of internal audit in supporting and strengthening corporate governance practices
• Understanding governance structures and the key processes involved in organisational risk management
• Exploring internal control frameworks and the characteristics of effective internal control systems
• Applying tools and techniques used to assess the effectiveness of governance, risk management, and control systems
• Recognising the role of internal auditors in oversight, governance assurance, and risk management activities

Day — 4 Audit Planning and Execution

• Outlining the key phases of audit planning in accordance with IPPF guidelines and professional auditing standards
• Discussing the major factors and considerations involved in planning an effective audit engagement
• Exploring risk assessment methods, frameworks, and approaches used in internal auditing activities
• Understanding the process and stages involved in conducting audit fieldwork
• Applying tools and techniques for data collection, evidence gathering, documentation, and audit analysis
• Discussing common challenges encountered during audit execution and identifying techniques for overcoming these challenges effectively

Day — 5 Reporting and Follow-up

• Understanding the importance of proper documentation and professional audit reporting within internal audit activities
• Exploring the structure, format, and key components of effective audit reports
• Applying best practices for presenting audit findings, observations, and recommendations clearly and professionally
• Discussing the importance of communicating audit findings effectively with stakeholders and management
• Understanding methods and techniques for effective stakeholder communication throughout the audit process
• Recognising the importance of follow-up activities to monitor the implementation of audit recommendations and corrective actions

Day — 6 Professional Ethics and Continuous Improvement

• Understanding the ethical responsibilities of internal auditors as outlined within the IPPF framework
• Recognising the importance of integrity, objectivity, confidentiality, and professional competence in internal auditing practices
• Applying methods and approaches for resolving ethical dilemmas encountered during internal audit activities
• Identifying the role of the Global Internal Audit Standards (GIAS) in promoting ethical behaviour and professional conduct within internal auditing
• Discussing continuous professional development requirements and learning expectations for internal auditors
• Exploring mechanisms and best practices for improving audit quality, effectiveness, and continuous organisational improvement
• Course recap, participant review, and final assessment

Learning Outcomes

By attending this course, participants will be able to:

• Understand the fundamental principles, structure, and components of the 2024 International Professional Practices Framework (IPPF) and the Global Internal Audit Standards (GIAS), and recognise their importance in improving the effectiveness of internal audit functions
• Apply internal auditing principles effectively across different auditing environments while ensuring alignment between audit activities and organisational objectives
• Recognise the role of internal auditors in strengthening governance, risk management, internal controls, and organisational integrity
• Develop audit plans in accordance with IPPF guidelines while addressing factors that influence audit engagements and audit priorities
• Strengthen practical skills required to perform audit fieldwork and utilise data collection and analysis techniques to support effective audit execution
• Draft professional audit reports that clearly communicate findings, observations, and recommendations to relevant stakeholders
• Understand and apply the ethical principles and code of ethics outlined within the IPPF and GIAS frameworks and improve the ability to manage ethical dilemmas in auditing activities
• Implement mechanisms and quality improvement practices that enhance the effectiveness, consistency, and overall quality of internal audit functions

Who Should Attend

This course is designed for professionals seeking to strengthen their understanding of the 2024 updates to the International Professional Practices Framework (IPPF) and the Global Internal Audit Standards (GIAS), including:

• Internal Audit Professionals
• Compliance Officers
• Risk Management Specialists
• Financial Auditors
• Senior Management and Executive Professionals
• Governance, Risk, and Compliance (GRC) Practitioners
• Audit Committee Members
• Educators and Trainers in Internal Audit and Governance Practices
• Consultants and Advisory Professionals working in internal audit and assurance functions