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Home/Courses/Auditing & Governance/Risk-Based Internal Audit

Auditing & Governance

Risk-Based Internal Audit

Internal auditing is defined by the Institute of Internal Auditors as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations.

Duration5 days

DaysMonday to Friday

TimingMorning or evening

LocationAbu Dhabi centre

Next group

2026 & 2027

Course fee: Contact us
Duration: 5 days
Group rate: Ask an advisor

Overview Objectives Course outline Who should attend

Course overview

Internal auditing is defined by the Institute of Internal Auditors as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. By employing a systematic, disciplined approach, it enhances the effectiveness of risk management, control, and governance processes, enabling organizations to achieve their objectives.

With increasing regulatory requirements and heightened stakeholder expectations, the internal audit function plays a critical role in corporate governance. This course, Risk-Based Internal Audit, provides participants with the knowledge and tools necessary to conduct audits aligned with organizational strategies. The course emphasizes efficient, flexible, and results-oriented practices to enhance sustainability and tackle future challenges.

Training methodology

The course employs interactive methods such as expert-led presentations, practical case studies, live demonstrations of sampling techniques, and group exercises to ensure a hands-on learning experience.

Target competencies

Planning risk-based audits
Evaluating internal audit functions
Identifying and mitigating risks
Designing and testing internal controls
Effective sampling techniques
Fraud detection and assessment

Course objectives

By the end of the course, participants will be able to:

Understand the scope, purpose, and function of internal auditing within organizations.
Explain the concept of risk-based internal auditing and its application.
Identify and apply internal audit standards as part of the audit framework.
Differentiate between operational, compliance, and financial audit assignments.
Use fieldwork guidelines and techniques to identify risks, evaluate controls, and conduct controls testing.
Select and utilize suitable internal audit tools, evaluating their pros and cons.
Apply effective sampling techniques, determining appropriate sample sizes and methods.
Detect and respond to fraud, understanding the auditor’s responsibilities in such cases.

Course outline

Module 1

Introduction to Risk and Internal Auditing

Definition and types of organizational risks
Core management functions: planning, organizing, implementing, and controlling
The role of internal audit in corporate governance
Scope of internal auditing and the internal audit charter
Distinguishing internal auditing from external auditing
Establishing and staffing the internal audit function
Role of the audit committee in supporting internal auditing

Module 2

Internal Audit Standards

Attribute and performance standards as defined by professional bodies

Module 3

Types of Internal Auditing

Performance, operational, financial, and compliance audits
Evaluating accounting cycles and compliance requirements
Key considerations for directors regarding the internal audit function

Module 4

Conducting Internal Audits: Fieldwork Guidelines

Information gathering:
- Characteristics, sources, and evaluation of audit evidence
Engagement procedures:
- Tools such as observation, verification, interviewing, and re-performing tasks
- Role-play exercises for developing effective interviewing skills
Managing working papers:
- Best practices for documentation and retention policies
Communicating audit results:
- Legal considerations, recommendations, and exit meetings

Module 5

Risk-Based Auditing

Understanding management assertions and the risk assessment process
Identifying and prioritizing auditable units based on risk evaluation
Developing risk-based audit plans and aligning them with organizational objectives

Module 6

Internal Controls and Testing

Key components of effective internal control systems: COSO framework
Designing and implementing internal controls
Testing the operational effectiveness of controls
Using flowcharts to understand cycles and control processes

Module 7

Audit Sampling Techniques

Best practices for sampling, including determining sample sizes and methods

Module 8

Fraud Detection and Assessment

Understanding the definition and characteristics of fraud
The internal auditor’s role in identifying and addressing fraudulent activities

Course at a glance

Duration5 days

Modules8

LanguageEnglish / Arabic

FormatClassroom

TimingMorning or evening · Mon–Fri

You'll be able to

Understand the scope, purpose, and function of internal auditing within organizations.
Explain the concept of risk-based internal auditing and its application.
Identify and apply internal audit standards as part of the audit framework.

See all 8 objectives →

Who should attend

This course is ideal for professionals with some auditing experience, junior auditors, finance personnel, and individuals from other departments seeking to develop best practices in internal auditing. It is also suitable for supervisors and managers looking to enhance or refresh their internal audit knowledge.

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Auditing & Governance

Risk-Based Internal Audit

Internal auditing is defined by the Institute of Internal Auditors as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations.

Duration5 days

DaysMonday to Friday

TimingMorning or evening

LocationAbu Dhabi centre

COMPUBASE TRAINING CENTER ABU DHABI

Auditing & Governance courses
Course overview Internal auditing is defined by the Institute of Internal Auditors as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. By employing a systematic, disciplined approach, it enhances the effectiveness of risk management, control, and governance processes, enabling organizations to achieve their objectives. With increasing regulatory requirements and heightened stakeholder expectations, the internal audit function plays a critical role in corporate governance. This course, Risk-Based Internal Audit, provides participants with the knowledge and tools necessary to conduct audits aligned with organizational strategies. The course emphasizes efficient, flexible, and results-oriented practices to enhance sustainability and tackle future challenges. Training methodology The course employs interactive methods such as expert-led presentations, practical case studies, live demonstrations of sampling techniques, and group exercises to ensure a hands-on learning experience. Target competencies Planning risk-based audits Evaluating internal audit functions Identifying and mitigating risks Designing and testing internal controls Effective sampling techniques Fraud detection and assessment Course objectives By the end of the course, participants will be able to: Understand the scope, purpose, and function of internal auditing within organizations. Explain the concept of risk-based internal auditing and its application. Identify and apply internal audit standards as part of the audit framework. Differentiate between operational, compliance, and financial audit assignments. Use fieldwork guidelines and techniques to identify risks, evaluate controls, and conduct controls testing. Select and utilize suitable internal audit tools, evaluating their pros and cons. Apply effective sampling techniques, determining appropriate sample sizes and methods. Detect and respond to fraud, understanding the auditor’s responsibilities in such cases. Course outline Introduction to Risk and Internal Auditing Definition and types of organizational risks Core management functions: planning, organizing, implementing, and controlling The role of internal audit in corporate governance Scope of internal auditing and the internal audit charter Distinguishing internal auditing from external auditing Establishing and staffing the internal audit function Role of the audit committee in supporting internal auditing Internal Audit Standards Attribute and performance standards as defined by professional bodies Types of Internal Auditing Performance, operational, financial, and compliance audits Evaluating accounting cycles and compliance requirements Key considerations for directors regarding the internal audit function Conducting Internal Audits: Fieldwork Guidelines Information gathering: Characteristics, sources, and evaluation of audit evidence Engagement procedures: Tools such as observation, verification, interviewing, and re-performing tasks Role-play exercises for developing effective interviewing skills Managing working papers: Best practices for documentation and retention policies Communicating audit results: Legal considerations, recommendations, and exit meetings Risk-Based Auditing Understanding management assertions and the risk assessment process Identifying and prioritizing auditable units based on risk evaluation Developing risk-based audit plans and aligning them with organizational objectives Internal Controls and Testing Key components of effective internal control systems: COSO framework Designing and implementing internal controls Testing the operational effectiveness of controls Using flowcharts to understand cycles and control processes Audit Sampling Techniques Best practices for sampling, including determining sample sizes and methods Fraud Detection and Assessment Understanding the definition and characteristics of fraud The internal auditor’s role in identifying and addressing fraudulent activities
www.compubasetraining.ae · +971 2 677 1117

Risk-Based Internal Audit

Course overview

Training methodology

Target competencies

Course objectives

Course outline

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