Skip Ribbon Commands
Skip to main content
The Institute of Internal Auditors North AmericaBreadcrumb SeparatorLearning and EventsBreadcrumb SeparatorCoursesBreadcrumb SeparatorMission of Internal Audit and the Internal Audit Charter
Course Description Course Outline Bring Us On Site  

Mission of Internal Audit and the Internal Audit Charter

Course Description

Although historians can trace its origin back to centuries B.C., the modern concept of internal auditing is associated with the establishment of The Institute of Internal Auditors®️ (IIA®️) in 1941. In the years since The IIA was founded, internal auditing has evolved to address not only accounting and financial matters, but increasingly complex risk management, control, and governance processes as well. Moreover, in the last 30 years, due to various factors such as globalization, increasingly complex corporate structures, e-commerce and other technological advances, and a global economic turn-down, there has been a dramatic increase in demand for internal audit services.

This course introduces learners to The IIA and the internal auditing profession. It describes the professional practice of internal auditing. It compares and contrasts internal audit to external audit, and assurance services to consulting services. This course also helps learners to understand the concepts of governance, risk management, and control, and the concepts of The IIA’s International Professional Practices Framework (IPPF). Finally, the course describes the purpose, authority, and responsibility of the internal audit activity and the required and recommended elements of an internal audit charter.

Learning Objective(s):

  • Describe the professional practice of internal auditing.
  • Compare and contrast internal audit to external audit.
  • Restate the concepts of governance, risk management, and control.
  • Describe The IIA and the International Professional Practices Framework (IPPF).
  • Describe the purpose, authority, and responsibility of the internal audit activity.
  • Describe the purpose and the required and recommended elements of an internal audit charter.
  • Distinguish between assurance and consulting services.
Course Duration: 0.15 day(s)
CPEs Available: 1.5
Knowledge Level: Basic
Field of Study: Auditing
Prerequisites: 
​None
Advance Preparation: 
​None
Delivery Method: QAS Self-Study