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Foundations of Internal Auditing in Financial Services Firms

Course Description

Financial services organizations operate in a challenging environment due to the heightened complexity of the regulatory landscape, cyber threats, proliferation of innovative products, multichannel customer interaction, and other conditions. Without appropriate guidance, training, and education, the financial services industry may be challenged to find enough competent internal auditors to fulfill the responsibilities and deal with risks across this unique landscape.

This course informs and educates internal auditors who may be new to the financial services industry about the regulatory environment in which these organizations operate. It also provides an overview of engagement planning, fieldwork, and outcomes in how managing an internal audit activity within the financial services industry differs from other industries in terms of regulatory interaction, governance, and risks.

Learning Objective(s):

  • Describe the various types of financial organizations.
  • Recognize the key elements of sound risk governance and management.
  • Define The IIA's Financial Services Risk Framework.
  • Explain the regulatory environment.
  • Outline the role of regulators.
  • Recognize the importance of the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions.
  • Describe the value and the engagement activities performed by internal audit.
  • Apply knowledge of internal audit process in financial services organizations.
  • Express how to manage internal audit activities in financial services firms.
Course Duration: 0.2 day(s)
CPEs Available: 2
Knowledge Level: Basic
Field of Study: Auditing
Prerequisites: 
​None
Advance Preparation: 
​None
Delivery Method: QAS Self-Study