Date/Time
Date(s) - 21/10/2024 - 24/10/2024
8:30 am - 2:30 pm

Location
VOCO Dubai

About this course:

Course Description

The Certified Internal Auditor (CIA) exam tests a candidate’s knowledge of current internal auditing practices and understanding of internal audit issues, risks and remedies. The exam is offered in three parts, each part consisting of multiple-choice questions. The testing period is different for each of the parts and it is determined based on the number of questions.

Course Topics

PART 2 – PRACTICE OF INTERNAL AUDITING

The revised CIA Part Two includes four domains focused on managing the internal audit activity, planning the engagement, performing the engagement, and communicating engagement results and monitoring progress.

*Note: All items in this section of the syllabus will be tested at the Basic (B) knowledge level unless otherwise indicated below.

(B) – Basic: The candidate is responsible for comprehension and recall of information.

(P) – Proficient: The candidate is responsible not only for comprehension and recall of information but also for higher-level mastery of the content, including application, analysis, synthesis and evaluation.

Domain I – Managing the Internal Audit Activity (20%)

A.  Internal Audit Operations

1. A Describe policies and procedures for the planning, organizing, directing, and monitoring of internal audit operations. (Basic)
2. B Interpret administrative activities (budgeting, resourcing, recruiting, staffing, etc.) of the internal audit activity. (Basic)

B.  Establishing a Risk-based Internal Audit Plan

1. Identify sources of potential engagements (audit universe, audit cycle requirements, management requests, regulatory mandates, relevant market and industry trends, emerging issues, ) . (Basic)
2. Identify a risk management framework to assess risks and prioritize audit engagements based on the results of a risk assessment. (Basic)
3. Interpret the types of assurance engagements (risk and control assessments, audits of third parties and contract compliance, security and privacy, performance and quality audits, key performance indicators, operational audits, financial and regulatory compliance audits). (Proficient)
4. Interpret the types of consulting engagements (training, system design, system development, due diligence, privacy, benchmarking, internal control assessment, process mapping, ) designed to provide advice and insight. (Proficient)
5. Describe coordination of internal audit efforts with the external auditor, regulatory oversight bodies, and other internal assurance functions, and potential reliance on other assurance providers. (Basic)

C.  Communicating and Reporting to Senior Management and the Board

1. Recognize that the chief audit executive communicates the annual audit plan to senior management and the board and seeks the board’s approval. (Basic)
2. Identify significant risk exposures and control and governance issues for the chief audit executive to report to the (Basic)
3. Recognize that the chief audit executive reports on the overall effectiveness of the organization’s internal control and risk management processes to senior management and the (Basic)
4. Recognize internal audit key performance indicators that the chief audit executive communicates to senior management and the board (Basic)

Domain II – Planning the Engagement (20%)

1. Determine engagement objectives, evaluation criteria, and the scope of the engagement. (Proficient)
2. Plan the engagement to assure identification of key risks and (Proficient)
3. Complete a detailed risk assessment of each audit area, including evaluating and prioritizing risk and control factors. (Proficient)
4. Determine engagement procedures and prepare the engagement work (Proficient)
5. Determine the level of staff and resources needed for the engagement. (Proficient)

Domain III – Performing the Engagement (40%)

A.  Information Gathering

1. Gather and examine relevant information (review previous audit reports and data, conduct walk-throughs and interviews, perform observations, etc.) as part of a preliminary survey of the engagement (Proficient )
2. Develop checklists and risk-and-control questionnaires as part of a preliminary survey of the engagement (Proficient)
3. Apply appropriate sampling (nonstatistical, judgmental, discovery, etc.) and statistical analysis (Proficient)

B.  Analysis and Evaluation

1. Use computerized audit tools and techniques (data mining and extraction, continuous monitoring, automated workpapers, embedded audit modules, ). (Proficient)
2. Evaluate the relevance, sufficiency, and reliability of potential sources of (Proficient)
3. Apply appropriate analytical approaches and process mapping techniques (process identification, workflow analysis, process map generation and analysis, spaghetti maps, RACI diagrams, ). (Proficient)
4. Determine and apply analytical review techniques (ratio estimation, variance analysis, budget actual, trend analysis, other reasonableness tests, benchmarking, etc.). (Basic)
5. Prepare workpapers and documentation of relevant information to support conclusions and engagement (Proficient)
6. Summarize and develop engagement conclusions, including assessment of risks and (Proficient)

C.  Engagement Supervision

1. Identify key activities in supervising engagements (coordinate work assignments, review workpapers, evaluate auditors’ performance, ). (Basic)

Domain IV – Communicating Engagement Results and Monitoring Progress (20%)

A.  Communicating Engagement Results and the Acceptance of Risk

1. Arrange preliminary communication with engagement (Proficient)
2. Demonstrate communication quality (accurate, objective, clear, concise, constructive, complete, and timely) and elements (objectives, scope, conclusions, recommendations, and action plan). (Proficient)
3. Prepare interim reporting on the engagement (Proficient)
4. Formulate recommendations to enhance and protect organizational (Proficient)
5. Describe the audit engagement communication and reporting process, including holding the exit conference, developing the audit report (draft, review, approve, and distribute), and obtaining management’s response. (Basic)
6. Describe the chief audit executive’s responsibility for assessing residual (Basic)
7. Describe the process for communicating risk acceptance (when management has accepted a level of risk that may be unacceptable to the organization). (Basic)

B.  Monitoring Progress

1. Assess engagement outcomes, including the management action (Proficient)
2. Manage monitoring and follow-up of the disposition of audit engagement results communicated to management and the (Proficient)

Exam Structure

Exam Duration: 120 minutes

No. of Questions: 100

Course Duration: 4 days

Level: All

Pre-requisites: None

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