Internal Auditing: Principles, Practices, and Applications

Name: Internal Auditing: Principles, Practices, and Applications
Rating: 4.3 (97 reviews)

Mastering Internal Auditing and Internal Controls.

Created byFinancial Analysts

Last updated 12/2025

English

What you'll learn

Understand the core principles and standards of internal auditing.
Assess risks, controls, and compliance effectively.
Conduct audits and report findings accurately.
Improve governance through actionable recommendations.

Course content

7 sections • 38 lectures • 3h 20m total length

Introduction2:09
Introduction to Internal Auditing9:46
Internal auditing acts as the organization's independent health check, assessing risk management, control and governance processes to deliver insight, protection, and improvement across financial, operational, and compliance areas.
Internal vs. External Auditing11:52
Differentiate internal auditing from external auditing to show their distinct goals, audiences, and roles in improving operations and ensuring financial statement accuracy.
Key Responsibilities of an Internal Auditor9:19
Structure of an Internal Audit Department9:59
Explore the internal audit department structure from the chief audit executive to audit managers and staff auditors, and how independence with dual reporting to the audit committee sustains aligned audits.
Internal Audit Charter10:15
Why Internal Auditors are Important to Corporate Governance4:33
Institute of Internal Auditors Code of Ethics7:02
International Professional Practices Framework (IPPF)6:08
Quiz on Fundamentals of Internal Auditing.

Risk-Based Internal Auditing introduction2:43
Learn risk-based internal auditing and internal control systems to identify operational, financial, and compliance risks with techniques like brainstorming, swot, and data-driven risk assessment; explore coso and the audit process.
Understanding Risk Management8:05
Risk Identification7:09
Risk Assessment7:22
Internal Control Frameworks: COSO6:59
COSO Enterprise Risk Management (ERM)3:32
Evaluating and Testing Internal Controls9:16
Evaluate and test internal controls by understanding the control environment, identifying key controls, documenting procedures, testing design and operation effectiveness, and reporting deficiencies with improvement recommendations aligned to organizational objectives.
Risk-Based Internal Auditing (RBA)5:49
Quiz 2

Why Planning Matters in Internal Audit2:49
Plan early with a clear blueprint to establish the foundation of the internal audit, ensuring efficiency, direction, and a risk-based focus on the areas that matter most.
Planning Phase Overview2:00
Defining the Scope and Objectives of the Audit2:52
Preliminary Risk Assessment2:50
The Audit Planning2:24
Develop the audit plan by gathering background information, defining scope and objectives, summarizing the risk assessment, outlining the methodology, and creating a phased schedule for planning, fieldwork, reporting, and follow-up.
udit Plan: Allocate Resources3:31
Audit Procedures and Checklist3:09
Audit Deliverables2:23
Quiz audit planning

Internal Audit Reporting Cycle2:27
Effective Audit Report Writing4:56
Writing Clear and Impactful Audit Findings2:34
Actionable and Effective Audit Recommendations3:08
Audit Report Example: Inventory management control audit.6:13
Examine an inventory management control audit report for X, Y and Z Manufacturing Corporation, outlining objectives, scope, methods, and key findings with improvement recommendations.

Requirements

No prior knowledge needed.

Description

This comprehensive course, "Internal Audit : Mastering Internal Auditing, Financial Statement Auditing, and Internal Controls," is designed to equip learners with the foundational knowledge and practical skills needed to excel in the field of internal auditing. Whether you're a beginner or an experienced professional, this course will provide you with a deep understanding of the principles, standards, and best practices that define effective internal auditing.

Throughout the course, you will explore the core concepts of internal auditing, including risk assessment, control evaluation, and compliance monitoring. You will learn how to plan, execute, and report on audits with precision, ensuring that organizational processes align with regulatory requirements and industry standards. The course also delves into specialized areas such as IT auditing, where you will gain insights into assessing technology risks and controls, and financial statement auditing, which focuses on verifying the accuracy and integrity of financial records.

A key component of the course is understanding internal controls—how to design, implement, and evaluate them to safeguard assets, enhance operational efficiency, and ensure reliable financial reporting. By the end of the course, you will be able to identify weaknesses in control systems, recommend actionable improvements, and contribute to stronger governance and risk management frameworks.

With a blend of theoretical knowledge and real-world case studies, this course prepares you to tackle the challenges of modern internal auditing and advance your career in this dynamic field. Whether you aim to become an internal auditor, enhance your auditing skills, or gain a competitive edge in the industry, this course is your gateway to success.

Who this course is for:

Internal auditing.

Internal Auditing: Principles, Practices, and Applications

What you'll learn

Explore related topics

Course content

Fundamentals of Internal Auditing9 lectures • 1hr 11min

Risk-Based Internal Auditing and Internal Control Systems8 lectures • 51min

Conducting an Internal Audit (End-to-End Process)1 lecture • 4min

Step 1: Audit Planning8 lectures • 22min

Step 2 : Pre-Audit Phase4 lectures • 26min

Step 3 : Fildwork audit phase.3 lectures • 7min

Step 4: 3. Audit Reporting & Follow-Up5 lectures • 19min

Requirements

Description

Who this course is for: