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Engagement Outcomes

Course Description

​After completing the tasks associated with engagement fieldwork — such as gathering, testing, and evaluating evidence to draw conclusions— the internal auditor must develop conclusions and formulate the recommendations that should be communicated to the auditee and other internal audit stakeholders. This course provides an overview of the procedures and protocols that are established and carried out to communicate engagement outcomes. While processing the engagement outcomes, it is imperative for internal auditors to consider how the internal audit activity can add value to the organization via communicating conclusions and reconditions; identifying areas that are taking on critical amounts of risk; and establishing action plans and monitoring programs. Ultimately, this course provides the learner with the skills to effectively communicate, report, manage, and monitor the recommendations and outcomes of an internal audit engagement.

Learning Objective(s):

  • Describe the elements of quality engagement communications.
  • Summarize the elements of an appropriate engagement conclusion, including assessment of risks and controls.
  • Recognize the importance of providing recommendations to enhance and protect organizational value.
  • Describe the engagement communication and reporting process, including interim reporting, the exit conference, obtaining management’s response, the report approval process, and distribution of the report.
  • Recognize residual risk that internal audit and the chief audit executive (CAE) are responsible for identifying and assessing, and the process of communicating the acceptance of risk.
  • Describe the process for communicating risk acceptance.
Course Duration: 0.12 day(s)
CPEs Available: 1.2
Knowledge Level: Basic
Field of Study: Auditing
Prerequisites: 
​None
Advance Preparation: 
​None
Delivery Method: QAS Self-Study